Money orders are waived by some banks if you have a special account. USPS charges $1.25 for money orders of up to $500 or $1.75 for money orders between $500 and $1,000. Keep your receipt to track the money order. International postal money orders may be sent by Priority Mail Express International service, Priority Mail International service, First-Class Mail International service, or First-Class Package International Service. That’s because you purchase a money order with cash or another guaranteed form of payment, such as a traveler’s check or a debit card. The limit for money orders from Walmart is also higher than the one offered by 7-Eleven – $1,000 max. Postal military money order (issued by military facilities) 0.30. You’ll be happy to know that your local U.S. government post office, USPS, will sell you money orders as well. Some post offices won’t charge a fee for USPS money orders either. 08-29-2012, 06:21 AM. The issuing financial institution must also have its name printed on the order. To purchase the money order, be prepared with a way to pay for both the face value of the money order and the fee. MDxOD. The general fee for money orders can range from 50 cents to $10 and up, depending on where you get one. Do You Need To Claim The Second Stimulus Check? 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. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. 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 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 In a world of digital payments, the humble money order may seem somewhat quaint. 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. What's The Difference Between A Bank And A Credit Union? International money orders cost $4.50 for any amount. However, those fees are less than for guaranteed bank checks. Money orders are sent by mail to the recipient. Usage. Hours of Operation Monday–Friday: 8 AM–8 PM ET If you need to purchase an expensive item, you may feel uncomfortable carrying cash. He is an expert in real estate, mortgages and credit. 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. For instance, Wells Fargo waives money orders if you have a preferred checking or Wells Fargo At Work Checking Account. Here’s what you need to know about what a money order is, how money orders work and when and how to use them. You’ll also need to provide a government-issued photo ID to cash it. © 2021 Forbes Media Global Express Guaranteed ® 82 000 000 00 Priority Mail ® 9205 5000 0000 0000 0000 00. 1.50. As a small business owner and former financial advisor, Daphne has first-hand experience with the challenges individuals face in making smart financial choices. Examine the Paper – Hold the money order to a light (or at an angle) and check for a watermark. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. USPS money orders may be obtained from any USPS location, or from a rural route carrier. 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. They may be purchased in any denomination up to a set limit, and several may be purchased at one time if it is necessary to exceed this limit. Check out these new top banks that people are talking about: Read More: See MyBankTracker’s Best Banks Picks of the Year. 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+. Here are the fees: You don’t need an account to get a money order from Western Union. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. How much does it cost to transfer money using USPS? Walmart money orders are 60 cents and has a limit of up to $1,000. USPS charges $1.25 for money orders of up to $500 or $1.75 for money orders between $500 and $1,000. For example, at the United States Postal Service (USPS), you can’t purchase a money order for more than $1,000. Service / Sample Number. With over 30,800 post office retail locations in the United States, there’s bound to be one near you. When Will I Get It? You’re likely to pay the lowest fees for cashing a money order by going to the institution that issued the money order. Unlike a check, money orders can’t bounce. Money orders do have certain limits, however. Second Stimulus Check Calculator: How Much Will You Receive? 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. Provider: USPS. 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. Send the money order via Priority Mail Express International ® , Priority Mail International ® , First-Class Mail International ® , or First-Class Package International Service ® . Money order loss or theft may take up to 30 days to confirm. Finally, money orders are also commonly used in scams. Fortunately, there are some places where you can get free money orders. There’s also a spot for your signature, which may be required unless you are purchasing a USPS money order. Money orders are safe compared to online and card-based payments because they do not include any important account numbers. Other issuers may charge a fee of $3 to $20 or so. 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. Remember, when depositing a money order, it’s smart to wait to spend any of the money until the full amount clears your bank. Grocery stores and department stores also offer inexpensive money orders. Don’t get them confused with a cashier’s check, which is only obtainable from your bank. If you receive a money order in the mail from someone who you are not familiar with, chances are it’s a fake. Compare money transfer services now. This makes them more secure to mail and deliver than checks. Pay the dollar value of the money order, the issuing fee of $10.25, and the processing fee based on country. You will pay a fee when you purchase a money order from USPS. If you do end up cashing a fake money order, you may be liable for the money spent when it comes back rejected. 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. This site may be compensated through the bank advertiser Affiliate Program. The USPS is most affordable at $6.15, but other issuers charge $15 or more to research potentially lost or stolen payments. But keep your receipt, so you can track and recover funds if your money order is lost or stolen. If you have money order related questions, please email the Accounting Help Desk or call 1-866-974-2733. 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. She is the author of four books, including End Financial Stress Now and The Five Years Before You Retire. Do not sign the money order before going to cash or deposit it. In addition, when purchasing a money order, you must provide the name of the payee (the recipient). 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. To start, they are not a convenient form of payment, since they must be purchased in person. Tip: If you have a higher tiered checking account, check to see if your bank offers free money orders. International money orders from the United States Postal Service can be cashed in 29 countries. For instance, the post office cashes USPS money orders for free. [10-18-20] A purchaser, payee, or endorsee may, at any time, inquire about payment of a domestic money order by completing, signing, and filing Form 6401 and paying the appropriate fee; a separate form and fee are required for each money order. Payments using the no-fee money orders totaled $178,000. 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. Although money orders serve a useful purpose, they do have several drawbacks. If you need a secure payment option, you can purchase a money order from one of the institutions or establishments that sell them. Contact the Recipient . They are the preferred form of payment for some transactions. Domestic money order $0.01 to $500. Western Union fees: could range anywhere from 50 cents to … Walmart issues money orders from MoneyGram, and you will pay a small handling fee of 70 cents per money order. Some sellers request money orders (or. These prices are valid as of June of 2017. As an example, three local Los Angeles Western Unions were contacted by MyBankTracker. 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. You can’t purchase a money order with a personal check or a credit card. LLC. 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 Just like with banks, Western Union does not provide a set amount for a money order. Fee: $1.20 per money order up to $500, $1.65 for money orders over $500. Where Is My Stimulus Check? This compensation comes from two main sources. 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. Prominator. The Forbes Advisor editorial team is independent and objective. 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. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. Investigating a money order's lost or stolen status may take up to 60 days. This is because the rates fluctuate so much from location to location. Fee: From 45 cents to $1.75 domestically; $10.25 plus country-based processing fee for international money orders. 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. 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. 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. Stay in the … Take your money order receipt to any Post Office location. Here’s what you need to know. A representative informed me to go into a local branch to find out how much will be taken out. Anyone that needs to send more than $1,000 will need to get two separate money orders. Daphne Foreman is the Banking and Personal Finance Analyst for Forbes Advisor. Money orders are a secure payment method, similar to a check that has been prepaid. 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. Money orders are usually considered a safe way to send and receive money. Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. 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. Educate yourself on how to detect a fake money order, that way you’re never tricked into cashing a fake money order. All Rights Reserved. However, money orders are different from personal checks in that their payment is guaranteed. They are more secure than carrying cash. It could take up to a couple of weeks for your bank to determine whether or not a money order is fake. How to fill out a Walmart Monday order https://www.youtube.com/watch?v=iTi22k7FnakInstagrame @CristinSierraShop my … Be leery of any money order sender who seems to be in a hurry for you to deposit the document. If you need to provide a guaranteed payment, a money order is a low-cost option widely available at many locations across the country. There is a $6.25 processing fee to replace a lost or stolen money order. 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. The maximum amount for a single international postal money order is $700 unles… Money orders can cost as much as $5 at a retail bank. Money orders can cost as much as $5 at a retail bank. User Generated Content Disclosure: These responses are not provided or commissioned by the bank advertiser. This drawback was likely the primary incentive for establishment of the Postal Order System on 1 January 1881. Many Americans Have Already Received Their $600 Stimulus Payments—Have You? Money orders can be cashed at any USPS counter, but access to the service depends on the cash available at the facility. A representative explained the rate varies by location. Maximum amount per money order—$1,000 $500.01 to $1,000. Most banks charge $5, $10, or 10 percent of the total amount on the money order. quality software with free resell rights. Fees are another potential downside of money orders. 08-30-2012, 01:30 AM. Finally, check cashing stores will often cash money orders for a modest fee. 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. They also have a purchase maximum (up to $1,000 at USPS) that limits their convenience. 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. Are you sure you want to rest your choices? How to fill out a USPS Money Order - YouTube. For most of the countries that accept USPS money orders, the limit is $700 per order. The humble money order may seem quaint, but it’s not going anywhere anytime soon. personal check just to see when they withdraw the money. This is why it’s important to closely inspect any money order you receive for tampering, misspellings or other signs of fraud. USPS Tracking ® 9400 1000 0000 0000 0000 00. The limit is $500 per order … The fee associated with cashing money orders from Western Union ranges between 1 percent to 3 percent, depending on the amount. Fee. You may want to call ahead if you have a large money order to cash. 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. 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. Pay Service Fees . 2. CVS Pharmacy also offers money orders for 99 cents, with a maximum value of $500. In a world driven by convenience, it may seem like there is no room for money orders. If you have a USPS money order, then going to your local post office is a great option for cashing a money order, as it’s so convenient. However, in general, these fees could range anywhere from 50 cents to $1.50 and more. When purchasing the money order, first verify that the amount is correct. Additionally, yo… Forbes adheres to strict editorial integrity standards. 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. Who Is Eligible For The $600 Stimulus Check? Money orders never expire, and they are a safe and trackable way to send money as a gift or as payment. Sellers sometimes impose a limit on the size of the money orders they sell, and they typically charge a fee for each order. A lost or stolen money order can be replaced for just $6.45. 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 … If you are the recipient of a money order, you can generally deposit it into your bank account for free. The current price for domestic money orders at USPS are as follows: Domestic money orders can only be purchased for up to $1,000. Best Personal Loans For Debt Consolidation. The local (Los Angeles) Wells Fargo, Chase, and U.S. Bank charge a flat rate of $5 and only offer domestic money orders. 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. U.S. Bank waives the fee for those that have a platinum checking account. 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. Both money orders and wire transfers are secure. I used a USPS money order, its also trackable with a fee. Then fill in your name and contact information and the recipient’s information. Those who used a USPS money order (getting mine tomorrow)...On the first line where its pay to did … 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. But you may have to pay a fee of up to a few dollars. Most banks require that you have an account with them to get a money order. 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 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. If you are going to attempt to cash a money order at the post office, you may run into difficulty. These include: Each money order has a nominal fee, which can cost under a dollar at some retailers. 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. May feel uncomfortable carrying cash that needs to send and receive money 3000. There are some places where you get one ll also need to provide a government-issued photo ID to cash more... Educate yourself on how to fill out a USPS money orders limit on the size of total... Most banks require that you have money order ) 5.20 600 Stimulus check insurance and investing cashed 29. A representative informed me to go into a local branch to find out how much will taken! Order you receive … money orders have a premiere or private account with the individuals... A credit card editor, writer, and it can be replaced for just $ 6.45 include important! Delivery Hold for Pickup 9303 3000 0000 0000 00 seem usps money order fee, but to. 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