Good news is, Walmart both sells and cashes MoneyGram money orders (they don’t indicate if they can cash money orders from other issuers, so call the store to verify before making the attempt). They can be purchased in denominations of up to $500 or $1,000. All Rights Reserved. Send money with Western Union wherever you are. Don’t sign the money order until you are ready to hand it over to the employee at the store or bank. Find out the fee. It means you don’t have to wait for a check to clear for the amount to leave your account, giving you full transparency over how much money you have. They can be purchased with cash, debit card or travelers checks. Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance book Soldier of Finance. Numerous banks are known to close down accounts if they notice too many money order deposits. All third party trademarks, including logos and icons, referenced in this website, are the property of their respective owners. All about money orders . But you will generally need to pay a small fee. While there are countless banks and stores that sell money orders, finding places that will cash them can be a bit more difficult. Sometimes, especially in smaller towns post offices may not do enough business in a day to cash a large money order. It costs between $3 and $6 to cash a money order at Walmart, depending on the amount of the money order. A money order from the MoneyGram financial service can be cashed in the United States at various locations, including banks, grocery stores and dedicated check-cashing facilities. You’ll need to check the Western Union location page to find a Western Union agent, then call to make sure they also cash money orders. This article will give you the low-down on … Since banks have large amounts of money on the premises, they’re likely to be able to pay the full amount at once. Even if you aren’t an account holder at a bank, you can still cash a money order at most banks. The best bet for cashing a money order is at your own bank, but some banks will also cash money orders for non-customers. Bring your money order to a location that will cash it. The US Post Office is one of the most common places to both buy and cash money orders. If you do deposit the money order into a bank or credit union account, access to the cash will be subject to the fund’s availability policy of the institution. The USPS also issues money orders which can be purchased at local post offices but are not sold at third party retailers. You can either cash or deposit the money order. For example, at most Walmart stores, you can cash a money order issued by MoneyGram for a maximum fee of $4 if the value is $1,000 or less or a maximum fee of $8 if the value is $1,001 to $5,000. Western Union is a common issuer of money orders, and widely available at retail locations across the country. In this article, we’re going to focus on the flip side of that arrangement – cashing and depositing money orders at locations close to home. Most Walmart stores do cash MoneyGram money orders, but be sure to check with any location you plan to visit to make sure. Final Thoughts on Where to Cash Money Orders Near Me. Since you likely have other business at your bank or credit union, you won’t need to make a special trip just to cash or deposit the money order. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. But also in situations where you need to make a payment, but don’t want to provide any of the personal information that appears on checks or credit cards. It doesn’t need to be the exact physical location. There’s two things that you’ll need to do before you can convert your money order into cash: endorse the money order and validate your identity. We have an advertising relationship with the companies included on this page. At Western Union, each location is allowed to assign its own fees, so there are no set rates. If you receive a money order, you can often (but not always) cash it anywhere money orders are sold. Since they’re fully paid at the time of purchase, it may be hard to imagine how a money order can be fraudulent. Are Roth IRA Contributions Tax Deductible? Let’s take a look at the different types of places that will cash money orders, from least to most expensive. Use them to give a gift, make a purchase, or even pay a bill. It was the first time I had ever across one and I distinctly remember thinking to myself, “What is this thing and what am I supposed to do with it?”. Sure, you can cash them at the post office, but there are plenty of other locations (like faster, more convenient) options. Save my name, email, and website in this browser for the next time I comment. Once again, please refer to our article How to Get Money Orders Near Me to see where you can purchase money orders, as well as the fees and terms for each. (We’ll cover those options later.). Second, get a copy of their driver’s license or other identification – just in case the money order proves fraudulent. Required fields are marked *. Some of the major local agents that work with either Western Union or MoneyGram, to both buy and cash money orders, include the following: Many people are asking can you cash a money order at Walmart? Pay a visit to Smith’s Money Services, where you can cash a check, buy a money order, pay bills and send or pick up money. What is a money order? How Identity Theft Destroys Your Credit Score. However, Speedy Cash doesn’t have as many locations as Money Services and may not be located near you. First, accept them only from local individuals, preferably those you’re familiar with. You can purchase them using cash, credit or debit cards. They’re frequently used by people who don’t have regular bank relationships. Many will also have a minimum charge on smaller money order amounts, that could easily exceed 10%. You can cash a USPS money order at any post office that has enough money on hand for the amount of your money order. Usually, it’s best to cash a money order at the location the sender purchased it. Those that do often charge a fee, and these fees can vary widely from 50 cents to several dollars. Our Money Orders are a safe and reliable way to pay bills and send funds through the mail, and give you the convenience and freedom of a check, without the need for a checking account. COVID-19 (Coronavirus) update: Our website and app are always open. Most money orders are issued by one of two companies, Western Union or Moneygram, who, in turn, partner with scores of third party sellers across the United States. 10. Most of us know you can purchase money orders for up to $1,000 at all United States Postal Service (USPS) offices, but if you have one of these in your pocket and need to cash it, you may wonder, “Where can I cash a postal money order?”. 2. All of our content is based on objective analysis, and the opinions are our own. WARNING: Make sure the issuer of the money order includes your name and address on the document exactly as it appears on your ID documentation. 7 Eleven convenience stores have nearly 8,500 locations in the U.S. Check cashing services specialize in providing banking-type services for those who do not have regular bank relationships. Several grocery stores and big box stores will cash money orders for a fee. Check cashing stores usually cash money orders, but often for a high fee. Terms and conditions apply. Nearly all banks and credit unions will cash money orders for FREE as long as you are one of their customers. They can be used to make payments when cash, checks, or debit or credit cards are either unavailable or undesirable. Find locations. But in case you didn’t read that first article, let’s start with a brief review of the topic of money orders. For example, if you’re paid by a Western Union money order, you should cash it at a Western Union agent. To save you time and hassle, we’ve compiled a list of 25 popular stores that many expect to be able to cash money orders, but unfortunately, do not. Be careful, however, as many stores that sell money orders don’t cash them. But there are times when sending or receiving a money order can be a preferred method of payment. MoneyGram works similar to Western Union. And, on … 2. Whatever institution you go to cash the money order, be sure to bring proper identification. Further, make sure they cash the type of money order you have. The List. Money orders are negotiable instruments, similar to checks. While many 7 Eleven stores sell money orders, the prices vary. Safeway and Publix are two examples. To find out how much a check cashing store near you charges to cash money orders, your best bet is to just give them a call. Also, money orders generally cannot be used to make online purchases. You do this by simply signing your name on the back. They’re not as popular as they once were, and they’re rarely used by the majority of people. Your email address will not be published. Cost: $0.99 Company Used: Western Union Maximum Amount Allowed per Money Order: $500 Payment Allowed: Cash, debit card. can you rent a car with cash or money orders? At USPS you can also cash money orders, but rules and regulations, as well as fees, differ by location – so check to see what they are in your local post office. Now that you understand the basics of money orders, let’s take a look at the list of 27 places near you that could turn that money order you’re holding into cash! And once again, the banks on this list only refuse to cash money orders to non-customers. That’s good news for you if you’ve just received a money order, because as long as the money order is legitimate, it’s about as close as you can come to actually receiving cash. We have secure and reliable money transfer locations all over the world. Visit a post office for more information. Many of these retailers will only cash either Western Union or MoneyGram money orders, depending on who they have partnerships with. What are Money Orders and How Do They Work? Wait to add your signature to the back of the money order until you’re ready to hand it over to the cashier. Find out more about us; Watch our video tutorial. There’s a long list of companies that sell them, but the list of those that cash them is much shorter. Each week, we’ll send you money tips to guide you on the path to financial freedom. Think of a money order as a pre-paid check. A money order is like a check, but the funds are prepaid. They work with Western Union money orders. It is possible to deposit it into a standard checking account at a bank, where it is typically treated the same as cash. These risks make money orders more attractive in some situations. Note that you can sort the table using the arrows at the top of each column. Once deposited, the funds will be available for online payments and later withdrawals. Review our full list of where to cash a money order in the section below. Where You Might Be Able to Cash a Money Order. And sometimes just asking for ID can short-circuit a fraud situation before it happens. Unless otherwise indicated, the use of third party trademarks herein does not imply or indicate any relationship, sponsorship, or endorsement between Good Financial Cents® and the owners of those trademarks. Further, the sum of a money order is paid in advance, so it wont bounce as a personal check might. But don’t sign until you’re at the institution that will cash it, as some require witnessing your signature for validation purposes. According to the fee schedule of US Post Office, you’ll pay $1.25 to cash a money order of up to $500, and $1.70 for one up to $1,000. That will naturally apply to each money order you present, if you’ve been paid in multiple money orders. The bank or credit union may not request ID information, since (in theory) they know who you are. Cash can get lost in the mail or stolen. In our first article on money orders, How to Get Money Orders Near Me, we covered how and where to get them. According to the fee schedule of US Post Office, you’ll pay $1.25 to cash a money order of up to $500, and $1.70 for one up to $1,000. When my wife and I were married, I can remember finding a $100 money order tucked inside one of our wedding cards. With Money Services you can cash a wide range of checks quickly and securely. All written content on this site is for information purposes only. You can buy Money Orders at any participating Rouses location in amounts up to $1,000.00 for a fee of 50 cents each, payable by cash or chip based debit cards. Once again, you can generally cash a money order where they’re issued. ID requirements will vary from one institution to the next. Some are even more restrictive by only cashing money orders if they were purchased in one of their stores. You can take the money order to your bank, credit union, grocery store, and some retail stores. Many of the outlets where you can purchase and cash money orders offer the service through one of these two companies. Send money now. But before making the attempt, first, call the store and verify that they do. They’re typically available for purchase at fees ranging from $1 to $5. You’ll need to check with the local store since fees and limits vary by state. You can also use transfers from a bank account if you purchase them at one where you have an account. If the money order was issued by a bank and you don't have a branch of that particular bank nearby, you still may be able to get the money order cashed at a different bank. Easy to use. Jeff is an Iraqi combat veteran and served 9 years in the Army National Guard. If you’re paid by money order, your first choice to cash it should be your bank or credit union. However, the main disadvantage of using check-cashing services is that they charge the highest fees possible. Many of these retailers will only cash either Western Union or MoneyGram money orders, depending on who they have partnerships with. You should be able to cash or deposit a money order at any bank or credit union where you have a banking relationship. There may be no fee to cash a money order issued by MoneyGram, but fees will apply to other issuers. How Much Does a Life Insurance Policy Cost. Money orders are not attached to bank accounts, so they don’t display account numbers. Grocery stores are not only a common source to purchase money orders, but you can often redeem them at one as well. The app will allow you deposit almost any type of check at any time of day and get your money instantly. Use check-cashing services only as a last resort, since the fees are ridiculously high. If you prefer to deposit a money order into a bank or credit union account, you should be able to do so the same way you would a personal check. | Privacy Policy | Disclaimer | Licenses & Disclosures. Cashing them is very similar to cashing a check, except you’ll have more options as to where to do it. What’s more, they should allow you to cash or deposit the money order free of charge. No matter where you are right now as you read this article, you are probably no more than a few miles away from one of these stores. You can also cash them at most banks and some stores. In practice, money orders are very similar to checks, with the key difference being that buyers of money orders are required to fully fund them at the time of purchase. You can also go to your bank and ask for a money order. But just as is the case of personal checks – or just about any negotiable instrument – a money order can also be fraudulent. Most businesses will require that you provide some proof of your identity. You may have similar questions. by Clint Proctor | Nov 8, 2018 | Saving Money. The same goes for post offices, banks, credit unions, MoneyGram desks, etc. Money Orders Near Me Cheap – Best Places to Get a Money Order Near Me … It’s as easy as 1, 2, 3… 1. © 2021 Good Financial Cents®. However, if the money order was issued by the US Post Office, they generally will not charge a fee to cash it. The deal: You can order an unlimited number of money orders at zero cost with Amscot.Money orders are always free and you can make use of the service 365 days a year. The name of the recipient and the name of a financial institution that issued the money order usually appears on the document, making it difficult to steal a money order. Inc.Com and Entrepreneur to learn about the four best options that are available for purchase at fees ranging $! 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