Are you looking for the best places to cash a money order? Have you ever used money orders to pay someone? In this article, you will know about the money order and the best places to cash a money order. I have also shared a few tips regarding money order scams at the end of this article. Please read the article to the end.
What is a money order?
A money order is a kind of like a check. It’s a piece of paper written for a specific amount of money with guaranteed payment. You define who will receive the money order, and both you and the receiver must sign it for it to be valid. It is a safe alternative to cash or personal checks. You can also cash a money order at various places which are discussed below.
Where do I get a money order?
Banks and credit unions – Banks are one of the best and secure way to get a money order. The charges depend on the financial institution. They often charge around $5.
Walmart – It provides money order with the cost of up to 88 cents. You can find Walmart over 4,000 locations in the U.S.
U.S. Postal Service – U.S. Postal Service has also offered money order. There is the various cost for different values like $1.25 for up to $500, $ 1.70 for up to $501-$1000 and 45 cents for military money orders. You can also get an international money order which costs $9.50 for up to $700.
Money transfer agents – You can also get the money order from various money transfer agents (convenience stores, supermarkets, etc.) The charges depend on the provider.
These are places where you get a money order. You can almost cash the money order at your local branch if you get the money order from one of these. Basically, Not every place issues money orders for cash.
If you get a money order from one of these issuing places, you can almost always cash the money order at your local branch hassle-free. Also if you have a Western Union money order, you might not be able to cash it at just any Western Union location. Because some agents don’t keep sufficient cash on hand and others don’t offer cash services.
Where to Cash a Money Order
Here, we have listed the best places where you can cash a money order.
1. Your Local Bank or Credit Union
Banks are one of the best ways to hassle-free cash a money order. If you have an account at your local bank or credit union then it might be the affordable and easiest option. If you have a current account then you can cash the money order for free. Also, banks have a large vault full of money and should be able to pay the whole amount.
If you’re a non-bank customer, then you can still cash a money order at most banks. But you will have to pay a small charge. Some banks only cash money orders with a balance of up to $500 for non-customers. You will need to open an account or visit a different company to cash large money orders. If you cash a money order on a regular basis then just open a local bank account or credit union account for easy and cheap payout.
Walmart sells money orders from MoneyGram and also cash a money order of MoneyGram. It is available for 4,000 locations in the U.S. They charge 70 cents for per money order. The money order amount max limit is $1,000 per money order.
You can cash a money order at Walmart only if the money order was bought at a Walmart. They charge you between $3 and $6 to cash a money order. It depends on the amount of the money order.
Western Union is one of the biggest money transfer services. They complete more than 32 transactions a second. Most Western Union agents will cash a money order if your money order was issued by Western Union only. You might have to pay a cashing charge to the cash a money order.
You can easily locate your nearby Western Union agent by visiting their website or even search for “Western Union agents near me.”
It’s not a bad idea to call ahead if you have a huge balance to cash as not every business keeps that enough cash on hand.
Depending on how quickly you need the cash, Western Union can also send electronically money to a local store, your bank account, or even a debit or credit card. But, this service can be more costly for the sender.
4. Post Office
You can also cash a money order if you have a USPS money order. Going to your local post office is a convenient and great option because some post offices won’t charge a fee for USPS money orders.
Although, some USPS normally charges around $1.25 for money orders up to $500, or $1.65 up to $1,000. If you have a large money order to cash, you have to call ahead. You can also find the nearest local USPS here.
MoneyGram is another popular issuer of money orders. Due to its large network, you can easily find a MoneyGram agent in your area. In my area, there are 4 MoneyGram agents. Usually, they charge less fee compared to others.
Kmart still has over 600 places in the U.S and those places do sell money orders. They also use Western Union for their money order service. Kmart charges 69 cents for per money order and having a money order limit of $500. Note that not all Kmart places are not necessarily engaging in money order sales. Check the nearest Kmart to be sure before you go there.
Kroger operates under a number of different brand names include Dillon’s, Fry’s, King Sooper’s, Smith’s and Fred Meyer stores. The Kroger has over 2,700 chains of the store in the United States.
They have also partnered with Western Union for money order service. Kroger charges 70 cents for per money order but fees vary by subsidiary and location. The limit of the money order is $500 or $1000 varies as per the location. You can get the money as cash or have it credited into a prepaid card. Don’t forget to check with a location near you for more money order information.
Meijer supermarket stores have about 240 places in the U.S. Most places are located in Illinois, Michigan, Ohio and Indiana. They are also partnered with Western Union for their money order service. You have to pay a fee of 65 cents per money order. The money order amount limit is $500.
9. 7 Eleven
7 Eleven have approximately 8,000 places in the U.S. While many 7 Eleven stores trade money orders. It is partnered with the MoneyGram or Western Union depending on the store location. You have to pay a fee of 65 cents for per money order, or 1-3% of the total amount, depending on the location. The money order amount limit is $500 max per money order.
CVS is a Pharmacy store having over 9,600 places in the U.S. It uses MoneyGram for its money order service. You have to pay a fee of 99 cents per money order. The amount limit of the money order is $500 per money order. You can find a CVS location near you by clicking here.
What Happens If You Lose a Money Order?
Hey, Don’t worry if your money order is lost or stolen. You have still a chance to get a refund. But keep in mind refunds won’t be issued if the money order has been cashed. To avoid these all, you and the issuer party have to take quick action.
First of all, the issuer needs to keep the money order receipt that contains the serial number. You still might not be able to get a refund without the serial number. So, this serial number is very essential in this case.
The money fund company (MoneyGram, Western Union, etc.) will track the money order status and verify it hasn’t been cashed yet by the help of serial number. It’s best to go to the issuing location because the issuer needs to fill out special paperwork and pay a cancellation charge that can cost up to $30.
You have to keep the patience because it takes up to 60 days to get a refund. Once the money order has been refunded, the issuer will need to buy a new money order. After this process, you will get the money back. But you will not always lucky to get your money back.
How to avoid money order scams?
I have seen lots of money order scams. Money orders are basically a safe payment method, but they can also be used fraudulently. Here are a few tips from my side to protect yourself from such scams:-
- Don’t exchange money orders with strangers. This is the most important tip. Always try to exchange your money orders with whom you trust. And always ask to be paid electronically or via another online means.
- Check the funds. You can call the issuer from a publicly available phone number to find out if it’s genuine. If you can’t cash the money order at the place that issued it.
- Keep your money order safely. Always keep your money order in a safe place in order to avoid scams.
- Take action quickly. If you’ve verified that a money order is authentic then cash it or deposit it to the bank quickly to avoid scams.
Here are the best places to cash a money order. These cashing fees and limits of money order may vary as per the location. So, please make sure to check the website to know the exact details.
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