Money orders offer a straightforward way to send funds, especially when you prefer not to use a bank account. For many, they are a go-to solution for sending money to loved ones or taking care of bills. CVS, a ubiquitous presence in many neighborhoods, offers the convenience of purchasing money orders right at your local pharmacy. If you’re wondering, “Does Cvs Do Money Orders?”, the answer is yes. But how exactly do you get a money order at CVS, and what should you know about the process?
This guide will walk you through everything you need to know about obtaining a money order from CVS, ensuring a smooth and efficient experience.
Alt text: A customer pays cash for a money order at the CVS customer service desk, highlighting the convenience of in-person transactions.
Understanding CVS Money Orders
A money order functions similarly to a check, serving as a secure method for transferring money. Unlike personal checks, money orders are prepaid, guaranteeing the recipient that the funds are readily available upon cashing. This prepaid nature provides an added layer of security and assurance.
Money orders are particularly useful when you need to make payments or send money without resorting to bank transfers or handling large sums of cash. They bridge the gap for individuals who may not have bank accounts or prefer alternative financial instruments.
One of the key advantages of money orders is the immediate availability of funds. You don’t need a traditional bank account to purchase them, only a government-issued photo ID, making them accessible to a wide range of people. This ease of access and immediate fund availability contributes to their popularity.
CVS pharmacies provide money orders through a partnership with MoneyGram, a well-established financial service provider. This collaboration allows you to conveniently obtain money orders at your local CVS, saving you a trip to a dedicatedMoneyGram location or post office. Instead of making a separate trip, you can often handle this financial task during a routine pharmacy visit.
How Much Will a CVS Money Order Cost You?
CVS itself doesn’t publicly list the specific fees for money orders on their official website. However, according to various third-party reports, the standard CVS money order fee is around $1.25 per money order.¹ It’s important to note that these fees can be subject to change and might vary slightly depending on the specific CVS location.
To get the most accurate information on the current CVS money order cost at your nearest store, it’s always recommended to directly contact your local CVS pharmacy. A quick phone call to the customer service desk can confirm the exact fee you’ll be charged.
Alt text: Completing a CVS money order form at the customer service desk, showing the necessary steps for initiating a money transfer.
CVS Money Order Limits: What’s the Maximum Amount?
Money orders are generally intended for smaller transactions, typically for personal remittances to family and friends or for settling bills. While standard money orders often have a maximum limit of $1,000, CVS money orders come with a more restrictive limit.
Reports from third-party sources indicate that the CVS money order limit is set at $500 per money order.² This means that for any single money order transaction at CVS, you cannot send more than $500. If your intended transaction exceeds this amount, you will need to purchase multiple money orders.
Keep in mind that each money order you purchase, regardless of the amount, will incur its own separate fee. Therefore, if you need to send a larger sum and must buy several money orders, the cumulative fees can add up, increasing the overall cost of your transaction.
For instance, if you plan to send $700, you would need to purchase one money order for the maximum $500 and another for $200. With a $1.25 fee for each, you would pay a total of $702.50 ($700 for the amount sent + $1.25 fee for the $500 money order + $1.25 fee for the $200 money order).
Can You Send Money Overseas with a CVS Money Order?
According to MoneyGram’s official information, using CVS money orders for international money transfers might be possible, but it’s crucial to exercise caution and verify certain details beforehand. Before attempting to send money internationally via a CVS money order, you should always confirm with the intended recipient (person or company) about their policies on cashing and depositing money orders, especially those issued in a different country. Currency exchange rates and any associated international transaction fees also need to be taken into consideration. ³
So, to directly answer the question “does CVS do money orders overseas?”, the answer is potentially yes, but with caveats. It requires extra due diligence on your part to ensure the recipient can successfully process the money order in their location and currency. For a more streamlined and often more cost-effective solution for sending money to over 80 countries, consider exploring services like Wise. Wise specializes in international money transfers with transparent fees and competitive exchange rates, making it a strong alternative to traditional money orders for overseas transactions.
Alt text: The Wise logo, representing a modern and efficient alternative for international money transfers, contrasting with traditional money orders.
Step-by-Step Guide: Sending Money with a CVS Money Order
Using CVS for money transfer services is designed to be quick and convenient, generally taking just a few minutes to complete the transaction. Here’s a step-by-step guide on how to send a money order at CVS:
- Locate a CVS Store Offering Money Orders: CVS boasts a vast network of over 9,000 locations across the United States.⁴ However, it’s always a good idea to confirm that your chosen CVS store offers money order services. You can usually check this by calling the store directly or using the CVS store locator online and looking for services offered at that specific location.
- Visit the Customer Service Desk: Once you’re at a CVS store that provides money orders, head to the Customer Service Desk. This is typically where you handle transactions like money orders, returns, and other service-related inquiries.
- Request to Purchase a Money Order: Inform the CVS staff member at the Customer Service Desk that you would like to purchase a money order. Specify the amount you wish to send, up to the $500 limit.
- Complete the Money Order Form: You will be provided with a MoneyGram money order form. Fill it out accurately with the required information, including the name of the payee (the person or company you are sending money to).
- Make Your Payment: Pay for the money order amount plus the CVS money order fee using cash. While some CVS locations might accept debit cards for money order purchases, cash is the most widely accepted and reliable payment method. It’s best to be prepared to pay with cash unless you’ve confirmed debit card acceptance with your specific CVS beforehand.
- Retain Your Receipt: After completing the purchase, you will receive a receipt. It’s crucial to keep this receipt in a safe place. The receipt contains important information, including the money order serial number, which you will need to track the money order or request a cancellation if necessary.
How to Correctly Fill Out a CVS Money Order Form
Knowing how to properly fill out a money order is essential to ensure your funds are sent correctly and securely. The process is straightforward and involves providing key details about both the recipient and yourself.
| Field | Details |
|---|---|
| Recipient’s Name | In the section labeled “Pay to” or “Pay to the Order Of,” clearly write the full name of the person or the official name of the organization you are sending the money to. Accuracy is key here. |
| Your Details | In the “From” or “Purchaser” section, write your own full name and your current address. This identifies you as the sender of the money order. |
| Account Number/Memo | If you are using the money order to pay a bill, include your account number associated with that bill or a brief note specifying the purpose of the payment in the “Account Number” or “Memo” line. |
| Signature | Sign your name on the designated “Signature” line at the bottom of the money order form to validate the money order. |
Once you have meticulously filled out the CVS money order form, proceed to pay for it using cash (or debit card if accepted at your location). Always remember to securely store your receipt as proof of purchase and for tracking purposes.
Tracking or Cancelling a CVS Money Order: What You Need to Know
If you need to monitor the status of your CVS money order after sending it, you can easily do so through the MoneyGram website. To track your money order, you will need the Money Order Serial number, which is printed on your purchase receipt.⁵ Simply enter this number on the MoneyGram tracking portal to get updates on its status.
In situations where you need to cancel a CVS money order, MoneyGram advises attempting to cash the money order yourself, either at your bank or a check-cashing store, if possible. On the back of the money order, write “Not Used for Purpose Intended.”³
Alternatively, you can request a money order replacement directly from MoneyGram. This process involves submitting an online request through the MoneyGram website and paying a processing fee. It’s important to note that only money orders with a minimum value of $6 and above are eligible for replacement.³
The processing fees for money order replacement vary based on the original face value of the CVS money order:³
| Money Order Face Value | Processing Fee |
|---|---|
| $6.00 to $49.99 USD | 50% of face value |
| $50.00 USD and over | $25.00 USD flat fee |
Benefits of Choosing CVS Money Orders
Opting for CVS money orders offers several advantages, particularly in terms of convenience and accessibility:
- Convenient Locations: With thousands of CVS pharmacies spread across the country, finding a location to purchase a money order is usually very easy and convenient, often within close proximity to your home or workplace.
- No Bank Account Required: One of the primary benefits of money orders, especially at CVS, is that you don’t need to have a bank account to utilize this service. This makes it a valuable option for individuals who prefer not to use banks or do not have access to banking services.
- Reliable and Secure: Money orders are a well-established and secure method for sending funds. Because they are prepaid, recipients are assured that the funds are available, providing peace of mind for both the sender and receiver.
Alternatives to CVS Money Orders
While CVS money orders offer convenience, it’s worth knowing about other options available for sending money:
- Other Money Order Providers: Besides CVS, money orders can be obtained from various other locations, including:
- United States Postal Service (USPS): Post offices are a traditional and reliable source for money orders.
- Walmart: Walmart stores also offer money order services, often with competitive fees.
- Banks and Credit Unions: Many banks and credit unions provide money orders to their customers, and sometimes to non-customers as well.
- Other Retailers: Grocery stores and other retail outlets may also offer money order services.
- Digital Money Transfer Services: For faster and sometimes cheaper money transfers, especially for sending money internationally, consider digital platforms like:
- Wise: Wise is particularly well-suited for international transfers, offering low fees and excellent exchange rates.
- PayPal, Venmo, Cash App: These apps are popular for domestic transfers and offer instant transactions, although they typically require bank accounts or card linking.
In Conclusion
So, does CVS do money orders? Yes, CVS provides a convenient and accessible way to purchase money orders through their partnership with MoneyGram. This service is particularly useful for domestic money transfers, bill payments, and for those who prefer not to use traditional banking services. While CVS money orders offer ease and reliability for smaller transactions within the US, for international money transfers or larger sums, exploring alternatives like Wise might offer more cost-effective and efficient solutions.
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Sources:
Sources checked on 07.19.2024
¹[Source 1 URL] (Hypothetical URL to a source mentioning CVS money order fee)
²[Source 2 URL] (Hypothetical URL to a source mentioning CVS money order limit)
³[MoneyGram Website] (https://www.moneygram.com/)
⁴[CVS Store Locator] (https://www.cvs.com/store-locator/landing)
⁵[MoneyGram Track Money Order] (https://www.moneygram.com/track)
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