Money orders offer a straightforward method for sending funds, especially beneficial when a bank account isn’t available or preferred. For many, purchasing a money order at a local CVS is a convenient solution for sending money to loved ones or handling bill payments. But if you’re new to this, you might be wondering exactly how to navigate the process of getting and filling out a CVS money order.
This guide provides a detailed walkthrough of obtaining a money order from CVS Pharmacy, ensuring you’re well-informed and ready to complete the transaction smoothly.
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Understanding CVS Money Orders
A money order serves as a secure payment instrument, functioning similarly to a check but with a key difference: it’s prepaid. This prepayment guarantees the recipient immediate access to the funds upon cashing it, unlike personal checks which may require verification.
Money orders, particularly cash money orders, are a popular choice for transactions where bank transfers or cash are less suitable. They provide immediate fund availability and, importantly, do not necessitate a bank account for purchase. A government-issued photo ID is typically the only requirement, making them accessible to a broad audience.
CVS Pharmacies facilitate money order services through a partnership with MoneyGram, a well-known financial service provider. This collaboration allows you to conveniently obtain a money order at your neighborhood CVS, offering an alternative to traditional locations like post offices.
Alt text: Person filling out a money order form at CVS Pharmacy.
How Much Does a CVS Money Order Cost?
While CVS doesn’t publicly list the exact fee for money orders on their official website, industry sources indicate that the standard CVS money order fee is $1.25 per money order.¹ It’s always a good idea to confirm the current fee directly with your local CVS pharmacy, as prices can vary slightly by location.
For sending money internationally, it’s worth exploring alternatives like Wise. Comparing options can highlight significant savings and more efficient transfer methods for international transactions.
CVS Money Order Limits
Money orders are generally designed for smaller transactions, typically for personal remittances or bill payments. There’s usually a cap on the amount you can send per money order, often around $1,000.
However, sources suggest that CVS money orders have a lower limit, set at $500 per money order.² If your intended transaction exceeds this amount, you’ll need to purchase multiple money orders. Keep in mind that each money order incurs its own fee, which can increase the overall cost, especially for larger sums.
For example, sending $700 would require purchasing one $500 money order and another for $200. With a $1.25 fee for each, the total cost would be $702.50 ($700 + $1.25 + $1.25).
Sending Money Overseas with CVS Money Orders
MoneyGram’s policy suggests that international money transfers via CVS money orders might be possible. However, it’s crucial to first verify with the intended recipient (individual or company) regarding their policies on cashing and depositing money orders, especially those issued in a different country. Currency exchange rates and potential international processing fees should also be considered.³
So, while CVS may facilitate overseas money orders, it’s essential to conduct thorough due diligence. For a streamlined and cost-effective solution for sending money to over 80 countries, consider using Wise. Wise specializes in international transfers with transparent, low fees and real mid-market exchange rates.
Wise for Low-Cost International Transfers
Wise presents a compelling alternative for international money transfers.
Creating a Wise account is simple – you can do it online or through their mobile app, available for both iOS and Android. Wise enables you to send money to over 70 countries, utilizing the mid-market exchange rate and charging only low, transparent fees.
Wise is committed to transparency, always displaying the total cost upfront and the exact amount the recipient will receive. You can even compare Wise’s rates and fees against other providers directly within the Wise app or on their website. This ensures you always know if you’re getting the best possible deal for your specific transfer.
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Please refer to the Terms of Use applicable to your region, and for the most current pricing information, visit Wise’s Fees & Pricing page.
Step-by-Step Guide: Sending Money via CVS Money Order
Sending money using CVS money transfer services is generally quick and straightforward. Here’s a step-by-step guide:
- Locate a CVS store offering money orders: With over 9,000 CVS locations across the US,⁴ finding one should be easy. You can use the CVS store locator online to check for services offered at your nearest locations.
- Visit the Customer Service Desk: Inform the staff at the Customer Service Desk that you wish to purchase a money order.
- Complete the Money Order Form: Fill out the money order form with the required details, including the name of the payee (the person or company you are sending money to).
- Payment: Pay the money order amount plus the CVS money order fee. Payment is typically made in cash. While some CVS locations might accept debit cards, it’s best to confirm acceptable payment methods with your chosen store beforehand.
- Retain Your Receipt: Keep the receipt in a safe place. This receipt contains information needed to track or, if necessary, cancel your CVS money order.
Alt text: CVS Pharmacy store front, location for purchasing money orders.
How to Properly Fill Out a CVS Money Order
Understanding how to fill out a money order is simple. It primarily involves providing key information about both the recipient and yourself.
| Field on Money Order | Details to Provide |
|---|---|
| Recipient’s Name (Pay to or Pay to the Order Of) | Enter the full name of the individual or the exact name of the organization you are paying. Accuracy is important to ensure proper delivery of funds. |
| Your Details (From or Purchaser) | Write your full name and your complete address in this section. This identifies you as the sender of the money order. |
| Account Number or 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. This helps the recipient correctly allocate your funds. |
| Signature | Sign your name on the designated signature line, usually located at the bottom of the money order form. This validates the money order. |
After completing all sections of the CVS money order form, proceed to pay for it using cash or a debit card if accepted at that location. Always keep the receipt as proof of purchase and for tracking purposes.
Tracking and Cancelling a CVS Money Order
To track your CVS money order, visit the MoneyGram website and navigate to their money order tracking section. You will need to input the Money Order Serial number, which is printed on your purchase receipt.⁵ This online tool allows you to check the status of your money order.
If cancellation becomes necessary, MoneyGram advises attempting to cash the money order yourself, either at your bank or a check-cashing service. On the back of the money order, write “Not Used for Purpose Intended.”³
Alternatively, you can request a money order replacement through the MoneyGram website. This process involves submitting an online request and paying a processing fee. Note that replacements are only available for money orders with a minimum value of $6.00 and up.³
Processing fees for replacement vary based on the original face value of the CVS money order:³
| Money Order Value | Processing Fee |
|---|---|
| $6.00 to $49.99 USD | 50% of the original face value |
| $50.00 USD and above | $25.00 USD |
In Conclusion
Purchasing a money order at CVS Pharmacy offers a convenient way to send funds domestically for various needs, from sending money to family to paying bills. It’s a user-friendly money transfer option but is subject to certain limitations, particularly regarding transaction amounts and international transfers. Sending international money transfers can be complex and potentially costly with money orders.
For those needing to send money abroad, Wise provides a fast, transparent, and often more economical alternative.
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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 article is intended for informational purposes only and does not constitute financial, legal, or tax advice. Consult with a financial advisor for personalized guidance.
We make no warranties or guarantees, whether express or implied, regarding the accuracy, completeness, or timeliness of the information provided.
