Money orders have been around for years. They are a convenient and quick way to make a payment.
But you can’t get a money order just anywhere. Which got us wondering, can you get a money order at Walmart? We looking into it and this is what we found….
Does Walmart Do Money Orders?
Walmart does issue money orders as just one of their offered financial services to customers. You can get a money order in-store from the Walmart customer service desk or from the Walmart Money Services Centre.
This article looks at Walmart money orders: what they are, why they’re useful, and how you can get one.
What is a Walmart Money Order?
A Walmart money order is a bank certificate or prepaid check. It isn’t a form of credit – when you buy one, you pay cash upfront for the entire amount of the money order plus a small fee.
You will then need to fill in the money order with the transaction details.
The agency or corporation providing the money order will then “back” up the amount of your money order (similar to the way a bank backs up a check payment), to ensure that the receiver gets the due amount.
Because you have already exchanged cash for the money order, the money order is seen by some as a more secure form of payment.
You also don’t need to worry about anyone stealing and using it because to cash one in, you need to present a government ID.
Can I Buy A Money Order With A Credit Card At Walmart?
Credit cards are not accepted as payment for a money order at Walmart.
If you need to purchase a money order, you need to do it with cash or a debit card, and once you have your Walmart money order, it is as good as cash. This is why it’s important to fill out the money order immediately and correctly as soon as you get it.
The reason that credit cards are not useful for purchasing money orders is because issuers (i.e. Walmart) prefer to have the money in hand before they issue the money order.
Does Walmart Cash Money Orders?
Walmart will cash money orders but only money orders that they have themselves issued, in other words, MoneyGram money orders.
The fee to cash money orders (and checks) of $1,000 or less is a maximum of $4; for larger amounts, it is a maximum of $8. You can get the amount in cash or loaded onto a Walmart MoneyCard. These cost $1 to purchase initially, but there is no fee to reload subsequent amounts.
What’s The Advantage Of A Money Order?
A money order is cheap and easy to get – especially when all you have to do is head down to your local Walmart.
Money orders are generally viewed as more secure than checks because they are paid in advance and therefore cannot bounce. They are also issued with numbers so they can be traced. This means more people are happier to accept them.
If you money order is lost or stolen, you can cancel the order to stop the funds from being released. You can then reissue the amount (so long as you still have the stub containing the required information).
Money orders represent transactions that are a little more private, and they are super convenient because you don’t need a bank account to get one.
Money orders are much cheaper than checks. The exact amount to purchase one differs at each Walmart store but is usually no more than a dollar, which is a very reasonable fee.
If you don’t end up using or issuing your money order, you can return it (with your receipt) and they’ll issue a refund. The money order needs to be undamaged and unaltered.
How Do I Get A Money Order From Walmart?
The Walmart customer services desk or money services centre will help you purchase a money order. All you need is the money you wish to send (and the fee) and a government photo ID if the money order is for a large amount.
$1000 is the maximum allowed for a single money order at Walmart, so if you need more than this you’ll have to purchase more than one order.
Make sure to fill out the details of whoever is receiving the money order correctly. Spelling is important. The money order will be checked against the recipients ID when they cash it, and recipients will always be asked for this ID.
You’ll be issued with a receipt at the end of the transaction, and it’s important that you store this carefully.
If there are problems with your money order, it’s the receipt number you’ll be asked for at the MoneyGram customer service.
Money orders are an easy and convenient alternative to digital payments and a safer alternative to cash and check payments.
They are also inexpensive compared to other forms of money transactions, and able to be returned if you don’t need them after all.
Just remember to fill out the details immediately and correctly and file the receipt safely.