How Much Are Postal Money Orders?
Your complete guide to understanding and utilizing postal money orders for secure and straightforward transactions.
A postal money order offers a secure way to send money or make payments without needing a bank account or carrying cash. It functions similarly to a prepaid check, making it a reliable option for various transactions. Money orders are widely accepted and do not expire, ensuring the funds remain available to the recipient.
Understanding Postal Money Order Costs
The cost of a United States Postal Service (USPS) money order depends on the amount of money being sent. For domestic money orders ranging from $0.01 to $500.00, the fee is $1.45. If the amount is between $500.01 and the maximum limit of $1,000.00, the fee increases to $1.95.
A single domestic postal money order cannot exceed $1,000.00. If a payment requires more, multiple money orders must be purchased. Each incurs its own separate fee. For example, sending $1,500 would necessitate two money orders, each with its applicable fee.
Steps to Acquire a Postal Money Order
Postal money orders are exclusively available for purchase at U.S. Post Office locations. Some rural carriers and contract stations may also offer them, so it is advisable to confirm availability. When purchasing, the buyer should bring the exact amount of the money order desired and the recipient’s full name.
Accepted forms of payment include cash or a debit card; credit cards are generally not accepted. The postal clerk typically fills out the money order’s amount and sometimes the recipient’s name at the time of purchase.
Purchasers must keep the customer receipt provided at the time of transaction. This receipt contains important details like the money order’s serial number and the Post Office number. This information is essential for tracking the money order or for initiating an inquiry in case of loss or theft.
Sending and Cashing a Postal Money Order
After acquiring a postal money order, the sender should complete any remaining fields, such as their address and a memo line for the payment’s purpose. Sending the money order through certified mail can provide proof of delivery, adding another layer of security for the transaction.
The sender can use the information on their purchase receipt to track the money order’s status. The USPS offers an online tool where the serial number, Post Office number, and issued amount can be entered to check if it has been cashed. This allows the sender to confirm successful receipt and payment.
Recipients can cash a postal money order at any U.S. Post Office location free of charge. Many banks and credit unions also cash postal money orders, though some may require the recipient to have an account with them. To cash a money order, the recipient must present a valid form of identification, such as a driver’s license.
Recipients must endorse the money order by signing the back, usually in the presence of the teller or postal employee. If a money order is lost, stolen, or damaged, the purchaser can initiate an inquiry by completing PS Form 6401 at any Post Office facility and paying a processing fee. The original purchase receipt is necessary for this inquiry process, as it contains the unique identifying numbers.