USPS money orders are a secure and reliable way to send money domestically. Unlike personal checks, they don’t bounce, and they offer a traceable method for transactions. While you can cash a money order for its exact value, understanding the costs associated with purchasing and managing them is important. This guide will explain the “price” of USPS money orders, focusing on the fees involved and how to cash them efficiently.
What is the Cost to Purchase a USPS Money Order?
The primary “price” you pay for a USPS money order isn’t a percentage of the face value, but rather a nominal fee based on the amount you wish to send. These fees are quite reasonable, making money orders an accessible service. While the fees can slightly fluctuate, they generally follow a tiered structure. For instance, you can expect to pay around $1.65 for money orders up to $500, and $2.20 for amounts between $500.01 and $1,000, which is the maximum value for a single domestic money order. This fee is the upfront cost to purchase the money order at any Post Office location.
Are There Fees to Cash a USPS Money Order?
Cashing a USPS money order is generally straightforward and free at the right locations.
Cashing at the Post Office: Your Fee-Free Option
The most direct and cost-effective way to cash a USPS money order is at a Post Office. USPS does not charge a fee to cash money orders at their locations. Simply follow these steps:
- Do not endorse the money order until you are at the Post Office counter.
- Bring a valid primary photo ID as listed on the USPS website.
- Locate a Post Office convenient for you. You can use the USPSFind a Location tool to find the nearest branch.
- Endorse the money order in front of the retail associate at the counter and present your ID.
Other Places to Cash and Potential Fees
While Post Offices offer free cashing, you can also attempt to cash USPS money orders at other locations, though fees may apply:
- Banks and Credit Unions: Many banks and credit unions will cash USPS money orders, especially if you are a customer. However, they may charge a fee for non-customers. Contact your bank or credit union to inquire about their policies.
- Retail Stores: Some retail stores, particularly those that offer money services, may cash USPS money orders. Walmart, for example, is known to cash money orders. However, these stores almost always charge a fee for this service. Fees can vary, so it’s best to check with the specific store.
- Rural Carriers: In some rural areas, if your rural carrier has sufficient cash on hand, they might be able to cash your money order. Inquire with your local postmaster about this possibility.
Fees for Replacing Lost, Stolen, or Damaged Money Orders
It’s crucial to keep your money order receipt safe, as it is required if you need to replace a lost, stolen, or damaged money order. While USPS can replace money orders, there is a processing fee for replacements.
Replacement Fee: $20.15
As of the latest information, the fee to replace a lost or stolen USPS money order is $20.15. This fee covers the cost of processing the replacement and investigating the status of the original money order.
How to Request a Replacement:
- Take your money order receipt to any Post Office location.
- Request a Money Order Inquiry from a retail associate.
- Track your inquiry online using the Money Orders Application with the information from your receipt.
- If confirmed lost or stolen, USPS will issue a replacement money order after processing.
For damaged money orders, take the damaged money order and your receipt to your local Post Office for replacement.
Checking the Status of Your Money Order
Whether you are cashing or need to replace a money order, you can easily check its status online. Visit the Money Orders Application and have the following information ready:
- Serial number
- Post Office number
- Dollar amount
This online tool helps you monitor the status and ensures the security of your transaction.
Conclusion: Understanding the Costs
The “Price Of Usps Money Order” involves not just the face value but also the purchase fees and potential replacement costs. Cashing is generally free at the Post Office, making it the most economical option. By understanding these costs and procedures, you can effectively utilize USPS money orders for your financial transactions. Remember to always keep your receipts and handle money orders securely.
