Postal Service. You buy a money order by prepaying the amount printed on the face of the money order with cash or another form of guaranteed funds. 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. Try not to exchange money orders with strangers. When to use money orders. Online money orders allow you to send money directly to the recipient’s bank account, or, if they need to pick up the money in cash or cash a money order, they can do so at any MoneyGram location in their area. You pay the amount on the money order and a fee for the service. The issuer will probably have you fill out some paperwork, using information from your receipt, and you'll likely pay a fee. Money Orders Money orders can be issued in postal office (postal money order) and in a bank (bank money order). Money orders are useful for transactions where you can't or don't want to use cash, a personal check, a bank or cashier's check, or a credit card.. Money orders have certain advantages, like being fairly safe to send through the mail because they can be tracked, and they don't let the recipient see any of your bank information. Walmart charges 70 cents for a $1,000 money order. We believe everyone should be able to make financial decisions with confidence. Can I buy a money order with a credit card? Publix. $5 for up to $1,000. » If you've lost a money order, find out how to claim your cash. Your best bet is to cash a money order at the same entity that issued it, whether that’s a bank branch, post office or other location. A postal Money Order is a certified, cashable document guaranteed by Canada Post. When you purchase a money order, the bank will either accept cash or direct debit your account. You don’t have a checking account. Keep in mind that many have a $1,000 limit. You do have to wait a little while longer to get the money, but this is definitely the safest and most convenient way to get the funds from a money order. When evaluating offers, please review the financial institution’s Terms and Conditions. Send Money Orders Internationally This may influence which products we write about and where and how the product appears on a page. You also prepay for a money order, at a location such as a U.S. post office, Walmart or Western Union. The cost depends on where you buy them, but fees generally ranges from one to five dollars. Just be sure to track the money order with the actual provider — it might be Western Union or MoneyGram even if you purchased it at a convenience store. To do this, you will need the serial number, tracking number, or money order number written on the front and the exact amount of the money order. (For alternatives, see list of places that do cash money orders .) Maximum amount per money order – $999.99 ; Fee per money order – $7.50* There’s no fee to cash a Postal Money Order at any post office in Canada; Cash and debit card are the only acceptable methods of payment (you can’t pay with a … Money Orders are purchased at a post office and are available in Canadian currency: A separate fee applies to each additional Money Order purchased. Since money orders require you to pay in advance, you don't need a bank account and you can still pay bills safely. Unlike checks, money orders don’t include your bank account number, and they help ensure that only the recipient can use it, unlike mailing cash. These might include sending extra money back to someone who claims they've paid too much, or visual cues, such as missing watermarks or amounts more than $1,000. We have more details of the TD Bank money order policy below. Another option: A certified check or a cashier's check, both of which guarantee payment and don't necessarily have a $1,000 limit, unlike many money orders. You specify who will receive the money order, and both you and that person must sign it for it to be valid, which cuts down on theft. Your receipt will also have a tracking number that you can use to verify that the money order got to the intended recipient. When it comes to grocery stores, Publix is one of the cheaper places to get a money order. However, both of these companies allow money orders to be sold at several locations around the U.S. Postal Service (USPS) locations sell money orders, as do many grocery stores, convenience stores, and general retailers — we list more than 50 places that sell money orders. Your best bet is to cash a money order at the same entity that issued it, whether that’s a bank, post office or other location. You’re sending money internationally. Your best bet is to cash a money order at the same entity that issued it, whether that’s a bank branch, post office or other location. A money order is a guaranteed payment you can buy at places such as Walmart and the post office. Our partners compensate us. Not all money orders work abroad, but U.S. After all, a check can bounce. $5 for up to $1,000; free for premium accounts. If any problems arise, contact the place where you bought the money order to get help. NerdWallet's ratings are determined by our editorial team. There are times when using cash or personal checks can put you at risk, or they aren’t accepted for payment. How much does it cost? If you can’t cash the money order at the place that issued it, call the issuer’s official, publicly available phone number to find out if the document is legitimate. Short Answer: TD Bank will generally only issue money orders if you have an account, and there is a $5 fee. We contacted QFC locations in Portland and throughout the Seattle area. Or check out our. It is a safe way to send money (locally) through the mail. The waiting period is necessary to ensure the Money Order clears through the Canadian payment process. You’re worried about bouncing a check. However, this does not influence our evaluations. That's because credit card issuers typically treat money orders as cash advances, charging a fee based on the amount of the transfer — often 3% to 5% — and assessing interest immediately. ** Western Union also makes money from currency exchange. And no matter where you buy them, it’s safer to buy in person. Postal Service money orders as they would regular checks at branches, ATMs or even on a banking app with a mobile check deposit function. Another option: A wire transfer, if you need the money there faster and are willing to pay more. How to pick between a cashier's check and a money order. Be careful to ensure that everything is accurate because you won't be able to change the information afterward. Most banks charge a fee for money orders, though they may waive the fee if you have certain types of accounts with them. https://firstquarterfinance.com/gas-stations-that-do-money-orders A wire transfer, if you need the money there faster and are willing to pay more. Money transfer agents (convenience stores, supermarkets, etc.). However, keep in mind that money orders sent by mail can take a long time to reach their destination. To obtain information on pricing, see Canada Post Prices. Pre-qualified offers are not binding. The post office charges $1.20 for orders up to $500 and $1.65 for $500.01 to $1,000. The customer can either mail it to the destination or deliver it himself. That means they're backed by large agencies or corporations instead of individuals, making them especially valuable because of the safety and reliability they provide. Money orders are available in several places, including the U.S. Other Options . Postal Service money orders can be sent to about 25 countries. In those cases, you'll have to use a debit card or cash to buy a money order. What does a money order cost at some of the biggest U.S. banks? United States Postal Service (USPS) and Western Union money orders, for example, have different formats. Fill it out: In addition to the payee’s name, you’ll need to add your name (and maybe your address) and sign the money order. Our opinions are our own. As long as your money order hasn't been cashed, you can likely get a replacement or a refund — but it could take a month or longer. Because money orders are prepaid, they can’t be rejected for insufficient funds. Banks accept U.S. In the market for a provider? Not all providers offer international money orders; some post offices do, but they cost more, although there’s a discount for those purchased at military post offices. A Money Order payable to a business or other organization may only be cashed at their financial institution. Money order vs. check: Money orders have a few advantages over checks, including the fact that paying up front means you won't be surprised by a cashed check and a drop in your bank balance later if the recipient waits to cash it. ; Money transfer outlets, which include places like Western Union or MoneyGram, as well as some convenience stores, drugstores, supermarkets and check-cashing outlets. When evaluating offers, please review the financial institution’s Terms and Conditions. If you don’t need the money right away and you have a bank account, consider depositing it. 2  3  But whether you buy a money order from a post office or a financial institution, the process is similar to writing a check. Money Orders may be cashed by either the payer (sender) or by the payee (identified in the Pay To section of the Money Order). USPS charges $1.25 for money orders of up to $500 or $1.75 for money orders between $500 and $1,000. 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. Money orders, unlike a personal check, offer a guaranteed form of payment. Your money order receipt will help you track your payment and show proof of value in case the money order gets lost, stolen, or damaged. Money orders are typically a safe payment method, but they can also be used fraudulently. Margarette Burnette is a savings account expert at NerdWallet. Some money orders do, while others do not. One to three years after purchase, the issuer will charge service fees when you attempt cash or refund it, meaning it will be worth less than it was at the time of purchase. Another option: One of NerdWallet's best prepaid debit cards for regular purchases. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. A money order is a piece of paper that’s a safe alternative to cash or personal checks. As long as your money order hasn't been cashed, you can likely get a replacement or a refund — but it could take a month or longer.”. Military money orders cost just 40 cents. Watch for red flags. You’ll need to bring your receipt and the money order itself, if you have it, to the place where it was purchased. If the money order was cashed, you may still be able to get your money back, but you'll generally have to involve the police. You can also try to cash money orders at retail outlets like check-cashing stores, convenience stores, and grocery stores. 7-Eleven. Have everything you need: Be prepared with cash or a debit card, the name of the payee and the amount you want to send. 1  Then, all you need to do is fill out a … You can purchase a money order with cash or with a debit or credit card. A money order is a paper document, similar to a check, used as a form of payment. Regarded as a "safe" payment option, various types of money orders are available through banks, money services businesses and even the … Emergency Fund: What It Is and Why It Matters. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All about money orders In addition to the payee’s name, you’ll need to add your name (and maybe your address) and sign the money order. … Prices vary for money orders based on the merchant. Her work has been featured in USA Today and The Associated Press. Most money orders typically have a $1,000 limit, so yo… This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. The scoring formulas take into account multiple data points for each financial product and service. Some outlets allow you to buy a money order with a credit card, but others don't, including Walmart and the U.S. When buying a money order, you may need to show photo identification. The receipt will be a carbon copy of the money order or a paper slip recording the information entered on the money order. Postal Service. Wherever you go, you’ll probably need to show identification. .) A money order is the right solution when cash or a check won’t cut it Western Union ® money orders offer a reliable, convenient alternative to cash or a check. 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