Money orders offer a straightforward way to send funds, especially if you prefer not to use a traditional bank account. They’re a popular choice for various transactions, from sending money to loved ones to managing bill payments.
CVS, a ubiquitous pharmacy chain, provides this convenient service. But if you’re wondering, “Does Cvs Do Money Orders?”, and how to navigate the process, you’re in the right place.
This guide will walk you through everything you need to know about getting a money order at CVS Pharmacy, making the process quick and hassle-free.
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Understanding CVS Money Orders
A money order is essentially a prepaid form of payment, functioning similarly to a check but with guaranteed funds. Unlike personal checks, which draw on your bank account balance, money orders are purchased upfront, ensuring the recipient can confidently cash them.
For those who prefer not to use bank transfers or handle large sums of cash, money orders are a reliable solution for payments and sending money.
Key advantages of money orders include immediate fund availability and the accessibility of purchasing them without a bank account. A government-issued photo ID is typically the only requirement, making them a convenient option for a broad range of individuals.
CVS partners with MoneyGram, a well-known financial service provider, to offer money orders. This partnership means you can conveniently obtain a money order at your local CVS pharmacy, potentially saving you a trip to a post office or other money order locations.
What’s the Cost of a CVS Money Order?
While CVS doesn’t publicly list their money order fees on their website, industry sources indicate that the CVS money order fee is generally $1.25 per money order.¹
For the most accurate and up-to-date information on CVS money order costs, especially at your specific location, it’s always recommended to contact your local CVS pharmacy directly. Fees can occasionally vary by location, so a quick call can confirm the exact cost.
CVS Money Order Limits: What You Need to Know
Money orders are generally intended for smaller transactions, making them suitable for personal remittances to family and friends or routine bill payments. There are typically limits on the amount you can send per money order.
According to various reports, CVS money orders have a limit of $500 per money order.² If your transaction exceeds this amount, you’ll need to purchase multiple money orders. It’s important to factor in that each money order incurs its own fee, so using several money orders can increase the overall cost.
For example, if you need to send $700, you would need to buy one money order for the maximum $500 and another for $200. With a $1.25 fee per money order, your total cost would be $702.50 ($700 + $1.25 + $1.25).
Sending Money Overseas with CVS Money Orders: Is It Possible?
MoneyGram’s policies suggest that international money transfers using CVS money orders might be possible. However, it’s crucial to verify this directly with the recipient or the company you are sending money to beforehand. Confirm their specific policies regarding cashing and depositing money orders, as well as any currency exchange considerations.³
So, to answer directly: Can you send money overseas with CVS money orders? Potentially, yes, but with caveats. Due diligence is key to ensure the recipient can actually receive the funds without issues. For a streamlined and often more cost-effective solution for international money transfers to over 80 countries, consider exploring services like Wise.
Wise: A Smart Alternative for International Transfers
If you frequently send money internationally, Wise offers a compelling alternative.
Opening a Wise account, either online or through their mobile app (available for iOS and Android), allows you to send money to over 70 countries. Wise utilizes the mid-market exchange rate and charges low, transparent fees.
Wise distinguishes itself by always showing you the total cost upfront and the exact amount the recipient will receive. You can even compare Wise’s rates against other providers directly within their app or website, ensuring you always get the best deal. Transparency and cost-effectiveness are core to Wise’s service.
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Step-by-Step: How to Send Money Using a CVS Money Order
Sending a money order at CVS is generally a quick process, often taking just a few minutes. Here’s a simple guide:
- Locate a CVS Store: Use the CVS store locator to find a location near you that offers money orders. With over 9,000 CVS locations across the US,⁴ finding one should be convenient.
- Visit the Customer Service Desk: Head to the customer service desk within the CVS store and inform the staff that you wish to purchase a money order.
- Complete the Money Order Form: Fill out the money order form provided by the CVS staff. This will require details of the recipient.
- Payment: Pay the money order amount plus the CVS money order fee. Payment is typically in cash. While some CVS locations might accept debit cards for money order purchases, cash is the most universally accepted payment method. It’s advisable to confirm payment options beforehand if you intend to use a debit card.
- Retain Your Receipt: Keep the receipt provided. This receipt is crucial for tracking the money order or if you need to cancel it later.
Filling Out a CVS Money Order: Key Information
If you’re unsure how to fill out a money order, it’s quite straightforward. You’ll need to provide some basic information about both yourself and the recipient.
| Field | Details |
|---|---|
| Recipient’s Name | In the “Pay to” or “Pay to the Order Of” field, clearly write the full name of the individual or the exact name of the organization you are sending the money to. Accuracy is important here to avoid any issues with cashing. |
| Your Details | In the “From” or “Purchaser” section, write your full name and your current address. This is important for identification and in case the money order needs to be returned for any reason. |
| Account/Memo | If you are using the money order to pay a bill, include your account number associated with that bill or a brief memo with any necessary details to ensure your payment is correctly identified and processed by the recipient. This could be an invoice number or customer ID. |
| Signature | Sign your name on the designated signature line, usually at the bottom of the money order form. This validates the money order. |
After completing the CVS money order form, finalize your purchase by paying with cash (or debit card, if accepted at that location). Securely store your receipt as proof of purchase and for tracking purposes.
Tracking and Cancelling a CVS Money Order
To track your CVS money order, you’ll need to visit the MoneyGram website and utilize their money order status checker. You will need the Money Order Serial number, which is printed on your receipt.⁵
If cancellation is necessary, MoneyGram advises attempting to cash the money order at your bank or a check-cashing store first. Write “Not Used for Purpose Intended” on the back of the money order.³
Alternatively, you can request a money order replacement through the MoneyGram website. This involves submitting an online request and paying a processing fee. Replacements are only possible for money orders with a minimum value of $6.00 and up.³
Processing fees for replacements vary depending on the original value of the CVS money order:³
| Money Order Value | Processing Fee |
|---|---|
| $6.00 – $49.99 USD | 50% of the face value |
| $50.00 USD and above | $25.00 USD flat fee |
In Conclusion: CVS Money Orders for Easy Transactions
CVS provides a convenient and accessible option for obtaining money orders, suitable for domestic money transfers, paying bills, and sending funds to individuals. They are particularly useful for those who prefer cash transactions or do not have bank accounts. However, it’s important to be aware of the limitations, such as the $500 limit per money order and potential challenges with international transfers.
For international money transfers, especially if you seek lower fees, better exchange rates, and a more streamlined process, consider exploring alternatives like Wise.
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Sources:
Sources checked on 07.19.2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is intended for general informational purposes and does not constitute financial, legal, or tax advice from Wise Payments Limited or its affiliates. It is not a substitute for professional financial advice. We make no warranties or guarantees regarding the accuracy, completeness, or timeliness of the information provided.
