Why Walmart Wants Id To Buy Money Order?

Cardinal takeaways

• A money order is a safe alternative to greenbacks or a personal cheque; information technology works like a cheque and so you can greenbacks it or deposit it into a bank account.

• When using cash or personal checks put you at run a risk, or they aren't accustomed for payment, you tin use a coin guild instead.

• You can utilize greenbacks or a debit card to buy money orders at the post office, Walmart, Western Union and your bank or credit union.

How exercise money orders work?

A money social club is a piece of paper that's a condom culling to cash or personal checks. Y'all specify who will receive the money gild, and both you and that person must sign it for it to exist valid, which cuts down on theft.

You also prepay for a money order , at a location such every bit a U.S. post office, Walmart or Western Union. Go on in mind that many accept a $i,000 limit, including those that you buy at banks.

How tin can I buy a coin guild?

• Accept everything you need: Be prepared with cash or a debit card, the proper name of the payee and the amount you want to send. Paying with a credit card might exist possible, but will ordinarily toll extra.

• Fill it out: In addition to the payee's proper noun, you'll need to add your name (and maybe your address) and sign the money gild. (For stride-by-step instructions, check out NerdWallet'southward guide on how to fill up out a money order .) Be careful to ensure that everything is accurate because you won't exist able to change the information later.

• Keep the receipt:  The receipt will be a carbon re-create of the coin order or a newspaper slip recording the data entered on the coin order.

• Rails your coin social club:  Your receipt volition also have a tracking number that you lot can utilise to verify that the money lodge got to the intended recipient. If any problems arise, contact the place where you bought the money guild to get help.

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Where can I get a money order? How much does a money gild cost?

Domestic money orders accept a range of costs, from nether a dollar up to around $5, depending on where you lot buy them. You'll go a improve deal at Walmart or a convenience shop or supermarket, and y'all'll typically pay more than at a depository financial institution.

Not all providers offering international money orders; some mail offices practise, but they price more, although there's a disbelieve for those purchased at military post offices. And no thing where yous buy them, information technology's safer to buy in person.

Provider	Cost
Walmart	Up to 88 cents
Money transfer agents (convenience stores, supermarkets, etc.)	Depends on the provider. For example, San Francisco-surface area Western Spousal relationship providers often accuse around $1.
U.Due south. Postal Service	Up to $500: $1.25 $501-$1000: $1.lxx Armed services money orders: 45 cents International (up to $700): $ten.25
Banks and credit unions	Depends on the financial institution. Often effectually $5.
In the market place for a provider? Here are our best ways to ship money .

What does a coin lodge cost at some of the biggest U.S. banks?

Annotation that many banks will but sell coin orders to accountholders.

Depository financial institution	Details
American Express® National Depository financial institution, Member FDIC 4.5 NerdWallet rating	Money orders non offered.
Bank of America three.5 NerdWallet rating	Coin orders not offered.
Chase iii.5 NerdWallet rating	$five for up to $1,000; free for premium accounts. Must be purchased in a branch.
Wells Fargo three.five NerdWallet rating	$5 for up to $1,000. Must be purchased in a co-operative.

+ Click here for more banks and what they charge

A smart way to monitor your money

Rail your cash, cards, and bank accounts all at the aforementioned fourth dimension.

Can I buy a money order with a credit card?

Some outlets allow you to buy a coin gild with a credit card, merely others don't, including Walmart and the U.S. Postal Service. In those cases, you'll have to use a debit carte or cash to buy a coin gild.

Even if the provider you choose does let you lot pay with a credit card, it'll be much cheaper non to. That'south because credit card issuers typically treat money orders as greenbacks advances, charging a fee based on the corporeality of the transfer — often three% to 5% — and assessing interest immediately. That interest charge per unit might be greater than the rate you'll pay on a normal purchase.

When should I utilise a money social club?

At that place are times when using cash or personal checks can put you at risk, or they aren't accepted for payment. Here are four examples of when money orders are the best payment method:

• You need to send coin securely. Unlike checks, money orders don't include your banking concern account number, and they help ensure that only the recipient can use information technology, different mailing cash.

• You don't take a checking account. Since money orders crave you to pay in advance, you don't demand a bank account and yous tin can still pay bills safely. Another option: One of NerdWallet'south best prepaid debit cards  for regular purchases.

• You lot're worried near bouncing a check. Because money orders are prepaid, they tin't be rejected for bereft funds. Another option: A certified cheque or a cashier's check, both of which guarantee payment and don't necessarily take a $1,000 limit, dissimilar many money orders. ( Read up on certified checks  and find out more well-nigh cashier's checks .)

• You're sending coin internationally. Not all money orders work abroad, only U.S. Postal service money orders can be sent to well-nigh 25 countries. Some other option: A wire transfer, if you demand the money there faster and are willing to pay more. Or check out our best ways to transport money internationally .

Where can I cash a money order?

Your best bet is to greenbacks a coin order at the same entity that issued it, whether that's a bank branch, post part or other location. Check-cashing locations, convenience stores and grocery stores can exist alternatives, but watch out for fees. Wherever you go, you'll probably need to show identification.

If you don't demand the money right away and you have a bank account, consider depositing it. Banks accept U.Due south. Postal Service money orders as they would regular checks at branches, ATMs or even on a banking app with a mobile check eolith part. Don't forget to sign the dorsum of the money order before depositing.

What practice I practise if I lost a money social club?

If you no longer have the money order or y'all made a mistake on it, you may be able to cancel it and get a replacement or refund — every bit long as the money order hasn't been cashed.

Y'all'll need to bring your receipt and the money order itself, if you have it, to the place where information technology was purchased. The issuer will probably have you fill up out some paperwork, using information from your receipt, and you'll likely pay a fee. For example, Western Union charges $15 to replace a money gild. And information technology can take a month or longer for the issuer to process your claim.

If the money club was cashed, you may still be able to get your coin back, but you'll more often than not accept to involve the law.

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Money order tracking

It's relatively elementary to observe out where a coin social club is — as long as y'all've kept your receipt. But the process varies slightly past issuer. The U.S. Postal Service, MoneyGram and Western Union allow yous to track online with information such as the serial number found on your receipt and the purchase amount. Your banking company should be able to provide you with the aforementioned information.

Without the receipt, you lot'll likely have to file a enquiry asking to find your money order's serial number, and that's expensive and time-consuming. At MoneyGram, for case, it costs $40 and can have 60 days to process.

Just be sure to track the coin order with the bodily provider — information technology might exist Western Marriage or MoneyGram even if y'all purchased it at a convenience store.

Are coin orders safe?

Money orders are typically a safe payment method, but they tin can besides be used fraudulently. To protect yourself:

• Attempt non to commutation money orders with strangers. This isn't always possible, but if you can, ask to be paid electronically or via another means.

• Watch for ruddy flags. These might include sending extra money back to someone who claims they've paid likewise much, or visual cues, such equally missing watermarks or amounts more than $i,000.

• Verify the funds. If you tin't cash the coin order at the place that issued it, call the issuer'southward official, publicly available telephone number to find out if the certificate is legitimate.

Source: https://www.nerdwallet.com/article/banking/money-orders

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