Finding a place to buy money orders is harder than it used to be, and some places seriously overcharge. Find the top places to get a money order near you below.
Checks and bank transfers are all well and good – but I think it’s time to give money orders some credit.
Yup, buying a money order may seem a little prehistoric – but I’m convinced they are still one of the best ways to pay someone. I’ll explain why that is further down in the post.
So, if you’re asking yourself the following questions – why would anyone want to use a money order, where can I get a money order near me and, most importantly, where can I get the best deal – read on.
The answers are in this post!
The information I’ve outlined below will help you make a smart, informed choice about where to buy money orders – and help you spend less.
WHAT IS A MONEY ORDER?
A money order is similar to a check, in that it’s essentially a document used for making payments (although there are some key differences).
The biggest difference between a check a money order is that money orders are prepaid. While you probably have blank checks in a drawer somewhere (or in your wallet, if you’re old school like that), a money order will only be issued after you’ve handed over actual funds.
The buyer will need to pay both for the cost of producing the money order (the fee charged), as well as its issued amount.
That can be done in cash, by debit card, traveler’s checks, or by using another form of guaranteed funds.
WHY USE A MONEY ORDER?
Now if you haven’t used money orders, and are wondering why someone would want to use them – here’s why:
- Privacy. Imagine you’re paying a person or company you don’t entirely trust and don’t want to share your personal information. How would you make sure the payment reaches them without you sharing any personal info? While checks will include that kind of information, money orders don’t – so your privacy is protected.
- Guaranteed Funds. Since money orders are prepaid, you won’t have to worry about bouncing a check – sufficient funds are guaranteed.
- Theft Protection. Money orders are also an excellent and safe way to send money to your friends or family. It is even safe to mail a money order! Since you will be specifying the name of the recipient on the money order, it would be nearly impossible to steal your money.
- Safety. What if you don’t have a checking account yet but want to pay for a larger purchase? Carrying a suitcase stuffed with cash isn’t a smart idea. Using a money order, on the other hand, is.
- Timely. Finally, you can transfer your money order in time.
HOW TO GET A MONEY ORDER
Only a few places actually produce money orders, but many more places sell them. The two most well-known companies that produce money orders are Money Gram and Western Union.
However, here’s something I’ve learned from experience – not all companies that sell money orders are equally good.
Before you rush to get a money order near you, it’s worth knowing a little bit more about the types of companies that sell them – and how much you can expect to pay. While some won’t charge you much for a money order – others may seriously overcharge, making you spend more money than you should.
Lucky for you, I’m here to list the ones you should consider using!
BEST PLACES TO GET A MONEY ORDER NEAR ME
Here are the 11 best places to get a money order:
- Postal Service
- Your Local Check Cashing Company
- Your Local Bank
- Your Local Credit Union