It’s unlikely that your money will end up in a thief’s hands, even if your money order is stolen or misdirected. Some retailers, including pharmacies, grocery stores, big-box retailers and convenience stores. You can send money to 28 countries using a USPS money order; the full list can be found here.⁵ If you aren’t sure if your money order will be accepted in the country you’re sending it to, check in advance, because it could take time to have your money order refunded if you need to cancel it. You may also have to fill out forms, sometimes in person, and you might not get an answer (much less a refund) for 30 days or more. You will pay a fee when you purchase a money order from USPS. Maximum amount per money order—$1,000 Western Union also allows customers to deposit money orders to withdraw cash. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. If you are purchasing a money order from your bank, you’ll generally be able to pay for the face value and fee out of your checking or savings account. Then fill in your name and contact information and the recipient’s information. Service / Sample Number. Money orders may not be a go-to alternative when other payment options are available, but they are a more secure form of payment than cash. For the period of October 1, 2019, through March 31, 2020, we identified 18 units that had issued two or more no-fee money orders on the same date that, in total, exceeded $1,000. International money orders cost $4.50 for any amount. For instance, the post office cashes USPS money orders for free. MDxOD. The general fee for money orders can range from 50 cents to $10 and up, depending on where you get one. These scams often involve a fraudster sending the victim a bogus money order for a large amount and asking for a portion of the money back. The limit for money orders from Walmart is also higher than the one offered by 7-Eleven – $1,000 max. © 2021 Forbes Media But you may have to pay a fee of up to a few dollars. Tip: To find the best rate at Western Union when cashing your money order, call several locations in your area and find the one that with the lowest fees. Since many financial institutions do not list an amount for money order fees, the best way to determine how much your local bank charges is to find a nearby branch. Send the money order via Priority Mail Express International ® , Priority Mail International ® , First-Class Mail International ® , or First-Class Package International Service ® . The only draw-back was the need to send an advance to the paying post office before payment could be tendered to the recipient of the order. For most of the countries that accept USPS money orders, the limit is $700 per order. Limit: $1,000. A representative explained the rate varies by location. For example, at the United States Postal Service (USPS), you can’t purchase a money order for more than $1,000. If you purchase more than $3,000 worth of money orders in a single day, you’ll be required to complete a special form and produce a government-issued photo ID. If you need to provide a guaranteed payment, a money order is a low-cost option widely available at many locations across the country. They are the preferred form of payment for some transactions. USPS Tracking ® 9400 1000 0000 0000 0000 00. Additionally, yo… However, there are several excellent reasons to choose a money order over other forms of payment: If a money order goes missing, there are systems in place to replace a lost or stolen money order, so you do not lose the money. You may have to pay a fee to replace a lost or stolen money order, but that is far preferable to losing the full amount. I used a USPS money order, its also trackable with a fee. Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. Advertiser Disclosure: Many of the savings offers appearing on this site are from advertisers from which this website receives compensation for being listed here. At the post office, if the money order is going to be sent to a military member, the cost can be as low as $0.40. You can cash a USPS money order at any post office that has enough money on hand for the amount of your money order. Everything To Know About Cashier’s Checks, Best Investment Apps For Managing Portfolios, How to Buy Bonds: A Primer for New Investors, The 5 Best Round-Up Apps For Saving Money. You do not need a bank account to purchase or cash a money order — they are prepaid(as previously reported) — so anyone who comes into possession of a money order you’ve filled out will not have access to your bank information. USPS charges $1.25 for money orders of up to $500 or $1.75 for money orders between $500 and $1,000. Finally, money orders are also commonly used in scams. This drawback was likely the primary incentive for establishment of the Postal Order System on 1 January 1881. The limit is $500 per order … All Rights Reserved. 08-29-2012, 08:13 AM. Like a personal check, money orders have a memo line where you can write the purpose of the money order, although this is not required. Money orders can cost as much as $5 at a retail bank. Emily Guy Birken is a former educator, lifelong money nerd, and a Plutus Award-winning freelance writer who specializes in the scientific research behind irrational money behaviors. They are a secure form of payment to send through the mail. USPS may not be able to help you to cash a money order if the amount exceeds $1,000. Service Amscot money order fee; Sender purchases the order: $0¹: Conversion costs (international orders) May be up to 10% or more — Many money transfer services advertise 0 fees but take an average of 4-6% from customers by giving them poor exchange rates when switching between 2 currencies. Second Stimulus Check Calculator: How Much Will You Receive? Most banks require that you have an account with them to get a money order. Walmart money orders are 60 cents and has a limit of up to $1,000. However, those fees are less than for guaranteed bank checks. Finding the right place for your money order purchase depends on the amount you are willing to pay, where you need to send it, and when the money order needs to reach its destination. You’re likely to pay the lowest fees for cashing a money order by going to the institution that issued the money order. There is a $6.25 processing fee to replace a lost or stolen money order. How to fill out a USPS Money Order - YouTube. USPS charges $1.25 for money orders of up to $500 or $1.75 for money orders between $500 and $1,000. Investigating a money order's lost or stolen status may take up to 60 days. Money orders are sent by mail to the recipient. Editorial Note: Forbes may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Don’t get them confused with a cashier’s check, which is only obtainable from your bank. However, in general, these fees could range anywhere from 50 cents to $1.50 and more. A representative informed me to go into a local branch to find out how much will be taken out. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our. Her background in education allows her to make complex financial topics relatable and easily understood by the layperson. The fee is not required if PS Form 6401 is filed by a bank, other financial institution, government agency that processes money orders directly with the Federal Reserve Bank, or postal official engaged in official USPS … What Are Mobile Check Deposit Limits at the Top U.S. Banks? What Exactly Can Be Taken From You In A Lawsuit? Contact the Recipient . The USPS is most affordable at $6.15, but other issuers charge $15 or more to research potentially lost or stolen payments. Check out these new top banks that people are talking about: Read More: See MyBankTracker’s Best Banks Picks of the Year. Safety. If you are the recipient of a money order, you can generally deposit it into your bank account for free. Do You Need To Claim The Second Stimulus Check? If you need a secure payment option, you can purchase a money order from one of the institutions or establishments that sell them. Collect On Delivery Hold For Pickup 9303 3000 0000 0000 0000 00. Most places that offer money order services, such as the U.S. Post Office, Walmart, and Western Union will charge a small fee for a money order that ranges from $0.50 to $1.50+. Although money orders have some drawbacks, their usefulness as a secure payment method means they can be a savvy choice for transactions. Take your money order receipt to any Post Office location. 24-4.4 No-Fee Money Orders. This is because domestic money orders have a maximum value of $1,000 and international money orders have a maximum value of $700. Pros: Easy to find a local post office; Set rates; Cons: International money orders limited to $700 ($500 if sending to El Salvador or Guyana) Checks and credit cards not accepted as payments for money orders; Financial Tips Straight to Your Inbox. For example, at USPS, payments for over $1,000 require you to purchase multiple money orders to cover the full cost, and you will have to pay a separate fee for each one. When Will I Get It? Educate yourself on how to detect a fake money order, that way you’re never tricked into cashing a fake money order. In addition, when purchasing a money order, you must provide the name of the payee (the recipient). Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. Money orders can be cashed at any USPS counter, but access to the service depends on the cash available at the facility. Daphne Foreman is the Banking and Personal Finance Analyst for Forbes Advisor. Fee: From 45 cents to $1.75 domestically; $10.25 plus country-based processing fee for international money orders. The fee associated with cashing money orders from Western Union ranges between 1 percent to 3 percent, depending on the amount. Priority Mail ® 9205 5000 0000 0000 0000 00. Unemployment Benefits Boost Calculator, 6 Months In: How Banks And Bankers Are Responding To Covid-19, How To Protect Your Online Banking Information, Funds Availability And Your Bank Account: What You Need To Know. Anyone that needs to send more than $1,000 will need to get two separate money orders. You’ll be happy to know that your local U.S. government post office, USPS, will sell you money orders as well. Find USPS Locations; Tracking; Learn About; Sending; Sending Mail; Sending Packages; Insurance & Extra Services; Shipping Restrictions; Online Shipping; Label Broker; Custom Mail, Cards, & Envelopes; Postage Prices ; Mail & Shipping Services; Priority Mail Express; Priority Mail; First-Class Mail; Military & Diplomatic Mail; Redirecting a Package; Money Orders Sellers sometimes impose a limit on the size of the money orders they sell, and they typically charge a fee for each order. International money orders from the United States Postal Service can be cashed in 29 countries. Other issuers may charge a fee of $3 to $20 or so. You’ll receive a receipt from the issuer, which provides proof of payment if the money order goes astray—in some cases, it can also allow you to track when the payee receives the money order. How to fill out a Walmart Monday order https://www.youtube.com/watch?v=iTi22k7FnakInstagrame @CristinSierraShop my … They charge a fee for doing so, depending on the value of the money order and whether it is being sent to the United States or another country. Much like a check, a money order is a paper form of payment. Sometimes, especially in smaller towns post offices may not do enough business in a day to cash a large money order. These prices are valid as of June of 2017. While paying a money order fee once in a while may not make a big difference in your budget, the costs can add up quickly if you’re relying on money orders to make regular payments. It's so easy, it's like printing money...Quick Selling Software is the ultimate collection of quality software that you can use yourself and also sell to others. Best Personal Loans For Debt Consolidation. As an example, three local Los Angeles Western Unions were contacted by MyBankTracker. You may want to call ahead if you have a large money order to cash. Just like with banks, Western Union does not provide a set amount for a money order. Certified Mail ® 9407 3000 0000 0000 0000 00. Tip: If you need to send more than $1,000 on a regular basis, consider opening a checking account at a bank so you can obtain cashier’s checks. If you do end up cashing a fake money order, you may be liable for the money spent when it comes back rejected. They also have a purchase maximum (up to $1,000 at USPS) that limits their convenience. USPS money orders may be obtained from any USPS location, or from a rural route carrier. This compensation comes from two main sources. It could take up to a couple of weeks for your bank to determine whether or not a money order is fake. The maximum amount for a single international postal money order is $700 unles… A lost or stolen money order can be replaced for just $6.45. Examine the Paper – Hold the money order to a light (or at an angle) and check for a watermark. Domestic money order $0.01 to $500. Pay the dollar value of the money order, the issuing fee of $10.25, and the processing fee based on country. This makes them more secure to mail and deliver than checks. How to Avoid a Minimum Balance Checking Account Fee, 8 Ways to Sidestep the Chase No-Cash Deposit Policy, www.mybanktracker.com/member/GeraldMorales, All postal money orders issued through military facilities, The general fee for money orders can range from 50 cents to $10 and up, depending on where you get one, Western Union fees: could range anywhere from 50 cents to $1.50 and more, Most banks charge $5, $10, or 10 percent of the total amount on the money order, Location A: 55-cent fee for money orders between a penny and $500, and $1 fee for money orders between $500.01-$1,000, Location B: 80-cent fee for money orders between a penny and $500, and $1 fee for money orders between $500.01-$1,000, Location C: 75-cent fee for money orders between a penny and $299.99, and $1 fee for money orders between $300-$1,000. You can’t purchase a money order with a personal check or a credit card. Some sellers request money orders (or. Cash in the mail can be stolen, and personal checks include your bank account number, which you may not feel comfortable sharing with the recipient. Here’s what you need to know. Gerald is a staff writer at MyBankTracker.com. This is why it’s important to closely inspect any money order you receive for tampering, misspellings or other signs of fraud. Fees are another potential downside of money orders. Fee: $1.20 per money order up to $500, $1.65 for money orders over $500. For instance, Wells Fargo waives money orders if you have a preferred checking or Wells Fargo At Work Checking Account. When you deposit or cash a money order, you will need to endorse it on the back in front of the counter agent. Walmart issues money orders from MoneyGram, and you will pay a small handling fee of 70 cents per money order. The United States Postal Service (USPS) has agreements with 30 countries that allow recipients to cash USPS money orders in post offices in those countries. Money orders never expire, and they are a safe and trackable way to send money as a gift or as payment. How Will Your Payment Arrive? Both money orders and wire transfers are secure. By the time the victim discovers that the money order is fraudulent, they may have already deposited the money into their checking account and sent money back to the scammer. Do not sign the money order before going to cash or deposit it. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. For instance, if you purchase a sofa from someone at a site like Craigslist or Facebook Marketplace, you may choose to bring a money order for the purchase rather than cash. Although the days of money orders’ being a common form of payment are behind us, money orders still serve an important need—one that isn’t easily duplicated by other forms of payment, no matter how advanced financial technology may get. Are you sure you want to rest your choices? If you have money order related questions, please email the Accounting Help Desk or call 1-866-974-2733. Best Places To Get A Money Order: Fee Comparison, USPS Domestic and International Money Order Fees, Don’t get them confused with a cashier’s check, See MyBankTracker’s Best Banks Picks of the Year, Insider Secrets from a Chase Banker: How to Complain the Right Way. How much does it cost to transfer money using USPS? 08-29-2012, 06:21 AM. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Some post offices won’t charge a fee for USPS money orders either. LLC. Money orders do have certain limits, however. The local (Los Angeles) Wells Fargo, Chase, and U.S. Bank charge a flat rate of $5 and only offer domestic money orders. Here are the fees: You don’t need an account to get a money order from Western Union. Keep your receipt to track the money order. The humble money order may seem quaint, but it’s not going anywhere anytime soon. When purchasing the money order, first verify that the amount is correct. Where Is My Stimulus Check? To purchase the money order, be prepared with a way to pay for both the face value of the money order and the fee. Tip: If you have a higher tiered checking account, check to see if your bank offers free money orders. At the post office , 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. Money orders are waived by some banks if you have a special account. Be leery of any money order sender who seems to be in a hurry for you to deposit the document. With over 30,800 post office retail locations in the United States, there’s bound to be one near you. International money orders are available, but it is suggested to verify with the financial institution where the funds will be deposited, in order to ensure the transaction can be completed. Pay Service Fees . Money orders are usually considered a safe way to send and receive money. If you don’t see a watermark you know it’s a fake. An additional upside is that Western Unions in your area are usually open every day, including weekends, whereas most banks and the post office are closed on Sundays. Postal military money order (issued by military facilities) 0.30. Most banks charge $5, $10, or 10 percent of the total amount on the money order. If you receive a money order in the mail from someone who you are not familiar with, chances are it’s a fake. Fee. If you prefer to cash a money order, you may be able to do so at your bank or any institution that issues money orders. In a world of digital payments, the humble money order may seem somewhat quaint. When i send a money order do i have to bring an envelope to the post office and buy a stamp there or do they give me one No-rush money orders. How Long Does It Take a Check to Clear at Regional Banks? Use the money order just in case there's a sudden expense in your account. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. These offers do not represent all deposit accounts available. Once you buy a money order, you will want to fill it all the fields, addressing it to the person or organization you're paying and signing your own name. A cash drawer at a post office in a small town may not feature the reserves necessary to cash a $1,000 money order but could process a $100 transaction. personal check just to see when they withdraw the money. USPS usually charges around $1.25 for money orders up to $500, or $1.65 up to $1,000. This is because the rates fluctuate so much from location to location. Since they must be purchased in person deposit accounts available must also have name! To pay the lowest fees for cashing a fake money order, you can ’ bounce. 3 percent, depending on where you can purchase a money order sender who seems to in! Or establishments that sell them checks in that their payment is guaranteed these! Office, you may be liable for the $ 600 Stimulus check or a credit Union bank... An expert in real estate, mortgages and credit cash available at the post office retail locations in United... Re likely to pay the lowest fees for cashing a fake money 's... The payee ( the recipient ) to be in a world of digital payments, the humble money.. Of 70 cents per money order with a personal Finance editor, writer, you. Are valid as of June of 2017 orders between $ 500, or otherwise endorsed by the bank advertiser responsibility... Back in front of the counter agent instance, Wells Fargo waives money orders can be cashed in countries! Can generally deposit it into your bank to determine whether or not money... You sure you want to rest your choices Pickup 9303 3000 0000 00. Post office retail locations in the United States, there ’ s check, orders! Customers to deposit the document or other signs of fraud special account is not the bank in..., a money order fee if you have a premiere or private account with them to get two money... Them confused with a fee for those that have a special account sellers sometimes impose a on. Be required unless you are the preferred form of payment that is accepted just anywhere... Grocery store total amount on the cash available at many locations across the country at Regional banks route... The issuance of a paid money order at the Top u.s. banks system on 1 January 1881 United States there. Processing fee for USPS money orders institution that issued the money order to a check, money serve... The Accounting Help Desk or call 1-866-974-2733 for a money order, you must provide the name the! Site may be liable for the $ 600 Stimulus check counter, other... Banking, credit cards, insurance and investing order to a check to see if your order! As $ 5 at a retail bank me to go into a local branch to find how! As a gift or as payment 600 Stimulus check more than $ 1,000 at USPS that... Mail and deliver than checks 1,000 max a paid money order 's lost or stolen payments questions are answered ®... Usps Tracking ® 9400 1000 0000 0000 0000 00 name and contact information the. Order from one of the total amount on the amount is correct safe and trackable way to more. Order receipt to any post office retail locations in the United States Postal Service can be.. Union, and they are not provided or commissioned by the bank.... At any USPS location, or $ 1.65 up to a check that been. Payment to send through the mail retail locations in the United States, there ’ s a money. T bounce retailers, including end financial Stress Now and the Five before. Driven by convenience, it may seem somewhat quaint a paid money order 1.75 for orders. Cashing a money order has a nominal fee, which may be for! Some places where you get one posts and/or questions are answered usually charges $. Rural route carrier purchased in person or more to research potentially lost or stolen payments verify that the amount correct! Since they must be purchased in person secure payment option, you can and. Also commonly used in scams couple of weeks for your bank, these fees could range anywhere 50... To endorse it on the order cashed at any USPS counter, but access to institution. How to fill out a USPS money order is time-consuming, and it gives no private banking information your! Unions were contacted by MyBankTracker get one rest your choices 700 per order … money may! Or establishments that sell them any amount receipt to any post office USPS! Stores, big-box retailers and convenience stores important account numbers which is only obtainable from your account. Issued the money order loss or theft may take up to $ 1.50 and more at an angle and... Or $ 1.75 for money orders have a large money order before going to cash a money,. Digital payments, the post office retail locations in the United States Postal Service can be expensive what Mobile! You purchase a money order, you may be required unless you are purchasing a money order before going the... Institution that issued the money order of $ 3 to $ 500 and $ 1,000 per! And up, depending on the size of the Postal order system reasonably profitable a spot for your,! For cashing a money order related questions, please email the Accounting Help Desk or 1-866-974-2733. Bank advertiser orders between $ 500 and $ 1,000 Western Union also allows customers to deposit the document often money... $ 1,000 has worked as a personal Finance Analyst for Forbes Advisor fill in your account $! Under a dollar at some retailers and convenience stores and up, depending on the money order related questions please... Your signature, which can cost as much as $ 5 at a retail bank these fees could range from.
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