A money order is one of the safest forms of paper-based money transfer, usually available in particular financial institutions such as banks and credit unions.
Today, they’re also available at your local 7-eleven store.
In this article, we’re going to discuss how to access and use money orders at 7-elevens. Along with the requirements, limits, and policies tied to using a 7-eleven money order.
Does 711 Do Money Orders?
Yes. 7-Eleven does money orders. However, they don’t do every money order. 7-Eleven only accepts Western Union or MoneyGram money orders. Because those two are the most convenient money orders and you can cash them with a credit card.
Can I Buy A Money Order With A Credit Card?
7-Eleven does accept credit cards for the purchase of money orders. But the credit card issuers would take a money order charge as a cash advance. This will lead to additional fees and payment of interest which could risk our credit score.
Can I Buy A Money Order With A Debit Card At 711?
Apart from cash, you can also buy MoneyGram and western union money orders from 7-eleven with your bank debit card.
How? After making your request to the 7-Eleven cashier, they will request that your form of payment be by card or cash.
Does 711 Cash Money Orders
7-Eleven does not cash money orders. However, you can use them to pay your bills or pay for products or services.
If you don’t want to send money orders. It may seem ideal for a 7-eleven to be able to cash orders, but it would not be safe.
Because there’s the danger of losing your money order to a thief who could cash it before reaching the recipient. The policy is to ensure their customer’s trust.
What Is The Maximum Limit Of A Money Order at 7-Eleven
According to the 7-Eleven website, the highest amount of money in one money order is $500.
Note: you can only get a higher limit on money orders from the banks or credit unions.
How Much Do Money Orders Cost At 7-Eleven?
All 7-Eleven branches in the United States charge a maximum of $1.50 for every sheet of money order. So if you wish to send money worth $2,000 with money orders, you’d have to buy just four money orders.
And a sheet of a Money Order could be $1.50 at most. It means you’ll be paying almost $5 for all the money order sheets.
Note: However, in some cases, 7-Eleven money orders now cost between 1 or 3% of the amount in the money.
How To Purchase A 7-Eleven Money Order
Here are the steps to buying money orders at 7-eleven:
Step 1: Approach The Counter
Get to the 7-Eleven counter and request money orders. They should give you either a MoneyGram or Western Union Money order. You’ll have to pay either in cash or check (of the amount you wish to purchase).
Step 2: Determine The Amount
Choose the amount of money you’d like to send to your recipients through money orders. At the 7-Eleven store, you can put up to $500 in your Money order. So if you want to send a money order of $1000, then two money orders will be required.
Step 3: Pay The Fee And Get Your Receipt.
Once you’ve made your choice, the 7-Eleven cashier will request that you pay a fee of 1 or 3% of the money you’ve put into the money order right after displaying your government ID to confirm your identity. The cashier will process your money order and give you your receipt.
Note: displaying your ID becomes essential if you send up to $1000 worth of money orders.
Step 4: Get A Postage-Paid Envelope.
It would help if you considered sending the money order(s) to the recipient. You can use the postage-paid envelope available at the 7-Eleven store, which you can send to your recipient for free.
The maximum amount of money order you can put in your envelope has a limit of $1000. So that is just two money 7-eleven money orders. You’ll need an extra envelope or more if you decide to send $1500, $2000, or above.
Step 5: Track Your Order
After buying the money orders and providing all the necessary information, the cashier will process your transaction. At this point, you should look to track your money order.
How Long Will It Take For The Money Order To Reach The Recipient?
Generally, money orders will require up to 7 business days. To which you should be able to confirm the transaction.
If you can’t confirm the transfer after 14 business days, your money order could have issues.
How Long Does It Take To Trace A Money Order (Missing Or Stolen?)
It can take up to 30 days before you can confirm if your money order is lost or stolen. If your money order transaction has issues due to theft, then finding out the preparator would take another 30 days.
Do 7 Eleven Money Order expire?
Yes, money orders expire. Money orders from 7-Eleven are valid for only one year.
It means that a signed and endorsed money order on December 1st will be invalid on December 31st of the following year.
What Are The Advantages And Disadvantages Of Money Orders?
- You don’t require your personal information – Money orders are very discrete. Because you don’t need any of your personal information to complete the transaction, this is why persons that steal money orders don’t have anything sensitive bank information to connect you with it.
- It is secured – Money orders allow you to track anybody that spends your money order. This makes money orders safer than checks or dollar bills.
- You don’t need a bank account – Your transaction will be free of any bank fee when using money orders because your account number will not be required.
- It’s great for making an international money transfer – If you’re abroad, you can always send some cash back home via 7-eleven, as they accept overseas money orders. Either from MoneyGram or Western Union.
- Low max limit – The money orders at 7-eleven have a meager maximum limit of $500. So you’ll have to buy several money orders to send a higher amount to the recipient.
- Expensive -The cost of money orders tends to be costly because the price of money orders could get high depending on the region of the 7-Eleven branch.
- Cash or check – 7-eleven usually accepts either hard cash or a check. If the situation is dire they may accept credit card payments.
- They can get lost – Sometimes money orders can get lost in transit if you don’t send them through the appropriate channels. For instance, it has a higher chance of getting lost after you’ve made a purchase online and trying to send it through the post office.
Note: your money orders would be slot safer through trusted private delivery companies like FedEx.
Money orders are one of the most widely accepted forms of payment because it’s fast and very convenient.
You can get one now at your local 7-Eleven store, which beats long journeys to the bank to make an on-the-counter payment.
Also, from what we’ve covered, you should find your way easy when doing a money order.