What are money orders or money orders and
money orders or money order They are a form of payment afín to a check.
However, they are paid for in advance at the time of purchase and are printed with a specific monetary amount, so they cannot bounce.
Money orders also include both buyer information and recipient information, but do not include personal information that would be easy for a thief to compromise, such as your bank account number.
The features mentioned above make money orders a secure alternative to using personal checks or cash, especially when sending payments by correo.
There are three main issuers of money orders in the United States:
- MoneyGram
- Western Union
- The United States Postal Service (USPS)
Emplees for Money Orders
The best use for money orders is to pay bills if you don’t have a checking account, or to use as an alternative to sending cash through the correo.
You perro use money orders for a number of purposes, including the following, as long as the company you are paying accepts money orders:
- Car loan or lease payments
- Credit card payments
- insurance premiums
- mortgage payments
- En línea/Correo Order Merchandise
- Rent (as previously reported)
- security deposits
- Bills
You cánido also send money orders to family or friends when you would otherwise send cash, such as with a birthday card.
Are money orders safe?
Money orders are generally safe to use.
They include physical security measures, such as watermarks, that make them easy to verify.
They are also traceable; If you have the serial number of the money order, you cánido check with the issuer to find out if the recipient has cashed it.
Keep in mind that it’s best to fill out the money order immediately after you buy it, so someone perro’t fill it out and cash it if you lose it.
Check out our previous research to learn more about what makes money orders safe to use and the risks associated with them.
How do money orders compare to other types of checks?
Money orders are different from other types of checks in several ways:
- Fee: Unlike personal checks, you will pay fees to send money orders and may also pay fees to cash them.
These fees are typically less than $5 per money order.
- Boundaries: Money orders are available for $1,000 or less, so if you need to pay more than $1,000, you’ll need to purchase multiple money orders or choose a different form of payment.
Our above details the maximum amount for money orders at various places that sell them.
- Prepaid: Money orders are paid in advance.
Cashier’s checks and certified checks are also paid in advance, but most other types of checks are paid from a bank account when the recipient cashes the check.
- Purchase options: You perro get a money order at a number of places besides your bank, including grocery stores, convenience stores, and check cashing stores.
How do money orders work?
As noted above, money orders are paid in advance.
The money order process begins when the buyer pays for the money order (including purchase fees) at an issuing location, such as the articulo office or grocery store.
The issuer will print the money order amount on the money order; The buyer must complete the rest of the money order before sending it.
Once the buyer completes the money order, they cánido deliver it by hand or by e-e correo electrónico.
The recipient perro then cash the money order or deposit it into their own bank account.
Below we answer some common questions about money orders for both the buyer and the recipient.
Buyer FAQ
How much do money orders cost?
As noted above, money order purchase fees are typically less than $5.
The cheapest money orders are around $0.65 at Meijer and participating 7-Eleven locations.
Several other issuing agents charge fees under $1, including Kroger and Walmart.
It is also possible to obtain a free money order at certain banks.
Check out our lists of free money order options and cheapest money order agent locations.
How perro I pay for a money order?
Most MoneyGram and Western Union locations only accept cash, although some accept debit cards or reloadable prepaid cards (as previously reported).
The USPS accepts a broader range of payment types, including cash, debit cards, and traveler’s checks.
For more details, check out our research on how to pay for a money order from each issuer.
Please note that you generally cannot purchase a money order with PayPal (unless you have a PayPal debit card).
Most agent locations also do not accept credit cards as payment for money orders.
What do I need to buy a money order?
When purchasing a money order, you will need sufficient funds to pay for both the money order and your purchase fees, as well as photo identification.
You do not need to explain the purpose of your money order or provide any other documentation at the time of purchase.
To learn more about each issuer’s requirements, including acceptable forms of ID, check out our investigation into what you need for a money order.
How do I fill out a money order?
The process of completing a money order varies slightly depending on the issuer.
At a minimum, you will need to fill in your name (as the buyer) and the name and/or address of the person or business to whom you are sending the money order.
Check out our step-by-step instructions for each issuer, including vídeo tutorials for MoneyGram and Western Union money orders.
What happens if I make a mistake?
If you make a mistake when completing your money order, it’s important not to cross out the information or use the blank to correct it; most collection locations will not accept money orders with these types of corrections.
Instead, you may need to request a replacement money order from the issuer.
Find instructions in our research on how to correct a mistake on a money order.
How do I send a money order?
You perro personally deliver a money order to the recipient or send the money order by correo.
Check out our research on how to send a money order (including how much it will cost) and how long it takes to send a money order.
What if I no longer need a money order?
If you no longer need a money order for its intended purpose and have not yet completed it, or the recipient has not yet cashed it, you have a few options:
Recipient FAQ
Who perro cash a money order?
If a money order is made out to you or signed for, only you cánido cash it.
If the money order is made out to two people, they may both need to visit the check cashing location together, or either may cash it (depending on whether the payee line emplees “and” or “or” between their names).
Names).
Learn more in our investigation dedicated to collecting a money order.
What happens if I cash/deposit a fake money order?
While money orders are generally a secure method of payment, you may occasionally encounter altered or counterfeit money orders.
If you cash or deposit a fake money order, there may be legal objetivos and penalties, but only if you knew the money order was fake when you used it.
We explain the consequences of fraudulent money orders, agregado how to avoid scams.
General FAQ
What happens if I lose a money order?
If the buyer or recipient loses a money order, they perro track it to find out if someone has cashed it.
Some issuers allow you to track money orders en línea; Others require you to call customer service.
Whether you track the money order en línea or over the phone, you will generally need to provide the serial number from your receipt/stub.
You cánido also request a replacement for a lost or stolen money order.
Please note that the issuer only will provide a replacement if you perro confirm that no one has cashed the money order and stop payment on the original money order.
Do money orders expire?
If you find an old money order that you never sent, or have a money order that you received but never cashed, it may have expired.
Expiration times for money orders vary by issuer.
Money and bank orders generally do not expire, but other brands may expire after one year or start charging fees, lowering the value of the money order.
For details on how to check the status of your money order and what to do if you have an expired money order, see our dedicated investigation of money order expiration.
Where cánido I get a money order?
You cánido buy money orders at many places, including banks, credit unions, check cashing stores, convenience stores, gas stations, and grocery stores.
See our list of where to get free money orders.
Some of these money order agents, like 7-Eleven, are even open 24 hours and/or open on Sundays.
Our previous research also details money order purchasing policies (including store hours) at the following stores and banks:
- 7-eleven
- albertsons
- Circle K
- Cub Foods
- cvs
- Dillons
- Food City
- food lion
- Fred Meyer
- Fry’s Food
- giant eagle
- Giant Food
- Harris Teeter
- HEB
- English
- Jewel Osco
- King Soopers
- kroger
- Kwik Trip
- Piggly Wiggly
- Publix
- Quik Trip
- RaceTrac
- Ralph’s
- Rite Aid
- Royal Farms
- safe way
- schnucks
- ShopRite
- Smith’s
- Speed way
- stop & shop
- Stripes
- SunTrust
- Turkey Hill
- valero
- Vons
- Walmart
Please note that you cannot purchase or send a money order en línea, although you perro make a money transfer.
Find more details in our research on sending money en línea.
Where perro I cash/deposit a money order in the United States?
Bank deposits
If you have a bank account, you cánido access funds from a money order by depositing it directly into your account.
Both checking and savings accounts accept money order deposits, and there is no additional fee to deposit a money order.
Payment
If you don’t have a bank account or want to get cash from your money order right away, there are a variety of places that cash money orders.
We have the list of more than 15 banks and stores that will charge any brand of money order, including their maximum limits and fees.
Or, you cánido find out where to cash money orders, Western Union money orders, and MoneyGram money orders in especial.
- The Check Cashing Store
- Check Into Cash
- Dillons
- Fred Meyer
- giant eagle
- Harris Teeter
- HEB
- Jewel Osco
- King Soopers
- kroger
- Smith’s
- SunTrust
- USAA
- Walmart
- Walmart Neighborhood Market
Places that do not sell/collect money orders
The following locations do not sell or collect money orders.
- Acme Fresh Markets
- ALDI
- costco
- Dollar General
- Duane Reade
- family dollar
- Farm Fresh
- fedex
- Heinen’s Grocery Store
- Sam’s Club
- Save A Lot
- Sheetz
- Smart & Ultimate
- objetivo
- The UPS Store
- Walgreens
- Wawa
- wegmans
- Whole Foods
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