You can use money orders in lieu of cash or checks to make payments in person or through the mail. Every U.S. post office accepts debit cards as payment for money orders. A money order is a piece of paper that’s a safe alternative to cash or personal checks. When it comes to grocery stores, Publix is one of the cheaper places to get a money order. It is a safe way to send money (locally) through the mail. The two main companies that produce money orders are Western Union and MoneyGram. After all, a check can bounce. 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. You also prepay for a money order, at a location such as a U.S. post office, Walmart or Western Union. They're available for sale at banks, credit unions, the U.S. Post Office, and even Wal-Mart stores. A cashier’s check is a type of official check that banks issue and sign. Pre-qualified offers are not binding. Publix. Must be purchased in a branch. Standard fees exclude all digital pricing and other promotional pricing. With over 8,500 locations in the U.S., 7-Eleven is one of the first retailers that pops to mind … $5 for up to $1,000. at American Express National Bank, Member FDIC. And no matter where you buy them, it’s safer to buy in person. We contacted QFC locations in Portland and throughout the Seattle area. Margarette Burnette is a savings account expert at NerdWallet. You can expect to pay at least $5. Keep the receipt: The receipt will be a carbon copy of the money order or a paper slip recording the information entered on the money order. Money orders are not free. NerdWallet strives to keep its information accurate and up to date. The issuer will probably have you fill out some paperwork, using information from your receipt, and you'll likely pay a fee. In addition to the payee’s name, you’ll need to add your name (and maybe your address) and sign the money order. The Direct Service enables a customer to purchase a postal Money Order and send it directly to the payee in Canada where the Money Order is cashed at its face value. 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. Postal Service. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. 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. Pre-qualified offers are not binding. Get answers about stimulus checks, debt relief, changing travel policies and managing your finances. A money order is a convenient, widely accepted form of payment. 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. Be careful to ensure that everything is accurate because you won't be able to change the information afterward. In the market for a provider? When evaluating offers, please review the financial institution’s Terms and Conditions. The receipt will be a carbon copy of the money order or a paper slip recording the information entered on the money order. The cost depends on where you buy them, but fees generally ranges from one to five dollars. The scoring formulas take into account multiple data points for each financial product and service. Customers may be required to provide acceptable identification in relation to Money Order transactions including enquiries. Paying with a credit card might be possible, but will usually cost extra. United States Postal Service (USPS) and Western Union money orders, for example, have different formats. Prices vary for money orders based on the merchant. How Long Does It Take to Mail a Money Order? Regarded as a "safe" payment option, various types of money orders are available through banks, money services businesses and even the … 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. Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc.: Licenses, NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer AccessLicenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, We want to hear from you and encourage a lively discussion among our users. We believe everyone should be able to make financial decisions with confidence. You specify who will receive the money order. These prices are valid as of June of 2017. It's relatively simple to find out where a money order is — as long as you've kept your receipt. Here are our. And unlike cash, you also can specify … 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. Money orders are available in several places, including the U.S. Her work has been featured in USA Today and The Associated Press. Canada Post Money Orders (direct service) are available to cash in Canada. 4 Ways to Earn More Interest on Your Money. In fact, some larger retail stores, especially grocery stores, have Western Union or MoneyGram services available at the customer service desk, so you might be able to cash your money order there for free. When to use money orders. It does not usually cash money orders, though some branches will cash them for account holders. Postal Service. 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. A money order is a piece of paper that’s a safe alternative to cash or personal checks. To protect yourself: Try not to exchange money orders with strangers. (For step-by-step instructions, check out NerdWallet's guide on. You’ll need to bring your receipt and the money order itself, if you have it, to the place where it was purchased. 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.”. Another option: One of NerdWallet's best prepaid debit cards for regular purchases. QFC Money Orders. Check-cashing locations, convenience stores and grocery stores can be alternatives, but watch out for fees. There are times when using cash or personal checks can put you at risk, or they aren’t accepted for payment. Since money orders require you to pay in advance, you don't need a bank account and you can still pay bills safely. Most major banks and all U.S. If any problems arise, contact the place where you bought the money order to get help. 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. Money Orders are purchased at a post office and are available in Canadian currency: A separate fee applies to each additional Money Order purchased. Banks accept U.S. All financial products, shopping products and services are presented without warranty. 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. You’re worried about bouncing a check. Our partners cannot pay us to guarantee favorable reviews of their products or services. Where can I get a money order? Money Orders Money orders can be issued in postal office (postal money order) and in a bank (bank money order). A Money Order payable to a business or other organization may only be cashed at their financial institution. Click here for more banks and what they charge. 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. You can find a post office near you using the USPS locator. » Still deciding? Try not to exchange money orders with strangers. Postal Service, MoneyGram and Western Union allow you to track online with information such as the serial number found on your receipt and the purchase amount. For example, San Francisco-area Western Union providers often charge around $1. A money order … Military money orders cost just 40 cents. At MoneyGram, for example, it costs $40 and can take 60 days to process. That interest rate might be greater than the rate you'll pay on a normal purchase. Postal Service ® money orders are affordable, widely accepted, and never expire. When you purchase a money order, the bank will either accept cash or direct debit your account. 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. Even if yours does, you might find yourself waiting in line. Other Options . In Canada, the postal money order is a money order issued and guaranteed by Canada Post, used to pay a specific amount of money to a third party specified on the money order. The post office charges $1.20 for orders up to $500 and $1.65 for $500.01 to $1,000. The bottom line Most banks charge a fee for money orders, though they may waive the fee if you have certain types of accounts with them. Unlike regular checks, money orders are prepaid. ; Money transfer outlets, which include places like Western Union or MoneyGram, as well as some convenience stores, drugstores, supermarkets and check-cashing outlets. This isn't always possible, but if you can, ask to be paid electronically or via another means. Here's a quick rundown of what you need to do to get a money order: Be prepared with cash or a debit card, the name of the payee and the amount you want to send. 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. When buying a money order, you may need to show photo identification. The waiting period is necessary to ensure the Money Order clears through the Canadian payment process. Tracking a money order does cost extra, though. Walmart charges 70 cents for a $1,000 money order. Send Money Orders Internationally 7-Eleven. 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. Often around $5. 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 … 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. Most money orders typically have a $1,000 limit, so yo… 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. This can be preferable for people who … Wherever you go, you’ll probably need to show identification. A money order is a piece of paper that’s a safe alternative to cash or personal checks. You can transfer your money to make payments or purchases locally or around the world. Almost all of them sold Western Union money orders; however, none of the QFC locations we contacted would cash a money order of any type. QFC sells money orders at most locations but does not cash them. Our partners compensate us. When evaluating offers, please review the financial institution’s Terms and Conditions. … 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. Check-cashing locations, convenience stores and grocery stores can be alternatives, but watch out for fees. MONEY ORDER SERVICESCANADA POST2701 RIVERSIDE DR STN 25OTTAWA ON  K1A 0B1. All financial products, shopping products and services are presented without warranty. A money order is a certificate, usually issued by a government or banking institution, that allows the stated payee to receive cash on demand. Costs increase if you're sending money internationally. Without the receipt, you'll likely have to file a research request to find your money order's serial number, and that's expensive and time-consuming. A money order is a paper document, similar to a check, used as a form of payment. Many or all of the products featured here are from our partners who compensate us. Track your money order: Your receipt will also have a tracking number that you can use to verify that the money order got to the intended recipient. Verify the funds. (For step-by-step instructions, check out NerdWallet's guide on how to fill out a money order.) If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. You'll get a better deal at Walmart or a money transfer agent, and you'll typically pay more at a bank. We also detail what you need to bring when buying a money order. 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. Canada Post Money Orders (direct service) are available to cash in Canada. Not all money orders work abroad, but U.S. It is a safe way to send money (locally) through the mail. Be prepared with cash or a debit card, the name of the payee and the amount you want to send. In most cases, your money order will not expire but will depreciate in value. .) Postal Money Orders are certified cashable documents that you send through the mail. For example, USPS money orders are only accepted in 28 countries outside America.⁵ And Western Union money orders purchased in the States may only be able to be cashed in the US.⁶ If you aren’t sure, ask your money order provider if its money orders are accepted in the recipient country. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. How much does it cost? 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. You can buy or cash postal money orders at any Post Office ™ location. Always ask the vendor if the money order has an expiration date. Use them to give a gift, make a purchase, or even pay a bill. How to pick between a cashier's check and a money order. Our opinions are our own. 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. You can also try to cash money orders at retail outlets like check-cashing stores, convenience stores, and grocery stores. Since money orders require you to pay in advance, you don't need a bank account and you can still pay bills safely. Our list of the best high-interest savings accounts. You don’t have a checking account. 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. 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. USPS charges $1.25 for money orders of up to $500 or $1.75 for money orders between $500 and $1,000. You’re sending money internationally. ** Western Union also makes money from currency exchange. Postal Service money orders can be sent to about 25 countries. Can I buy a money order with a credit card? Don’t forget to sign the back of the money order before depositing. We have more details of the TD Bank money order policy below. However, both of these companies allow money orders to be sold at several locations around the U.S. (For alternatives, see list of places that do cash money orders .) To obtain information on pricing, see Canada Post Prices. Because money orders are prepaid, they can’t be rejected for insufficient funds. What does a money order cost at some of the biggest U.S. banks? Some outlets allow you to buy a money order with a credit card, but others don't, including Walmart and the U.S. NerdWallet tracks your spending and spots ways to save — for free. Have everything you need: Be prepared with cash or a debit card, the name of the payee and the amount you want to send. Keep in mind that many have a $1,000 limit. How much does a money order cost? And it can take a month or longer for the issuer to process your claim. Best High-Yield Online Savings Accounts of January 2021. » If you've lost a money order, find out how to claim your cash. However, this does not influence our evaluations. A money order is a guaranteed payment you can buy at places such as Walmart and the post office. Because money orders are prepaid, they can’t be rejected for insufficient funds. A wire transfer, if you need the money there faster and are willing to pay more. How Much Do Money Orders Cost? Keep in mind that many have a $1,000 limit. Money order issuers each set their own individual expiration policies. This isn't always possible, but if you can, ask to be paid electronically or via another means. Here are four examples of when money orders are the best payment method: You need to send money securely. Here’s your shortcut to 2021’s best bank accounts and more. In the market for a provider? The Money Order form consists of: a negotiable document with all other proof of purchase and claims or enquiry information printed on the Point-of-Sale (POS) receipt. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. 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. https://firstquarterfinance.com/gas-stations-that-do-money-orders The U.S. You can purchase a money order with cash or with a debit or credit card. 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. Your receipt will also have a tracking number that you can use to verify that the money order got to the intended recipient. Note that many banks will only sell money orders to accountholders. If any problems arise, contact the place where you bought the money order to get help. , and both you and that person must sign it for it to be valid, which cuts down on theft. These money orders have a reputation around the world for being safe. So how do we make money? Not all money orders work abroad, but U.S. 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. Domestic money orders have a range of costs, from under a dollar up to around $5, depending on where you buy them. Money transfer agents (convenience stores, supermarkets, etc.). (Read up on certified checks and find out more about cashier’s checks.). Depends on the provider. 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. 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. Getting the money deposited in your account involves the same process as getting the money order cashed. Generally, there are only a few companies that actually produce money orders. A postal Money Order is a certified, cashable document guaranteed by Canada Post. U.S. Or check out our best ways to send money internationally. Disclaimer: NerdWallet strives to keep its information accurate and up to date. How to pick between a cashier's check and a money order. Another option: A wire transfer, if you need the money there faster and are willing to pay more. (. Money orders can also be purchased at grocery stores, banks and credit unions, convenience stores, and U.S. post offices. If you don’t need the money right away and you have a bank account, consider depositing it. Be careful to ensure that everything is accurate because you won't be able to change the information afterward. Postal Service money orders can be sent to about 25 countries. However, getting a USPS money order can be hard—not all post offices issue money orders, so call ahead to confirm. $5 for up to $1,000; free for premium accounts. Money orders are typically a safe payment method, but they can also be used fraudulently. 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. The U.S. Postal Service money orders as they would regular checks at branches, ATMs or even on a banking app with a mobile check deposit function. You pay the amount on the money order and a fee for the service. You pay the amount on the money order and a fee for the service. 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.”. Short Answer: TD Bank will generally only issue money orders if you have an account, and there is a $5 fee. Money Orders may be cashed by either the payer (sender) or by the payee (identified in the Pay To section of the Money Order). A Money Order issued in Canada may be cashed at any post office in Canada without charge. Do Money Orders Expire? Here are some of the most convenient stores where you can go to purchase a money order. 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. Please help us keep our site clean and safe by following our, Prevent identity theft, protect your credit, The difference between term and whole life insurance, How medical conditions affect your life insurance rate. Or check out our. But the process varies slightly by issuer. If you no longer have the money order or you made a mistake on it, you may be able to cancel it and get a replacement or refund — as long as the money order hasn't been cashed. However, keep in mind that money orders sent by mail can take a long time to reach their destination. For valid refunds of Canadian Money Orders*, the waiting period is 45 days (some conditions apply) from the day of purchase. Money orders, unlike a personal check, offer a guaranteed form of payment. Depends on the financial institution. 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. This may influence which products we write about and where and how the product appears on a page. NerdWallet's ratings are determined by our editorial team. A customer wishing to determine the status of their Money Order(s) when the payee claims it was not received or the sender claims to have misplaced or lost the Money Order will need to call the Money Order Verification Service (MOVS) at 1-800-563-0444. Must be purchased in a branch. 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. 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. Wherever you go, you’ll probably need to show identification. Here is a list of our partners. 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. This may depend on what money order service you use and how the money order is issued. 1  Then, all you need to do is fill out a … Reap a higher return by stashing your cash in a high-yield savings or checking account, a CD ladder or a credit union. Some money orders do, while others do not. All about money orders Watch for red flags. *Standard fees are the money transfer fees paid by non-My WU members at Agent locations other than Walmart and select Agent locations offering special pricing. Money orders can cost as much as $5 at a … You can purchase and cash a money order from:. Paying with a credit card might be possible, but will usually cost extra. 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. Even if the provider you choose does let you pay with a credit card, it'll be much cheaper not to. , at a location such as a U.S. post office, Walmart or Western Union. The customer can either mail it to the destination or deliver it himself. For example, Western Union charges $15 to replace a money order. In those cases, you'll have to use a debit card or cash to buy a money order. The Best-of Awards List has dropped. NerdWallet's compound interest calculator will show you how much your savings and investments can grow over time.

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