Money Order Fees
|$0.01 to $500.00||$1.45|
|$500.01 to $1,000.00||$1.95|
|Postal Military Money Orders (issued by military facilities)||$0.50|
At the post office (USPS.com), a money order that is valued from $0.01 to $500 can cost $1.20, while a money order for $500 to $1,000 will cost $1.60. These prices are valid as of June of 2017.
Is a postal money order the same as a money order?
A postal order is purchased directly from a national postal system, such as the US Postal Service or the Post Office in the United Kingdom. By contrast, a money order is produced by an independent financial service provider and may be purchased at any number of retail outlets, including supermarkets or drugstores.
How much does it cost for a $100 money order?
Fees may vary by agent location, but you can generally expect to pay $1.25 for a money order up to $100, or $1.50 for one up to $1,000.
How do you get a postal money order?
Money orders can be purchased at any Post Office™ location. To find a Post Office that sells International Money Orders, go to the Post Office Locator (click ‘Post Offices’ > ‘Refine search’ > ‘Money Orders’) or call 1-800-ASK-USPS (1-800-275-8777).
What is the maximum amount for a money order?
Money orders are typically capped at $1,000. Some places may limit them to smaller amounts. If you need to purchase multiple money orders to get around the limit, you may be better off getting one cashier’s check for the full amount.
How much is money order at Walmart?
How much does a Walmart money order cost? While the exact charge varies by store, it’s no more than $1 at your local Walmart, and that’s a very competitive fee. The U.S. Postal Service, by comparison, charges $1.45 for money orders up to $500, and $1.95 for money orders between $500 and $1,000.
How much does a money order cost at CVS?
CVS issues money orders at their over 9,900 locations. CVS uses MoneyGram money orders, a provider of money transfers and payment services. CVS sells money orders for $1.25 with a maximum amount per money order of $500.
How much is a money order at Western Union?
Western Union Money Order Fees
Just like with banks, Western Union does not provide a set amount for a money order. A representative explained the rate varies by location. However, in general, these fees could range anywhere from 50 cents to $1.50 and more.
Can you use credit cards to buy money orders?
In most cases, you’ll need to buy a money order with cash or a debit card. Because issuers want the money in hand before they issue the money order, you cannot pay with a personal check. The only places that let you buy a money order with a credit card are 7-Eleven stores and Western Union.
How do you pay with a money order?
Keep your receipt.
- 5 steps to fill out a money order.
- Fill in the recipient’s name.
- Write your address in the purchaser section.
- Include your account number if you’re paying a bill.
- Sign the bottom where it says ‘purchaser’s signature’
- Keep your receipt.
How long does a USPS money order take?
It may be worth waiting at least two weeks after you send a payment before giving up and canceling a money order. Most letters arrive at their destination within a few days, but for some reason payments seem to move slower. During holidays and weekends, that process can take even longer.
Are money orders free?
Like cashier’s checks, you’ll pay a fee for a money order, but they’re inexpensive. Depending on where you buy a money order from—and how much it is for—the fee may be less than $1 or go up to $5.
Do money orders get reported to the IRS?
Note that under a separate reporting requirement, banks and other financial institutions report cash purchases of cashier’s checks, treasurer’s checks and/or bank checks, bank drafts, traveler’s checks and money orders with a face value of more than $10,000 by filing currency transaction reports.
Does the post office cash their own money orders?
Valid USPS money orders may be cashed at any post office if they have enough cash on hand. Your bank may also cash money orders if it is not against their rules. The post office will cash them. Bring it to your local branch and they will cash it on the spot.
How to pay for a postal money order?
– Companies that issue money orders want the most secure form of payment possible because once they issue the money order, their money is as good as gone. – You can also pay with a debit card linked to your bank account. – You cannot pay for a money order with a personal check. Checks can take a few days to process.
When sending money over the mail, money orders are a safer alternative to cash and personal checks than cash and personal checks.Money orders from the United States Postal Service® are inexpensive, widely recognized, and never expire.Your money order receipt will assist you in tracking down your payment and will serve as evidence of its value in the event that the money order is lost, stolen, or destroyed.Postal money orders are available for purchase and cashing at any Post OfficeTM store.Money Orders Can Be Sent Around the World
- Make a decision on the amount of the money order. It is possible to send up to $1,000 in a single order to any location in the United States.
- Visit any of the Post Office locations.
- Bring cash, a debit card, or a traveler’s check in case of emergency. You will not be able to pay with a credit card.
- Fill out the money order with the help of a store salesperson at the counter.
- Pay the amount equal to the face value of the money order plus the cost for issuing it.
- Keep your receipt in case you need to hunt down the money order.
Standardized Money Order Practices and Procedures (DMM 509.3) Fees are calculated based on the monetary amount of the money order.
|$0.01 to $500.00||$1.45|
|$500.01 to $1,000.00||$1.95|
|Postal Military Money Orders (issued by military facilities)||$0.50|
- Before accepting a money order, double-check that it is legitimate. When attempting to identify a forged money order, there are numerous crucial characteristics to look for. Genuine United States Postal Service money orders are distinguished by distinctive markings and patterns that help to avoid fraud. If you hold the money order up to the light, you should be able to see the following: Ben Franklin’s watermarks on the left side of the page repeat from top to bottom (circle 1 on picture)
- An in-and-out weaving of a vertical, multicolored thread with the letters ″USPS″ weaves in and out of the paper on the right side of the Franklin watermark (circle 2 on picture)
- If the dollar amount is discolored, it is possible that it has been erased, which would indicate fraud (circle 3 on the image)
- Please double-check that the dollar amount is imprinted twice (circle 4 on the image).
- Check to see whether the money amount is excessive
- Money orders sent within the United States cannot be worth more than $1,000.
- In the United States, international money orders cannot exceed $700 ($500 for El Salvador and Guyana).
- If you suspect fraud, call the U.S. Postal Inspection Service at 1-877-876-2455
- if you believe you’ve been given a fake money order, call the Money Order Verification System at 1-866-459-7822
- and if you believe you’ve been given a fake money order, call the Money Order Verification System at 1-866-459-7822.
Domestic money orders are non-expiring and do not accumulate interest while in transit.Money orders are cashed for the precise amount that is specified on the receipt.A money order from the United States Postal Service can be cashed at any Post Office for free.You may also cash them in at the majority of banks and select retail establishments.If they have enough cash on hand, rural couriers may be able to cash money orders.
- Do not sign the money order
- instead, write your name on it.
- Take the money order and a primary picture identification to any Post Office location.
- The money order must be signed at the counter in the presence of a store worker.
- See the extra requirements for money orders made out to organizations, to more than one person, and to children for more information. Money Orders are accepted for cashing (DMM 509.3.3) At any time, you may check the status of a money order you’ve purchased from the U.S. Postal Service by logging into the Money Orders Application on the USPS website. Before you begin, double-check that you have the essential details for the postal money order you wish to examine: Serial number, Post Office number, and dollar amount are all required.
- Payment on postal money orders cannot be stopped, however a money order that has been lost or stolen can be replaced. It may take up to 30 days to determine whether a money order has been lost or stolen.
- It might take up to 60 days to determine whether a money order has been misplaced or stolen.
- There is a $6.95 processing fee for replacing a money order that has been lost or stolen.
- Take your money order receipt to any U.S. Postal Service outlet
- To begin a Money Order Inquiry, speak with a shop employee at the counter.
- You will be able to monitor the status of your money order and the progress of your inquiry by logging into the Money Orders Application once you have started the investigation.
- When it is determined that your money order has been lost or stolen, we will give you a new money order.
Money orders that are faulty or damaged will be replaced by us.Make a trip to your local Post Office with the damaged money order and your receipt in order to acquire a replacement money order.The Postal ServiceTM will no longer sell or cash international postal money orders headed for Japan as of March 2020, nor will the Postal ServiceTM cash international postal money orders issued by the Japan Post.If you have not yet cashed a money order issued by Japan Post, please return the money order to the sender.On July 10, 2020, Japan Post announced that it will no longer accept international postal money orders issued by the Postal Service for payment.(On December 31, 2019, Japan Post discontinued the sale of international postal money orders meant for the United States.)
Where To Get A Money Order
- Money orders are often charged a cost that ranges from 50 cents to $10 or more, depending on where you purchase them.
- Western Union fees: may range from 50 cents to $1.50 and more, depending on the transaction.
- The majority of banks levy a fee of $5, $10, or 10% of the entire amount of the money order.
What Is A Money Order?
Money orders are a reliable method of payment that may be used almost everywhere in the world.Don’t mistake them with a cashier’s check, which can only be obtained through your financial institution.Post offices, banks, Western Union, and grocery stores are all places where you may obtain a money order.Finding the most appropriate location for your money order purchase is dependent on the amount you are prepared to spend, the location to which the money order must be sent, and the time frame in which the money order must arrive at its destination.
Best Places To Get A Money Order: Fee Comparison
Compare Money Order Fees at Banks & Retailers
|Bank of America||$5||$1,000 Not available in Arizona, California, Nevada.|
|BMO Harris Bank||$5||$1000|
|Capital One||Does not issue money orders|
|SunTrust||$5 for customers $10 for non-customers|
|BMO Harris Bank||$5||$1000|
Because many financial institutions do not disclose the amount they charge for money orders, the easiest method to find out how much your local bank costs is to visit a location in your neighborhood.The majority of banks levy a fee of $5, $10, or 10% of the entire amount of the money order.Wells Fargo, Chase, and U.S.Bank, all of which are located in Los Angeles, charge a fixed cost of $5 and exclusively issue international money orders.Some banks will waive the fee for money orders if you have a specific account with them.For example, if you have a Wells Fargo preferred checking or Wells Fargo At Work Checking Account, you will not be charged for money orders.
If you have a prime or private account with Chase, the bank will waive the cost for your transaction.Those who hold a platinum checking account with U.S.Bank are exempt from paying the charge.Tip: If you have a higher-tiered checking account, ask if your bank provides free money orders as a perk of your membership.
Western Union Money Order Fees
- A money order issued by Western Union is not limited to a certain amount, as is the case with banks. A spokesperson said that the rate changes depending on where you are. However, in average, these costs might run anywhere from 50 cents to $1.50 or more each transaction. International money orders are accessible
- however, it is recommended that you check with the financial institution where the monies will be placed to confirm that the transaction can be completed successfully before proceeding. Three Western Union locations in the Los Angeles area, for example, were called by MyBankTracker. The fees are as follows: Money orders between a penny and $500 are subject to a 55-cent fee, and money orders between $500.01 and $1,000 are subject to a $1 fee
- money orders between a penny and $500 are subject to an 80-cent fee, and money orders between $500.01 and $1,000 are subject to a $1 fee
- money orders between $300 and $1,000 are subject to a 75-cent fee
- money orders between $300 and $1,000 are subject to a $1 fee
- money orders between $300 and $1,000 are subject to a 75-cent
You do not need to have a Western Union account in order to obtain a money order.Customers can also put money orders into Western Union accounts in order to withdraw cash.A money order may only be obtained from a bank if you already have an account with them.Another advantage is that Western Union offices in your region are often open every day of the week, including weekends, whereas most banks and the post office are closed on Sundays.The price connected with cashing money orders from Western Union varies from 1 percent to 3 percent, depending on the amount of the money order cashing fee charged.A person advised me to visit a local bank to find out how much money will be taken out of my account.
Due to the fact that rates vary so much from one region to another, this is true.How to discover the best rate at Western Union when cashing a money order: Call many locations in your region and choose the one with the lowest costs to ensure that you get the best rate.
USPS Domestic and International Money Order Fees
The following are the current prices for domestic money orders at the United States Postal Service:
USPS Money Orders
|Fee||Maximum Amount of Check|
|$0.40||All postal money orders issued through military facilities|
Domestic money orders are only available for purchase in denominations of up to $1,000.Anyone wishing to transfer more than $1,000 will be required to get two separate money orders from the Post Office.Obtaining cashier’s checks from a bank is a good idea if you need to transmit more than $1,000 in a short period of time on a frequent basis.International money orders are $4.50 per dollar amount, regardless of the quantity.International money orders issued by the United States Postal Service can be cashed in 29 different countries across the world.In the event that you decide to attempt to cash a money order at the post office, you may encounter some complications.
If you have a money order that is worth more than $1,000, the USPS may not be able to assist you.Those who are seeking to cash a money order that is worth tens of thousands of dollars or more might consider contacting a financial institution.
Other places to get money orders
Money orders are also available at a low cost from grocery shops and department stores. Walmart money orders cost 60 cents and have a ceiling of up to $1,000 in value, according to the company. CVS Pharmacy also provides money orders for 99 cents with a maximum value of $500, which may be purchased at any time.
Be aware of money order scams
If you receive a money order in the mail from someone you do not know, it is likely that it is a forgery of the real thing.Learn how to identify a fake money order so that you don’t fall victim to being duped into cashing a phony money order.If you do wind up cashing a forged money order, you may be held accountable for the money you spent if the order is returned as undeliverable.For your bank to evaluate whether or not a money order is fraudulent, it might take several weeks.Are you dissatisfied with your bank?Take a look at some of the new top banks that everyone is talking about: More information may be found at: Check out MyBankTracker’s Best Banks of the Year selections.
Send up to £250 safely and securely without needing a bank account
- Send money with as little as 50p in your pocket.
- Pay your invoices or place an order through the mail
- There is no need to provide your financial information.
How it works
- Postal Orders function in a similar fashion to checks, except they do not need the use of a bank account.
- They’re ideal for auction sites such as eBay since they allow you to pay without disclosing your financial information.
- Once you’ve purchased your item, all you have to do is purchase a Postal Order for the same amount and send it in the mail
- They have the appearance of cheques. Having the payee’s name put on the order, and having the order crossed, so that the payee may only make payments into their bank account, is also an option.
|Purchase value per order||Fee payable|
|£0.50 – £4.99||50p|
|£5 – £9.99||£1.00|
|£10.00 – £99.99||12.50% of the face value|
|£100 – to maximum value of £250||Capped at £12.50|
Is a Postal Order right for you?
- If you need to make a payment or give monetary gifts, this is the option for you.
- You’re apprehensive about disclosing your personal financial information
- You don’t have a bank account or a chequebook, and you don’t want one.
|Try something else if:||X You’re happy to pay by cheque or other means that require a bank account X You need to pay in a country that doesn’t accept Postal Orders (see below) Not the right service for you? Find other services|
How Much Does a Money Order Cost?
The most recent update was made on August 8, 2018.If you need cash quickly, money orders are a simple method to convert it into a check.A money order is essentially a check that is not linked to your bank account.If you don’t have a bank account, are concerned about a bad check, need to mail money, or want to send a payment in a more secure manner, these services are great for you.Generally, a money order may be processed at a variety of locations, including the post office, supermarket, bank, and even a convenience shop, although the post office is by far the most typical location to obtain a money order.
How much does a money order cost?
On average, a money order will cost between $0.70 and $10, depending on its denomination.This will be determined by the location where you obtain your money order.Check out the chart below to discover how much a money order could cost in different places.In the case of a normal money order, Walmart.com states that it can cost up to $0.70.A money order with a value ranging from $0.01 to $500 may be purchased for $1.20 at the post office (USPS.com), while a money order with a value ranging from $500 to $1,000 can be purchased for $1.60.These prices are in effect as of June of this year.
If the money order is intended to be sent to a military person, the cost of sending it through the mail might be as little as $0.40 at the post office.Money orders purchased online might cost as much as $5 to $10 for $1,000 in cash that is required.
|7-Eleven||$1 to $5|
|Bank of America||$5|
|Bank of the West||$5|
|Circle K||$0.99 to $1.29|
|Fifth Third Bank||$1.25|
|Navy Federal Credit Union||$14.50|
|Pentagon Federal Credit Union||$2|
Money order overview
As previously said, money orders may be acquired from the majority of grocery stores, convenience stores, pharmacies, check cashing establishments, the post office, and even on the internet.A money order, on the other hand, will not be available in a number of popular grocery store chains, including Aldi, Costco, Cub Foods, Farm Fresh, Food Lion, Giant Eagle, Sam’s Club, Save-a-Lot, and Whole Foods Market.Orders for money will always be valid, and they will never be revoked or cancelled.However, the only two persons who may cash them are the person to whom the check is addressed and the person who made the initial transaction.The United States Postal Service maintains a list of nations that accept money orders.When it comes to money orders, they are similar to cashier’s checks in that there is a limit to how much money you may place on them.
Money orders, in contrast to cashier’s checks, are backed by smaller companies, leading some to believe that they are less safe than cashier’s checks in particular situations.Money orders provide the added assurance of knowing that the check will never be returned unpaid.When you use regular checks that are linked to your bank account, you can bounce a check if someone cashes a check that you have written when you have insufficient funds in your account to cover it.With a money order, the check is backed up by funds that are guaranteed to be available.Money orders issued by the post office or banks should include some sort of watermark or stamp to indicate that they are supported by a legitimate financial institution.There have been a number of fraudulent money orders issued, making a trip to the post office or a bank the most secure option for purchasing one.
What are the extra costs?
Single money orders will have a maximum limit, which is often approximately $1,000 in value.To purchase $1,500 worth of money orders, you would have to purchase two different money orders, which means you would be responsible for the cost of each one separately.You may be able to trace a money order for a nominal cost in certain instances.International money orders might cost anywhere from $3 to $6 more than domestic money orders.A cost ranging from $5 to $35 is charged by some organizations, such as the United States Postal Service and Western Union, to replace a money order they have received.Cancelling a money order will cost you anywhere from $6 to $15 or more, depending on the amount of the order.
For example, the United States Postal Service would charge you around $6 if you need to cancel your order, but the Western Union will charge you approximately $15.
Tips to know:
A local bank may need you to have an account before they will process your money order.If this is the case, you may have to wait until you do have an account before they will process your money order.If you are sending money orders overseas, you may be restricted to sending money orders in amounts smaller than $1,000.Typically, it costs approximately $700 dollars.Make an appointment to meet with the company or individual before handing over a money order.Because a money order may be readily forgeried, some businesses will only take a cashier’s check instead of a money order.
Occasionally, the tiny fee for a money order is well worth it in order to prevent the hazards of losing your money or having a huge check bounce.For as long as you are a member of your local bank or credit union, cashing a money order will always be free; however, if you cash your money order at a third-party location, fees may apply for individuals who choose to pay it there.Always save your receipt as a record of your transaction.A certified check, a traveler’s check, and/or a wire transfer are all options for paying with a money order instead.Depending on your requirements, you may choose to investigate alternative alternatives to determine whether they are suitable for your scenario.Is it possible to purchase a money order using a credit card?
WalletHub.com reports that you may purchase a money order using a credit and/or debit card, but if you use a credit card to do so, the credit card issuer will see this as a cash advance and will charge you more costs as a result, according to the website WalletHub.
How to fill out a postal money order
How can I save money?
If you want to receive a money order for the least amount possible, avoid going to the bank.As an alternative, try using a less expensive option such as the local post office or even a merchant such as Walmart.For larger purchases, consider using a cashier’s check rather than a money order to pay for your items.As previously noted under the additional charges, you will be required to pay a fee for every $1,000 or so in revenue.Unless your money order is for more than $2,000, it’s generally a good idea to look into local cashier check rates instead.Avoiding the need to visit a physical business by transferring money online using services such as PayPal is an option.
Money may be sent for as low as a few dollars with this service.Advertiser Disclosure: This material may include referral links to third-party websites.For additional information, please refer to our disclosure policy.
Average Reported Cost:$0
Can The Post Office Issue Money Orders And Checks?
The post office is more than simply a site where you may drop off and pick up your letters and packages.Customer convenience is enhanced by the variety of additional products and services that they provide, making them an attractive alternative solution.You may not be aware that your local post office offers shipping materials, and that many of them provide additional services in addition to merely sending mail.In addition to regular mail, post offices also provide money orders and cashier’s checks as extra services.They are available for purchase from any location, and they are both reasonable and secure.
Getting Cashier’s Checks From the Post Office
A cashier’s check is a type of check that is written by a financial institution or government agency and is guaranteed by the money of a financial institution or government office.There are several scenarios when it is believed to be a more secure method of doing a transaction.Examples include real estate transactions and vehicle purchases among others.They are available for purchase at the post office for a charge of around ten dollars.This method of payment is advised for purchases involving more than $1000 USD.In addition, because a cashier’s check is given to a specific individual, it is a safer form of payment because it reduces the danger of theft and fraud associated with it.
Cashier’s checks cannot be cashed at the post office, but they may be cashed at a bank or other significant financial institution, unfortunately.
Getting Money Orders From the Post Office
Not only can post offices provide cashier’s checks and passport applications, but they also provide a variety of other services.Money orders are one of the safest methods of making a payment to a business or a person since they provide more security and are traceable due to the presence of serial numbers that can be readily confirmed.Money orders may be used to make payments to businesses or individuals.Rather to accepting checks, many businesses prefer to exclusively take money orders since they provide a guarantee of payment and eliminate the possibility of checks being returned due to insufficient funds.It is advised that money orders be used for transactions with a total value of less than $1000, and they may also be cashed at any post office if the recipient presents correct identification.A money order from the post office will cost roughly $1.20 for sums less than $500 and $1.60 for quantities greater than $500 but less than $1000.
International Money Orders
International money orders are another another service that the Post Office provides to its clients.For $8.25, you may purchase an international money order with a value of up to $700.A viable alternative for consumers who are unable to make a wire transfer but still wish to execute a financial transaction with an entity in another nation is to use a money transfer service.In the United States, an international money order functions in the same way as a domestic money order, and it may be cashed at most international financial institutions across the world.
Military Money Orders
It is also possible to acquire military money orders in person at a military post office location for $0.40 per order.It is also possible to use these sorts of money orders in the same way as a standard money order, which is beneficial for paying bills or purchasing products on a military base, as well as when shipping bill money from an overseas military base.Recall that the post office, while you’re there to acquire stamps for your mail, is also a convenient and safe place to receive a cashier’s check or a money order without having to go through a bank or other financial institution.Individuals who have difficulty making payments with traditional means of payment such as cash or credit can consider purchasing a money order or a cashier’s check from the Post Office, which will provide more security and ease.
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What Is the Difference between a Money Order and a Postal Order?
Malcolm Tatum is a professional basketball player.Date: February 28, 2022 (Saturday).The terms money order and postal order are frequently used interchangeably, however there are a few important distinctions between the two financial instruments.Those distinctions are centered on where the instruments are obtained, where they may be traded for cash, and who will accept each instrument as a form of payment.In certain countries, the amount of risk connected with them serves as an additional distinguishing factor between the two categories.One of the most significant distinctions between a money order and a postal order has to do with the location from which the instruments may be obtained.
Purchasing a postal order directly from a national postal system, such as the United States Postal Service or the Post Office in the United Kingdom, is a common practice.On the other hand, an independent financial service provider produces a money order, which may be acquired at any number of retail locations, including supermarkets and pharmacy shops, to be used as payment.Another significant distinction is the respective reputations of the two instruments.Creditors are generally more inclined to accept a postal money order than they are to accept a money order issued by an independent financial services company, though there are some exceptions.Forgers believe that postal orders are more difficult to fake than money orders issued by other businesses, which may be one of the reasons behind this belief.A further consideration is the fact that certain service providers have a reputation for being reluctant to fulfill payments, which may prompt some creditors to delay crediting client accounts until the cash have been received in their account.
The face value of postal orders, on the other hand, may be posted instantly since the risks of forgery or any other issue are rather minimal.Another distinction between a money order and a postal order is the method through which the financial instrument is cashed.Many banks, as well as the majority of post offices, will instantly honor a postal order by issuing cash to the person who presents it.A money order, on the other hand, may or may not be qualified for rapid cashing.
The order would be deposited into a bank account, and the presenter would have to wait for the bank to clear it before presenting it.Another reason why many creditors may take postal orders but will reject payment in the form of a money order is because of this.In terms of transferring cash or tendering payments, both orders are feasible options.
- As a general rule, postal orders are considered to be the more dependable of the two possibilities; thus, they are probably the preferable choice when there is any uncertainty about where the order will be paid.
- It is common for companies to provide detailed rules for using a money order or a postal order, including information on how long each instrument will take to post to a credit account.
- This makes it easy to evaluate which instrument is the most appropriate to use in a given circumstance.
Where Can I Cash a Postal Money Order?
A money order from the Post Office can be cashed at a variety of different places.The most convenient location to begin is at your local United States Post Office branch.A postal money order can be cashed there without incurring any fees.It’s important to remember that if your nearest branch is a retail store, it will need to have enough cash on hand to redeem your money order.The majority of cash will come in through retail purchases during the day, so if you try to cash your postal money order first thing in the morning, you may be out of luck.
Banks and Credit Unions
The next best option is to go to a bank or credit union for assistance. The institution may impose a little cost for cashing the instrument, which varies from one institution to the next. If you’re submitting a postal money order at your own bank, keep in mind that it may be subject to the funds availability policy of the financial institution where you’re doing business.
Grocery Stores and Big-Box Retailers
Check and money order cashing services are still available at a number of grocery shops and big retail businesses, such as Walmart.Most of these, however, are subject to fees, and there may be a maximum monetary amount that may be used.In other words, they will not cash any checks or money orders that exceed the amount specified.If in doubt, phone ahead and inquire with the business to see whether or not these services are provided.In these places, check cashing is often done on a fixed rate basis — for example, $4 for checks up to $1,000.
Check Cashing Centers
Check cashing centers may be the next best option if you don’t have a bank account and are unable to travel to the Post Office or a retail store for whatever reason.Prepare to pay fees for these services if you want to use them.Many of them charge a percentage of the total amount of your check or money order.These percentages might range anywhere from 2 percent and 10 percent depending on the situation.If you’re cashing a $500 money order, you might wind yourself paying as much as $50 in fees in order to receive your money.
Convenience Stores and Gas Stations
Check cashing shops and convenience stores are not as uncommon as you may believe, especially in rural areas.However, it is still a good idea to phone ahead and confirm that your selected store provides these services.You’ll very certainly have to pay a charge, just like you would at a merchant or a check cashing institution.Convenience stores and petrol stations, like check cashers, may charge a percentage of the amount of your money order as well.Once again, you’ll wind up spending more than you would if you went to the Post Office or a financial institution.
Can a Post Office Money Order Be Forged?
However, while postal money orders are more dependable than other forms of payment, they can still be counterfeited by exceptionally skilled criminals.These con artists often attempt to defraud persons who sell things on the internet by sending them fictitious money orders.Their strategies also include enticing the general public by offering large incentives in exchange for putting the money order and sending them the monies.The good news is that there are still techniques to determine the difference between a legal postal money order and a counterfeit one.Money orders issued by the United States Postal Service cannot exceed $1,000, while money orders issued by overseas postal services cannot exceed $700.Anything that is more than these quantities is almost certain to be a scam.
When a legitimate money order is held up to a light source, it will also display a Benjamin Franklin watermark on both sides of the document.A dark-colored security thread going from top to bottom on the right side of the watermark with the letters ″USPS″ flowing both forward and backward will also be included on these stamps.
How Can I Avoid Money Order Scams?
- To prevent being taken advantage of, you must be able to identify when someone is attempting a money order fraud. We’ve previously discussed a few of frequent variations, including the ″deposit aid″ strategy and the use of fictitious money orders to pay for things. However, there are a few different variations that cunning criminals may experiment with: Buyer’s regret is defined as follows: The fraudster gives you a payment and then decides not to purchase your items, but he offers to let you keep a portion of the amount as ″goodwill″ compensation.
- Reversal of the rental agreement: The fraudulent payment is for an apartment or real estate, and it is similar to buyer’s remorse. However, as was the case yesterday, the miscreant demands that all of the money be returned.
- ″Paying too much″ for a purchase: Your debtor sends you a money order for an amount greater than what you owe. When you send them the difference back, they say, ″Oops!″ and ask you to send them the difference back.
Before depositing or cashing any money order, make sure that the monies are in the account.Authenticity may be determined by cross-referencing the money order with the issuer’s sources of supply.If the sender puts pressure on you to respond immediately, that is a clear indication that you are being scammed.Furthermore, if you sell on eBay or other comparable platforms, you should never take payment in the form of checks or money orders.Whenever possible, insist on payment via traceable means.After several years working in the teleconferencing sector, Michael made the decision to pursue his lifelong interest in trivia, research, and writing by pursuing a full-time career as a freelancing writer.
As a result of his contributions to print and online media, including SmartCapitalMind, as well as poetry collections, devotional anthologies and various newspapers, he has earned a reputation as a thought leader in the financial services industry.Malcolm has a variety of other hobbies, including vinyl record collecting, minor league baseball, and cycling.Malcolm Tatum is a professional basketball player.After several years in the teleconferencing sector, Michael chose to explore his passion for trivia, research, and writing by becoming a full-time freelance writer.Since then, he has written essays to a range of print and online venues, including SmartCapitalMind, and his work has also featured in poetry collections, devotional anthologies, and various newspapers.Malcolm has a variety of other hobbies, including vinyl record collecting, minor league baseball, and cycling.
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Best Places to Get a Money Order Near Me
With the proliferation of electronic payments, such as online banking and credit and debit cards, money orders have become a payment mechanism that is all but forgotten these days.Despite the fact that they are still widely utilized by millions of people, this is still the case.If you’ve never used a money order before, or if you’re not sure why you may want to, it’s something you should consider exploring.It is possible that a money order will be the preferred way of payment in certain circumstances.
Why Get a Money Order?
Cashier’s checks and money orders are the most useful in two scenarios.
You Don’t Have a Bank Account
For starters, if you don’t have a bank account, you can’t make purchases.According to the Federal Deposit Insurance Corporation (FDIC), 8.4 million homes, or approximately 6.5 percent of all households in the country, do not have a bank connection.Unbanked families are those that do not have access to financial services.More families – 24.2 million, or 18.7 percent of all households – are termed ″underbanked,″ which means they do not have access to traditional banking services.People who have a bank account but who make substantial use of non-bank financial services are classified as non-bank financial services users.There is no description provided for what type of bank connection the underbanked have, however we may speculate that it may be persons who have a savings account but no checking account.
Unbanked and underbanked households account for around 25% of all households in the United States.Because it’s possible that the majority of the group does not have a checking account, money orders are a practical alternative to checks and electronic payments in this situation.
Risk of Disclosing Personal Information
The second scenario is one in which you want to make a payment but do not want to take the chance of giving any sensitive information about yourself.When you write a check, for example, your personal information is put at danger of being stolen.Along with your name, the check includes the name of your financial institution, the routing number of your financial institution and your personal account number.That’s all it would take for a potential identity thief to grab your information.While credit cards are a more secure method of making a payment, they do come with the danger of identity theft associated with them.Because of this, it is possible that your name and credit card account information will fall into the wrong hands.
A money order, on the other hand, allows you to make a payment in a legally permissible manner without having to reveal any personal information about yourself.Sometimes that is just what you require!
How Do Money Orders Work?
Money orders function in the same manner that checks do.The primary difference between a check and a money order is that, whereas a check is drawn on a bank account, a money order is financed in advance.However, in the majority of other regards, it functions in the same way.You’ll make a money order payable to an individual or a business, and that individual or business will need to endorse the document in order for it to be paid.A money order has the benefit of being completely financed, which is advantageous from the perspective of the recipient.In other words, it’s almost as good as cash.
In contrast to checks, which can bounce if the issuer’s bank account does not have adequate cash, electronic payments do not have this problem.Money orders are available for purchase at tens of thousands of sites around the country.We’ll go into some of the more frequent spots a little later on in the chapter.Money orders can be obtained in sums ranging from $100 to $1,000 in most cases.If the amount of your payment is more than one money order, you may be required to use more than one money order.Money orders, on the other hand, are rather inexpensive.
According to where they are acquired, they might range in price from less than a dollar to as much as five dollars.Paying using a money order, debit card, or credit card is the only method of payment accepted at the time of purchase.Checks are not accepted due to the fact that the money cannot be guaranteed.However, you should be aware that if you use your credit card to purchase a money order, it may be considered a cash advance.
In most cases, credit card companies levy a cash advance fee in addition to a higher interest rate on the amount borrowed.However, before purchasing a money order in order to make a payment, make assured that the recipient will accept the money order.Money orders are not accepted by all retailers, particularly those that conduct business online.
Redeeming a Money Order
Generally speaking, if you’ve been paid by money order and need to redeem it, you can do it at any establishment where money orders can be acquired. In virtually all circumstances, this will include your financial institution.
Pros and Cons
- They’re a widely recognized mode of payment, and they’re frequently chosen over traditional checks.
- As opposed to bank-issued checks such as certified or cashier’s checks, they are often less costly.
- Because you pay for a money order before it is issued, there is no possibility that it may bounce. If you are receiving a money order, as well as the person to whom you are sending a money order, you will have greater confidence in the transaction.
- They’re more secure than carrying cash, for example.
- If you don’t have a bank account, money orders can be issued to you through the postal service instead. Cash is unable to do so.
- Money orders are not always accepted in all places.
- They are significantly slower than online payments, and as a result, they are not well received by the majority of retailers.
- They cannot be used to make purchases on the internet.
- Money orders take a long time to process. You’ll have to go to an outlet where you may make a purchase every time you run out of something.
- Even while money orders are typically considered to be more secure than cash or cheques, they are nonetheless vulnerable to fraud.
- For each money order you acquire, you’ll be required to pay a service charge. Neither checks nor online payments are typically subject to a fee at most financial institutions.
Best Places to Get a Money Order Near Me
A money order is a type of check that may be used to pay for goods or services. If you’ve never purchased one before, you’ll be astonished at the hundreds of locations where they can be purchased or redeemed. The following are the most often cited sources:
The US Post Office
Money orders can be obtained from a variety of sources, including the United States Postal Service.And because there’s presumably a post office close by, they’re accessible to everyone who wants to use them.Money orders up to $500 are charged a $1.25 fee, and money orders over $500 are charged a $1.70 price.In the United States, postal money orders in values up to $1,000 are available.They may only be purchased with cash, a debit card, or traveler’s checks; credit cards are not accepted at this time.You may also use the post office to send money orders to people all over the world.
In contrast, the maximum amount of a single money order is $700, and the charge for doing so is $9.50 per order.That works out to almost 13 percent, which is a high cost for sending a payment via this method.
Your Own Bank or Credit Union
Money orders are available from the majority of banks and credit unions.However, in order to acquire one, you’ll need to establish an account with a financial institution.The terms differ from institution to institution.Money orders in amounts up to $1,000 are available for a fee of $5 from JPMorgan Chase, which is the nation’s largest bank and hence the most often used example.Money orders in amounts of $1,000 are also available through DCU Credit Union, although they are charged a fee of $3 per order.These are just a few examples of financial institutions such as banks and credit unions.
In order to determine the cost of money orders obtained at your local bank or credit union, you’ll need to contact them directly.
Retail shops, convenience stores, and pharmacies are among the kind of sites where Western Union agents may be seen distributing money.Even though they have more than a half-million agent locations throughout the world in more than 200 countries, only 56,000 of those sites offer money orders.Fees may vary depending on the location of the agent, but you can anticipate to pay $1.25 for a money order up to $100 and $1.50 for a money order up to $1,000 on average.This is less than you’ll pay at either banks or credit unions, and it’s even a few cents less than you’ll pay at the United States Postal Service.
When it comes to operations, MoneyGram is similar to Western Union in that it operates through agent locations.It has more than 340,000 agent locations in more than 200 countries throughout the world, with more than 340,000 agents in total.It is possible that MoneyGram is one of the least expensive methods of purchasing a money order, depending on your area.You will be charged just $0.70 for each money order purchased up to the value of $1,000.You may locate a MoneyGram location by conducting a search on the internet or using your mobile device to locate one.
CVS and Rite Aid are two large drugstore companies that accept money orders as a form of payment.(Walgreens, on the other hand, does not.) CVS has approximately 10,000 outlets across the country.They employ MoneyGram money orders and levy a fee of $1.25 each order for amounts up to $500.They accept payments through PayPal.Make sure to double-check with the CVS location to see whether money orders are available before you leave.Rite Aid has more than 2,500 outlets and accepts money orders through Western Union, among other services.
They are available in denominations ranging from $.099 to $500, with each one costing $.099 per unit.
7-Eleven is a convenience store chain that operates almost 8,000 units in the United States of America.Money orders are not available at all locations, and the terms may differ somewhat from one location to the next.You should also be aware that a money order cannot be redeemed at any of the sites listed above.The maximum value of a money order is $500, and it is subject to a charge of $0.65, or up to 3 percent of the amount of the money order, whichever is greater.(Ouch!That may equate to $15 on a $500 money order, so 7-Eleven shouldn’t be your first pick in terms of convenience stores.)
That Walmart sells money orders shouldn’t come as a surprise — after all, they have everything else.In addition, with more than 4,700 sites around the country, there’s likely one in your neighborhood.Furthermore, it should come as no surprise that Walmart offers some of the most competitive rates on money orders available anywhere.At the Walmart MoneyCenter, they provide money orders through MoneyGram as a service.They may be purchased in quantities ranging from $0.70 to $1,000, with a cost of $0.70 for $100 spent.
The process of purchasing a money order may not be much more complex than heading to your local grocery shop.Many businesses provide financial services to their customers at their customer service desks, which also sell money orders.For example, Kroger, one of the nation’s major grocery store chains, sells money orders through its Money Services division.These individuals make use of Western Union money orders, which may be purchased in increments ranging from $100 to $1,000.Prices vary per region, however they promote that if you have a Kroger Shopper’s Card, the fee may be as little as $0.69 per transaction.Money orders are also available through Western Union at Safeway.
The maximum amount is $500, yet the fee each transaction is only $0.59.Safeway, unfortunately, does not accept money orders as payment.These are only two examples of the nation’s largest grocery store chains, and there are many more.However, if they’re selling money orders, there’s a good possibility that your local grocery shop would as well, if not better.
Check Cashing Services
Because check-cashing firms provide financial services to consumers who do not have bank accounts, many of them also supply money orders.This is such a broad set of providers that you will need to verify with the specific check-cashing service that you use to determine availability and prices before proceeding.Also, be cautious when it comes to costs.Due to the fact that check-cashing businesses operate primarily with people who do not have bank accounts, the fees charged are likely to be greater than those charged by any of the other sources on this list.
Know Where to Get Money Orders When You Need One!
You are probably already familiar with money orders, even if you don’t have a banking account.You know where to buy them and where to pay the lowest costs, for example.Money orders, on the other hand, may be unfamiliar to you if you do not have a banking relationship.However, even if you have a bank account and are able to make payments by check or online, there may be instances in which utilizing a money order is a more preferable alternative for you.If you need to make a payment to a business that you are unfamiliar with and you are concerned about protecting your identity in any way, sending a money order will provide you with the necessary security measures.Even if you do not intend to use a money order in the near future, it is a good idea to become acquainted with the procedure.
If you do, you’ll be prepared for the day when paying with a money order is the preferable method of payment.
Cashier’s Check Vs Money Order: What’s the Difference
However, while a cashier’s check and a money order are both payment methods that may be used in place of cash or personal checks, the similarities and differences between them end there.A cashier’s check is issued by a bank, and it is available in bigger dollar quantities than a money order.It is also more expensive than a money order since it is issued by a bank and is more safe.In most cases, a money order may be obtained at a check cashing shop, post office, grocery store, and a variety of other locations.Money orders are often limited to less than $1,000 in value, and the charge is less than that of a cashier’s check.In most cases, a money order may be obtained at a check cashing shop, post office, grocery store, and a variety of other locations.
Money orders are often limited to less than $1,000 in value, and the charge is less than that of a cashier’s check.For more information on the differences between cashier’s checks and money orders, continue reading this article.If you’re interested in learning what a cashier’s check is, we have a separate article for you.
Cashier’s Check vs Money Order Comparison Chart
- Issued by and acquired from a financial institution
- Backed by a financial institution
- Available in quantities ranging from very tiny to extremely huge
- A typical cost is between $5 and $10.
- It is said to be more secure than a money order.
- It is beneficial for both big and one-on-one transactions.
- Purchased from a variety of sources, including retail establishments, post offices, check cashing services, banks, and other financial institutions
- It is backed by the retailer that sold it.
- In other cases, the maximum amount is $1,000 or less, depending on where it is purchased.
- There is no requirement for a bank account.
- The typical cost is between $1 and $2.
- It is thought to be less secure than a cashier’s check.
- Small transactions and transactions completed over the mail are made possible by this method.
Why Use a Cashier’s Check
There are a number of advantages to utilizing a cashier’s check over other payment methods.This type of check is ideal for higher cash amounts, and it may save you the tro