Have they sent you a Money Order? Learn how to collect a money order

doThey have sent you a money order but you’re not sure what they are or when and how you should use them? We explain it to you in this installment. In addition to that, also learn how to collect a money order.

What is a Money Order?

A money order, also known as a money order, is a payment order for a previously specified amount of money in favor of a third party. Since funds are required to be paid in advance for the amount shown on it, it is a more reliable method of payment than a personal check.

The above means that is one of the most reliable ways to send cash, especially when a paper check isn’t enough or isn’t available.

for the site of Walmart the Money order or money order is a “official document representing a specific monetary value”.

For example, you can use a money order Whether it’s putting down a security deposit on a rental, a down payment on a used car, or sending money internationally or by mail.

Also, because this payment method is secured, a recipient can transfer a money order to your bank account.

Another advantage is that they are a convenient and affordable way to send guaranteed money to any recipient of your choice.

Now, with that said, you may have wondered how to collect a money order, therefore, we have prepared a quick guide to better understand how to do it.

How to cash a money order?

Next we will show you the step by step to collect a money order successfully. Once you receive the cash, you can either deposit it in a bank account or use it for whatever you need.

Take your Money Order to the place where you will collect it

Can carry your money order to the place that suits you best, be it a bank, credit union, department store, supermarket and some retail stores.

Support your Money Order

We advise you before cashing it, wait to add your signature to the back of the Money Order until it is ready to be delivered to the cashier. That is the moment when you must sign the back of the order to support it.

Verify your identity

You should always have some identification on hand to show that you are authorized to collect the money order.

Identification can be a government-issued identity document, such as a passport, driver’s license, or military card.

Pay the service fees

Normally you must pay a small commission to collect a Money Order, although they are quite low.

In most cases the fees will be deducted from the total amount of cash you collect.

Receive your money in cash

We advise you to place your cash in a safe place before leaving the service counter.

For example, consider keeping your funds safe in your wallet, you don’t want them to be lost and remember to notify the sender that you have successfully collected the money order.

Where can you cash a money order?

There are numerous places where you can collect a money order, depending on where you live or the places you may frequent, you can choose one of the following options:

on the banks

To do so, we recommend that you collect the funds through a bank where you are a client, that is, preferably where you have an account in order to do so more expeditiously.

in a credit union

It is quite similar to a bank, you can collect a money order at credit unions if you have an account with them.

money transfer agencies

There are several places that specialize in money order, among which we mention you Western Union Y MoneyGram. They usually offer fast service with affordable rates.

Post office

Post offices safely handle money order, they are also the easiest place to perform the USPS Money Order Collections. On the other hand, you can send some packages or buy postcards while you are there.

On the website USPS.com you can see the rates for collect a money order USPS.

Grocery store

Some grocery stores allow collect a money order. You can go to the customer service desk and ask if they process them.

Check cashing location

Stores that cash checks, whether self-paid or for others, often provide money order services.

Convenience store

It is worth mentioning that not all of them offer a place for money order collectionTherefore, we advise you better to call or search the web before going to any of them.

Money Order Issuer

You can also check which entity issued the order of Por, so you can collect the money order in an agency of the same company.

small retail stores

In some cases there are retail stores that will pay a money order. You can check in advance at the customer service desk or, failing that, make a call to make sure.

Keep reading: How long does it take for the tax refund to arrive?

When to use a money order?

Money Orders are very useful for any type of occasion. Because they are guaranteed payment methods, you can send or receive them from almost anywhere in the world.

That said, here are some scenarios in which you can use a money order:

  • When you don’t have a check or checking account to make a payment.
  • In case the personal check is not accepted as a form of payment.
  • When sending money internationally.
  • You worry in case the check might bounce.
  • Cash is required for some purchases, for example during the purchase of a used car or rental security deposits.
  • Not having a bank account.
  • When making a large purchase and you do not want to have the cash available.

How to collect a Money Order – conclusion

when you send a money orderWhether it’s at a bank, credit union, money transfer location, or chain store, be sure to save your receipt for tracking purposes.

In case of loss or theft of your money order, it is important that you have your records and receipt.

In addition, you have to notify the recipient that you have sent your money order, you should also ask him to inform you when he receives it and collects it.

As for the fees, they are usually small for Money Orders, however, they can vary from one place to another, as well as the amount to be sent and if the funds are sent nationally or internationally.

In case you are not sure how to collect a money order, you can get advice from an employee at the service desk.

Remember that the money order They are a safe way to send money, especially if you don’t have a checking account or if you receive payments in the mail.

It is recommended to use this payment method due to its low commissions, even when there is variety in the amount of the same from one place to another.

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