Best Place To Buy Money Orders
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Best Place To Buy Money Orders
When you purchase a money order, the total you pay will typically be slightly higher than the value of the money order itself. The difference is due to the fee the provider charges. Here is a list of the 10 best places to purchase money orders, considering maximum limits and fees.
Western Union is a popular option for money orders. As with most money order providers, Western Union representatives confirm caps of $1,000 on money orders. The challenge is that Western Union does not have a set fee across all its branches, often because it can be housed within other businesses like Kroger.
Most 7-Eleven locations offer money orders. However, as is the case with Western Union, the fee you will pay depends on the location you visit. You will typically pay between 1% and 3% of the total value of the money order. Also, 7-Eleven limits money orders to $500 each.
Kroger is a low-cost option for accessing money orders. If you are a member of Kroger, you will only pay $1 each. If you are not, you will pay $1.10 each. Money orders at Kroger are typically capped at a total value of $1,000, but the company may wave this cap in certain circumstances. If you need a money order with a face value of more than $1,000, call your local Kroger store and ask if your circumstance qualifies.
If you live in Illinois, Indiana, Kentucky, Michigan, Ohio or Wisconsin and you have a Meijer nearby, you are in luck. This company offers money orders for a fee of just $0.65 each. Even better, you can purchase money orders with your debit card as opposed to cash and incur no additional fee.
Publix is not just a grocery store, but the company also offers a wide range of financial services, including money orders. Like Meijer, it is also one of the cheapest places to get a money order: the company charges between $0.89 and $0.99 per order with a maximum value of $500.
How much is a money order at Walmart The answer is $1 or less. Walmart states that its fee for money orders will vary by location, but it will never be over $1. And like most places, the company also limits the value of money orders to $1,000.
Whether you need a money order to place a deposit on a new apartment or pay for services from a provider that does not accept checks, you will not have to look too hard. Compare the fees and limits of the services above and you will be ready to roll.
When sending money by mail, use money orders as a safe alternative to cash and personal checks. U.S. Postal Service money orders are affordable, widely accepted, and never expire. 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.
There are many advantages to using a money order. A money order is convenient and inexpensive. Grocery stores, post offices, check cashing stores and many other places sell money orders. The fee to order a money order is typically a couple dollars or less, depending on where you purchase it.
Money orders are official documents representing a specific monetary value, similarly to written checks. However, money orders are different from other forms of payment in a few different ways, which you can read about below. What's important to know up front is that money orders are prepaid, so you must be able to pay for the full amount you want to include in your money order when you go to purchase it. For example, if you want to send a $100 money order to a family member, you need to be able to pay $100 up front in order to create the money order. Money orders aren't a form of credit and don't require a credit score, and you don't even need a bank account to pay for one. This makes money orders an accessible form of payment for people in a wide variety of financial situations.
Money orders are great to use in situations where other forms of payment are either unavailable or unsafe. The nature of a money order essentially makes it as good as cash, which might make it reassuring if you're skeptical of whether someone who's paying you with a money order is able to settle a debt. You can use money orders to pay off personal debts to other individuals, pay bills to companies, or send gifts. There are no formal legal restrictions on what you can use money orders for in the US. However, money orders may not be valid internationally. If your payee is located outside of the US, make sure to check on whether they'll be able to cash it in their country. Find this out up front before you purchase. You may be able to cash your own money order if you can't actually use it for its intended purpose, but you may not want to take this risk or deal with the hassle.
There are some distinct advantages to using money orders, but there are also some drawbacks. Consider these other forms of payment as options in addition to money orders before purchasing. Though money orders protect against some types of fraud, they aren't fraud proof. Money order scams are relatively common, so consider your payment method carefully, particularly if you don't know the payee.
Since most places have a maximum of $500 or $1000 per money order, you may need to purchase multiple money orders if you need larger amounts than this. However, some locations require you to fill out additional forms before they will sell you multiple money orders.
When you buy a money order, you will need to include information about the purchaser (you) and the recipient. Write the name of the intended recipient in the "Pay to the Order" field, and your full legal name and address in the appropriate fields. Some money orders may not ask for your address. Finally, sign and date the money order, and keep the receipt.
You can cash a money order in the same places that issue money orders, such as a bank, credit union, Post Office, check-cashing store, or even some convenience and grocery stores. There may be a small fee for cashing the money order, which you can skip by depositing the money order into a bank account.
Money orders do not expire, but depending on the state and issuer, they may incur additional service charges if you cash them more than a year after they were issued. These terms will be described on the back of your money order. However, domestic money orders from the U.S. Postal Service will never expire or lose value.
Money orders must be made out to a specific person or business and can only be cashed by that recipient. Because cashing a money order requires presenting ID in person, you typically don't have to worry that a thief will get their hands on your funds.
Money orders often have a limit of $1,000, although some issuers have smaller limits. If the amount you need to send is larger than that, you'll have to buy more money orders. For instance, if you wanted to buy $3,000 in money orders from a location that limits money orders to $500 each, you'd have to buy six money orders. There may also be limits on the total dollar value of money orders you can buy in one day. For example, the U.S. Postal Service limits you to $10,000 worth of money orders per day. Why Should I Use a Money OrderPeople who don't have checking accounts often use money orders to make large payments, such as paying rent or making a big purchase from an individual. Some individuals may insist that you use a money order to pay them.
You can also use money orders to send money internationally, such as to relatives in another country. Most sellers of money orders have branches in major cities worldwide. Before you buy a money order to send to another country, make sure the recipient has a way to cash it near where they live.
Money orders are available from a wide range of places, including banks and credit unions, check-cashing or payday loan businesses, grocery stores, convenience stores and the post office. Members of the military can also purchase them at military facilities.
You'll pay a small issuing fee based on the money order amount. Fees vary depending on the location issuing the money order; they're generally a few dollars at most. For instance, at the post office, issuing fees range from $1.25 to $1.75; at Walmart, the maximum fee is $0.88. How Do You Buy a Money Order With a Credit Card In most cases, you'll need to buy a money order with cash or a debit card. Because issuers want the money in hand before they issue the money order, you cannot pay with a personal check. The only places that let you buy a money order with a credit card are 7-Eleven stores and Western Union. 59ce067264