Do CVS Do Money Orders? Everything You Need to Know

Money orders are a secure and commonly used method for sending money, particularly for transactions requiring guaranteed funds. They are especially useful for individuals without access to traditional banking services or those seeking a safer alternative to cash.

Knowing where to obtain a money order is essential for convenience and efficiency. This article examines whether CVS offers money orders and provides key details about their purchase and use.

Money Order Availability at CVS

CVS, a leading retail pharmacy chain, provides money orders through a partnership with MoneyGram. Most CVS locations offer this service, making it a convenient option for customers. This aligns with CVS’s broader strategy to provide services beyond its core pharmacy operations.

Purchasing a money order at CVS is straightforward. Customers can visit the customer service desk to complete the transaction, which involves filling out a form, specifying the amount, and making a payment. With extended store hours, CVS offers greater flexibility than banks for completing financial transactions.

Payment Methods

When buying a money order at CVS, payment methods are limited to cash and debit cards. Credit cards are generally not accepted to prevent chargebacks and ensure that funds are guaranteed.

Using cash is quick and requires having the exact amount, including fees. Paying with a debit card adds security, as it requires a PIN and provides a digital record of the transaction, useful for tracking or resolving disputes.

Transaction Fees and Amount Caps

Fees for money orders at CVS vary slightly by location but are typically around $1.25, a competitive rate compared to other providers. The maximum value of a single money order at CVS is generally $500. For larger sums, multiple money orders can be purchased, though each incurs a separate fee.

Documentation Requirements

To purchase a money order at CVS, customers must present a valid ID, such as a driver’s license, state ID, or passport. This ensures compliance with financial regulations and prevents misuse. For transactions above specific thresholds, customers may also need to provide their Social Security Number (SSN) to meet IRS requirements for monitoring large cash transactions and preventing money laundering.

Refunds and Cancellations

If a money order needs to be refunded or canceled, CVS facilitates this through MoneyGram. Refunds or cancellations are only possible if the money order has not been cashed. The original receipt, containing the tracking number, is required to process these requests.

To cancel a money order, customers must complete a MoneyGram Money Order Claim Card, available online or at CVS. A non-refundable processing fee, typically around $18, applies. Processing times can take several weeks. Once a money order has been cashed, refunds are no longer possible. CVS itself does not issue refunds; all claims are handled directly by MoneyGram.

Alternative Money Order Providers

While CVS is a convenient option, other providers may offer advantages such as lower fees, higher transaction limits, or additional services. For example, the U.S. Postal Service charges around $1.45 for amounts up to $500 and $1.95 for amounts up to $1,000. USPS money orders are backed by the federal government, providing added security.

Banks and credit unions also issue money orders, often free for account holders, though they may have stricter documentation requirements and shorter operating hours. Western Union, available at many retail locations, typically offers higher transaction limits, making it a better choice for handling larger sums.