Money orders can be a practical solution when you need to send money without relying on a bank account or prefer a safer method than cash. Walgreens, a well-known pharmacy and retail chain, offers money order services through a partnership with Western Union, making it a convenient option for many.
This guide will walk you through everything you need to know about using Walgreens money orders to send funds, whether it’s to family and friends or for bill payments. We’ll cover the costs, limits, and process, and also introduce you to alternatives like Wise, particularly beneficial for international money transfers with its transparent fees and real exchange rates.
Walgreens Money Order Services: An Overview
Yes, Walgreens provides money order services at most of its locations, thanks to their collaboration with Western Union. So, does Walgreens do money orders? Absolutely. If you’re looking for a reliable way to send money, especially smaller amounts, a Walgreens money order could be a convenient choice, particularly if you have a Walgreens store nearby.
A money order itself is a secure payment instrument, functioning similarly to a check but with a key difference: it’s prepaid. You pay the face value of the money order upfront, plus a service fee, ensuring it cannot bounce like a personal check. This prepayment feature makes money orders a trusted method for transactions where guaranteed funds are necessary.
Walgreens, by partnering with Western Union, offers a readily accessible place to purchase these money orders. This is especially useful for those who prefer in-person transactions or need to send money without using traditional banking systems. For amounts generally under $1,000, Walgreens money orders present a secure and straightforward money transfer option.
How Much Does a Walgreens Money Order Cost?
Walgreens doesn’t have a publicly advertised flat fee for money orders. The cost isn’t fixed and can vary based on factors like where you’re sending the money and the specific service options at the time of purchase.
For domestic money orders, the fee is generally a small service charge added to the face value of the money order. However, it’s crucial to be aware of potential costs, especially when considering international transfers through Western Union at Walgreens.
When sending money internationally, remember that Western Union typically profits from the currency exchange rate in addition to any service fees. This means if you’re sending US dollars to someone who will receive euros, for example, the exchange rate applied by Western Union may include a markup compared to the mid-market exchange rate.
For instance, if the actual mid-market exchange rate is 1 USD to 0.88 EUR, Western Union might offer a rate of 1 USD to 0.85 EUR. This difference, while it might seem small, adds up, especially on larger amounts, and represents an additional cost for you as it’s built into the exchange rate you receive. Always inquire about both the service fee and the exchange rate when sending money internationally via Walgreens money order to understand the total cost.
Walgreens Money Order Limits: What You Need to Know
Walgreens typically adheres to a $1,000 limit per money order. While Walgreens itself doesn’t explicitly publicize a specific money order limit, this amount is a common standard across retailers offering money order services. This limit is primarily in place as a security measure to help prevent fraud and money laundering.
If your need is to send an amount greater than $1,000, it might be possible to purchase multiple money orders to reach your desired total. However, this isn’t always practical or permitted, and purchasing multiple money orders will mean incurring fees for each one.
To get precise information on the Walgreens money order limit at your specific location and any related regulations, it’s always best to check directly with your local Walgreens store. You can ask at the customer service desk or the Western Union service point within the store.
It’s important to remember that because of these limits, and potentially higher fees, Walgreens money orders are generally more suitable for sending smaller amounts of money domestically. For larger sums or international transfers, exploring alternative services might be more efficient and cost-effective.
Sending Money Internationally with Walgreens Money Orders: Is It Possible?
Yes, you can send money to international destinations from most Walgreens locations that offer money order services. This is facilitated through their partnership with Western Union, which has a broad global network. Western Union allows you to send money to over 200 countries and territories worldwide, making it a viable option for international money transfers from Walgreens.
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However, while possible, there are several important considerations to keep in mind if you’re thinking about using a Walgreens money order for sending money overseas:
- Exchange Rates: As mentioned earlier, Western Union, and by extension Walgreens when using their money order service for international transfers, will apply their own exchange rates. These rates often include a markup, meaning you won’t get the mid-market exchange rate. This markup is a cost to consider, as it reduces the amount of money your recipient ultimately receives in their local currency.
- Difficulty in Cashing Abroad: Cashing a money order in a foreign country can sometimes be challenging. Not all banks or financial institutions overseas are familiar with or willing to cash US money orders, which could cause inconvenience or delays for your recipient.
- Higher Fees: Sending money internationally generally attracts higher fees compared to domestic transfers. When using Walgreens money orders for international transfers via Western Union, expect to pay more in fees than you would for a similar domestic transaction.
In summary, while Walgreens money orders can be used for international money transfers thanks to Western Union, it’s not always the most ideal solution. The exchange rate markups, potential difficulties in cashing, and higher fees can make it less efficient and more expensive than other alternatives designed specifically for international money transfers.
Wise – A Cost-Effective Alternative for International Transfers
If you frequently send money internationally, or are looking for a more transparent and cost-effective solution, consider Wise. Wise is designed specifically for international money transfers and offers several advantages over traditional methods like money orders, especially when sent through services like Western Union at retailers.
Wise provides:
- Mid-Market Exchange Rate: Wise uses the real mid-market exchange rate, the same rate you see on Google or Reuters. This is in contrast to services that add a markup to the exchange rate, making your transfer cheaper and more transparent.
- Low, Transparent Fees: Wise is upfront about its fees, which are typically low and clearly displayed. You’ll know exactly what you’re paying before you send any money.
- Fast and Secure Transfers: Wise facilitates quick and secure international transfers, often faster than traditional banking methods.
- Send to 160+ Countries: With Wise, you can send money to over 160 countries around the globe, offering extensive international reach.
Opening a Wise account is simple and can be done online or via the Wise app for iOS and Android. Wise provides a clear breakdown of costs and ensures your recipient receives as much of the intended amount as possible, making it a strong alternative to consider for your international money sending needs.
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Step-by-Step Guide: Sending Money with Walgreens Money Orders
Sending a money order at Walgreens is a straightforward process. Here’s a step-by-step guide:
- Visit a Walgreens Store: Go to your nearest Walgreens that offers Western Union services.
- Go to the Service Desk: Head to the Western Union counter or the customer service desk within the store.
- Request a Money Order: Inform the staff that you would like to purchase a money order.
- Fill Out the Money Order Form: You’ll be given a money order form to fill out. This will require details of the recipient and yourself.
- Pay for the Money Order: You can pay for the money order and the service fee using cash or a debit card. Credit cards are typically not accepted for money order purchases.
- Receive Your Receipt: Keep the receipt in a safe place. This receipt is crucial for tracking the money order or if you need to request a refund in the future.
- Send the Money Order: You will need to mail or deliver the money order to your recipient. Walgreens does not handle the delivery of the money order to the recipient.
For added convenience, you can initiate your transfer online through the Western Union website or app and choose the “Pay in store” option. This allows you to start the process online and then complete the payment in cash at a Walgreens location, saving time at the store.
Filling Out Your Walgreens Money Order: Essential Tips
Properly filling out your money order is crucial to ensure that your recipient receives the funds without any issues. Here’s what you need to include when filling out a Walgreens money order:
- Pay to the Order Of: Write the full name of the person or company you are sending the money to. Ensure you spell the name correctly.
- From: Include your full name and address. This is important for identification and in case the money order needs to be returned to you for any reason.
- Account Number/Memo (Optional): If you are paying a bill, include the relevant account number or a brief memo as requested by the payee.
- Purchaser’s Signature: Sign your name on the purchaser’s signature line. Do this only after you have double-checked all the other details for accuracy.
Before you finalize and sign, double-check all the information you’ve entered. Mistakes can cause delays or complications for the person trying to cash the money order. Accurate information is key to a smooth transaction.
Tracking and Cancelling Your Walgreens Money Order
Tracking a Money Order: To track the status of your Walgreens money order, you will need to use the Western Union tracking tool available on their website. You’ll need the money order number, which is printed on your receipt. You can also call Western Union’s customer service line at 1-800-999-9660 to inquire about the status.
Cancelling a Money Order: If you need to cancel a Walgreens money order, it’s generally possible if it hasn’t been cashed yet. To initiate a cancellation, you will typically need to submit a Money Order Refund Request form through the Western Union website. You will also need to provide a copy of your purchase receipt.
Be aware that there are fees associated with cancelling a money order, as outlined in the table below:
| Money order amount | Cancellation fee |
|---|---|
| Less than 5 USD | 0 USD |
| Between 5.01 USD and 99.99 USD | 5 USD |
| 100 USD and above | 15 USD |
In addition to the cancellation fee, Western Union also charges a non-refundable research request fee of 15 USD. These fees will be deducted from the refund amount if your cancellation request is successful.
Walgreens Money Order FAQs
Does Walgreens Cash Money Orders?
While Walgreens sells money orders, not all Walgreens locations cash them. Whether a specific Walgreens store cashes money orders can vary by location. It’s best to check directly with your local Walgreens to confirm if they provide this service.
If your local Walgreens does not cash money orders, you have other options. Many banks, credit unions, grocery stores, convenience stores, and dedicated check-cashing service locations also cash money orders. Keep in mind that most of these places will charge a fee for cashing a money order.
Does Walgreens Use MoneyGram or Western Union?
Walgreens partners exclusively with Western Union for its money transfer services, including money orders. Therefore, when you purchase a money order at Walgreens, it is a Western Union money order. Walgreens acts as an agent for Western Union, providing a convenient physical location to access Western Union’s money order services. It’s also possible that Walgreens may add its own service fees on top of Western Union’s fees and any exchange rate markups for international transactions.
Where is the Cheapest Place to Get a Money Order?
The United States Postal Service (USPS) is often cited as one of the cheapest places to purchase money orders. As of the latest information, USPS charges a fee of $2.35 for money orders up to $500 and $3.40 for money orders up to $1,000.
While Walgreens, through Western Union, offers convenience, the fees can accumulate, particularly for international transfers due to exchange rate markups and service charges. For sending money internationally, services like Wise often present a more economical alternative. Wise offers low fees, the real mid-market exchange rate, and higher transfer limits, all through an easy-to-use online platform, making it a competitive option for international money transfers compared to traditional money orders.
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Sources
Sources checked 10.08.2024
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