You do this by simply signing your name on the back. On a practical level, money orders work much like checks. Fill out a money order and you don’t need a bank account either. And since they’re pre-funded, they can’t bounce. 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. At Western Union, each location is allowed to assign its own fees, so there are no set rates. Kroger can even load your money to a prepaid debit card if you prefer that payment method over the cash. Using money orders internationally instead of other payment methods offers several benefits.2 One of them is convenience: a bank account is not required to purchase a money order. Comparison Table. Using your bank or credit union has several advantages: The US Post Office is one of the most common places to both buy and cash money orders. 7 Eleven. Some are even more restrictive by only cashing money orders if they were purchased in one of their stores. However, Speedy Cash doesn’t have as many locations as Money Services and may not be located near you. 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. You can purchase them from thousands of different outlets across the country. You can always get a money order cashed at a branch of the bank or company that issued the money order. Money order vs. cash: Because money orders are made out to a particular person as the payee, it's difficult for a third party to steal your money. Rural carriers may cash money orders if they have enough money on hand. They’re frequently used by people who don’t have regular bank relationships. Find out the fee. You can generally figure a state-issued driver’s license, current passport, permanent resident card, or military ID will be acceptable. can you rent a car with cash or money orders? (We’ll cover those options later.). It’s also common practice for banks to only cash money orders with a balance of up to $500 for non-customers. But in case you didn’t read that first article, let’s start with a brief review of the topic of money orders. We have an advertising relationship with the companies included on this page. 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. You can also cash them at most banks and some stores. Most Walmart stores do cash MoneyGram money orders, but be sure to check with any location you plan to visit to make sure. While their prevalence makes them convenient, these are usually the most expensive places to cash a money order. 2. It’s as easy as 1, 2, 3… 1. ID requirements will vary from one institution to the next. Advance America Find out more about us; Watch our video tutorial. First, accept them only from local individuals, preferably those you’re familiar with. 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. Don’t sign the money order until you are ready to hand it over to the employee at the store or bank. 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. You can also simply choose to deposit the money into your checking account if you don’t need immediate access to the funds. Fee per money order – $7.50 ; Cash and debit card are the only acceptable methods of payment (you can’t pay with a credit card). There may be no fee to cash a money order issued by MoneyGram, but fees will apply to other issuers. 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. (You may be able to cash a money order at a bank where you don’t have an account, but they’ll likely charge you a fee.). Their fees also tend to vary by location. 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. 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. If you’re a non-bank customer, you can still cash a money order at most banks, but you will have to pay a small fee. Money Orders Near Me Cheap – Best Places to Get a Money Order Near Me … Many of these retailers will only cash either Western Union or MoneyGram money orders, depending on who they have partnerships with. Several grocery stores and big box stores will cash money orders for a fee. 2. Your email address will not be published. Also, money orders generally cannot be used to make online purchases. For those of us who have dealt with the hassle and frustration of being given a check that later bounced, the guaranteed nature of money orders is an attractive perk. This can be done the same day the money order is cashed. The same goes for post offices, banks, credit unions, MoneyGram desks, etc. Jeff is an Iraqi combat veteran and served 9 years in the Army National Guard. Terms and conditions apply. However, the main disadvantage of using check-cashing services is that they charge the highest fees possible. That makes them equivalent to certified or cashier’s checks for payment security. Your email address will not be published. They can be purchased with cash, debit card or travelers checks. ACE has been earning your trust since 1968, so you know you can count on us to help you with all your financial needs. Save my name, email, and website in this browser for the next time I comment. The bank or credit union may not request ID information, since (in theory) they know who you are. Most businesses will require that you provide some proof of your identity. Those that do often charge a fee, and these fees can vary widely from 50 cents to several dollars. However, not every location that sells money orders will also cashes them. Compare the places that cash Western Union money orders in the table below, or click each place’s name to find more details in our list. You can purchase them using cash, credit or debit cards. 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. And once again, the banks on this list only refuse to cash money orders to non-customers. Required fields are marked *. To cash large money orders, you will need to open an account or visit a different business. Money orders are negotiable instruments, similar to checks. But don’t sign until you’re at the institution that will cash it, as some require witnessing your signature for validation purposes. Contact our qualified team of customer service agents with any questions you may have about ACE Cash Express and our services. | Privacy Policy | Disclaimer | Licenses & Disclosures. What is a Money Order? 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. Additionally, they allow you to split the cash amount, buy an Amazon gift card or fund several different accounts. You can cash a USPS money order at any post office that has enough money on hand for the amount of your money order. Note that you can cash a money order at Walmart, but only if the money order was purchased at a Walmart. 7 Eleven convenience stores have nearly 8,500 locations in the U.S. You should be able to cash or deposit a money order at any bank or credit union where you have a banking relationship. If you do try to cash a money order at a check-cashing service, be prepared to pay 10% or more of the amount of the money order. They’re not as popular as they once were, and they’re rarely used by the majority of people. If you don’t have an ID, some banks will allow you to provide two forms of secondary ID. Note that you can sort the table using the arrows at the top of each column. A money order is the right solution when cash or a check won’t cut it . The likelihood is even greater if the money order is payment for an item you sold on eBay or some other online platform. Send money; Pick up cash; Track transfer; Find locations; Help; Menu. It is possible to deposit it into a standard checking account at a bank, where it is typically treated the same as cash. How Much Does a Life Insurance Policy Cost. Location: USPS; Limit: $1,000; Fee: Varies, $1.20 – $1.65 typical; Provider: USPS; Your Local Check Cashing Company. If you are wondering where can I cash a MoneyGram money order near me don’t worry. They can be purchased in denominations of up to $500 or $1,000. 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 can take the money order to your bank, credit union, grocery store, and some retail stores. It's never a good idea to mail cash, either, so money orders can be a better alternative if you need to send funds to someone who doesn't live nearby or whom you don't want to see in person. Once again, check with the local MoneyGram agent to see if there are any fees for the particular money order you want to cash. On a more practical level, be sure to cash or deposit a money order as soon as you receive it. Opinions expressed herein are solely those of AWM, unless otherwise specifically cited. You can cash a USPS money order at a Post Office for free. Cost: $0.99 Company Used: Western Union Maximum Amount Allowed per Money Order: $500 Payment Allowed: Cash, debit card. For questions about MoneyGram Money Orders please call your local ACE Cash Express Store. What is a money order? Perhaps you’ve been paid for a job with a money order or maybe you’ve been given one as a gift. When my wife and I were married, I can remember finding a $100 money order tucked inside one of our wedding cards. Each week, we’ll send you money tips to guide you on the path to financial freedom. Some locations may accept cash or a money orders using the cash qualification requirements below for customers who do not have a credit card. Where You Might Be Able to Cash a Money Order. 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?”. MoneyGram works similar to Western Union. Your bank or credit union will represent a “second pair of eyes” to review the money order for potential fraud. If there's a branch near you, that may be your best bet. Places That Cash MoneyGram Money Orders. Find a Western Union location near you and access our services wherever you are. 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. Once again, check for a MoneyGram location, then contact that location and ask if they also cash money orders. Read the full guide. These risks make money orders more attractive in some situations. One commonly asked question though is, “does Kroger cash money orders?”, and to your benefit, one major source of cashing money orders is Kroger, the largest grocery store chain in the country. There may be other grocery store chains that also cash money orders. They work with Western Union money orders. The US Post Office is one of the most common places to both buy and cash money orders. Use check-cashing services only as a last resort, since the fees are ridiculously high. Think of a money order as a pre-paid check. 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. Read on to learn about the four best options that are available for those looking to get a money order. How to cash a check with Money Services. Western Union and MoneyGram are two of the most common issuers of money orders. Since money orders are funded at purchase, the amount transferred is virtually guaranteed. Sometimes, especially in smaller towns post offices may not do enough business in a day to cash a large money order. To cash a money order, you’ll need to sign the back of the document, just as you would a check. Once again, you can generally cash a money order where they’re issued. Checks aren’t guaranteed funds and may compromise private financial information. If you’re paid by money order, your first choice to cash it should be your bank or credit union. Use them to give a gift, make a purchase, or even pay a bill. 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? But some institutions will allow you to take a small portion of the deposit – generally $200 – on the day of deposit. Bottom line on money orders near me. However, although this seems like a simple method, you must proceed with caution. Some are even more restrictive by only cashing money orders if they were purchased in one of their stores. His work is regularly featured in Forbes, Business Insider, Inc.com and Entrepreneur. There was an error submitting your subscription. Fees to cash a money order will vary by location, but you may not be required to pay a fee at a Western Union agent if the money order was provided by Western Union. On our list, we have shown these fees, but please remember that they only apply to non-customers. The next best option is to cash a money order with an agent location that works with that particular issuer. Locations: Find the nearest Amscot using the Amscot store locator. Need more details on Postal Money Orders? 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. The following places offer MoneyGram, Western Union, or check cashing services and may cash your money order; however, their services vary from one location to another. We have secure and reliable money transfer locations all over the world. Please try again. Where to Get Free Money Orders Amscot. 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. This article will give you the low-down on … And since you’re a customer, they may be able to help you resolve it. As a general rule, check-cashing services should be seen as a last resort, and only if you’re prepared to give up a substantial portion of the money order to pay the fees. Since you have an account relationship with them, they’ll give you the option to either cash or deposit the money order, and usually free of charge. Once deposited, the funds will be available for online payments and later withdrawals. Check cashing stores usually cash money orders, but often for a high fee. A money order is like a check, but the funds are prepaid. Local Banks. It’s worth noting that Rite-Aid will NOT cash money orders at this time. Further, the sum of a money order is paid in advance, so it wont bounce as a personal check might. One of the major advantages of cashing a money order at the post office is that they have locations in nearly every community across the country. Same situation with a US Post Office money order. If they work with Western Union, they probably won’t cash MoneyGram money orders. All third party trademarks, including logos and icons, referenced in this website, are the property of their respective owners. These include: driver’s licenses, passports, state IDs, or military IDs. A lot of places cash MoneyGram money orders in addition to others. Since they’re fully paid at the time of purchase, it may be hard to imagine how a money order can be fraudulent. Note: Most of these businesses do sell money orders, but will not cash them. COVID-19 (Coronavirus) update: Our website and app are always open. In our first article on money orders, How to Get Money Orders Near Me, we covered how and where to get them. They have many thousands of agent locations across the country, and will generally – but not always – cash money orders where they are available for purchase. All about money orders . Nearly all banks and credit unions will cash money orders for FREE as long as you are one of their customers. Endorse your money order. Be careful, however, as many stores that sell money orders don’t cash them. Safeway and Publix are two examples. 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. You can then deposit the money orders into your account and use the cash the way you desire. If you want to cash your money order for free, the best place, arguably, is at your local bank or credit union. They can be used to make payments when cash, checks, or debit or credit cards are either unavailable or undesirable. Find a location and get contact information on our locations page. Western Union. What are Money Orders and How Do They Work? Bring $3 if the money order is $2,000 or less and $5 if the money order is for any amount over $2,000.01 This will cover the check cashing fee. If for some reason you should want to cash your money order at a bank or credit union that you are NOT a customer of, you can usually do so, but expect to be charged a fee. It’s best to contact your local store to confirm that it cashes money orders before visiting. 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?”. And there are thousands of such issuers across the country, with probably many located in your own community. Western Union ® money orders offer a reliable, convenient alternative to cash or a check. Review our full list of where to cash a money order in the section below. Any reference in this website to third party trademarks is to identify the corresponding third party goods and/or services. If so, the following section briefly explains what money orders are and how they work. 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). Some institutions may require the payment of a small fee to cash a money order. You can also go to your bank and ask for a money order. Visit a post office for more information. Maximum money order amount: Varies by store. Whatever institution you go to cash the money order, be sure to bring proper identification. United States Post Office. Once you receive a money order, be on the lookout for any of the following: If you’re unsure of any of the above, go online and look up a copy of a money order from the issuing institution. 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. Generally, money orders can be deposited in a bank account as a form of money. Many of these retailers will only cash either Western Union or MoneyGram money orders, depending on who they have partnerships with. Cash can get lost in the mail or stolen. Ingo Money is a free app that will allow you to cash checks quickly to your bank account, prepaid card or to a PayPal account. If there are any significant variations between the one presented to you, and what you see online, it might be a fraudulent document. 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. But you will generally need to pay a small fee. 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. Money orders are cashed for the exact amount on the order. Requirements: A government-issued photo ID. Buying a money order provides a safer way to send money. Are Roth IRA Contributions Tax Deductible? The fact that the sender is so far away from you – and completely unknown to you – increases the possibility. Sure, you can cash them at the post office, but there are plenty of other locations (like faster, more convenient) options. Check cashing Take your payroll, insurance settlement, business or tax refund check to your local Smith’s Money Services where you can cash it quickly and easily thanks to instant enrollment. Find your nearest store. Some of those places include money order services, check cashing services, big banks, and retailers that you can get a money order at and also cash a money order as well. Second, get a copy of their driver’s license or other identification – just in case the money order proves fraudulent. © 2021 Good Financial Cents®. If you do, you should be able to cash the money order without paying a fee. 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. Wait to add your signature to the back of the money order until you’re ready to hand it over to the cashier. 10. Designed by Elegant Themes | Powered by WordPress, 27 Places Where You Can Cash a Money Order Near You, https://locators.bankofamerica.com/search, https://online.citi.com/US/GCL/citilocator/flow.action, http://cliffscheckcashing.com/all_stores.php, https://www.shopfamilyfare.com/store-locator, https://www.us.hsbc.com/1/2/home/customer-service/hsbc-locations/branch, https://www.moneyservices.com/find-store/, https://www.moneymart.com/StoreDetails/FindaStore, http://www.oldsecond.com/resources-services/locations/, http://www.safeway.com/ShopStores/tools/store-locator.page, https://www.speedycash.com/find-a-store/search, Find location: https://www.amscot.com/locations.aspx, Fees and limits vary by locations (some will only cash money orders that have been issued within the last 7 days), Maximum fee of $3 for money orders up to $1,000. You to cash a money order as you would a check won ’ t sign the of! And they ’ re ready to hand it over to the funds will be fully available on day! 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