Where Can You Buy a Money Order?
Money orders are available at the U.S. Postal Service, banks, credit unions, grocery stores, convenience stores like 7-Eleven, and retailers like Walmart and CVS. USPS money orders cost $1.75 to $2.40 depending on the amount. Retail locations typically charge under $2. Each money order has a maximum face value of $1,000, so larger payments require multiple money orders.
How Do You Fill Out a Money Order?
Write the recipient's name on the "Pay to" line, fill in your name and address in the purchaser section, and sign the front. Keep the receipt — it serves as your proof of purchase and includes a tracking number in case the money order is lost. Do not sign the back, as that area is for the recipient's endorsement when they cash it.
When Should You Use a Money Order Instead of Other Payment Methods?
Money orders are useful when you do not have a bank account, when a personal check is not accepted, when you want to avoid sharing your bank account information, or when mailing a payment and you want more security than cash. They are commonly used for rent payments, utility bills, and purchasing from classified ads.
Frequently asked questions
Can you cancel or refund a money order?
Yes, if it has not been cashed. You will need the receipt and must fill out a cancellation request form. The issuer charges a processing fee, and refunds can take weeks. USPS money orders require filing Form 6401 for replacements.
Do money orders expire?
Money orders do not expire in the traditional sense, but some issuers begin deducting service charges after one to three years of inactivity, reducing the value. It is best to cash or deposit them promptly.