Walmart is a go-to destination for many financial services, and money orders are no exception. Whether you’re sending money to family, paying bills, or making a large payment, Walmart offers a convenient and cost-effective solution. But how does it work, and what are the best money order options available at Walmart? In this guide, we will explore everything you need to know about Walmart Money Orders from their benefits to detailed product comparisons and how to buy them. Let’s dive in!
What is a Walmart Money Order?
A Walmart Money Order is a type of prepaid financial instrument that allows individuals to send or receive funds securely, without needing a bank account. It acts much like a personal check but offers added security since it is prepaid and guaranteed to be valid up to the amount paid. Walmart partners with MoneyGram, a global leader in money transfers, to offer this service, making it one of the most accessible and affordable ways to handle payments.
Here’s a more detailed breakdown:
Key Characteristics of a Walmart Money Order:
- Prepaid Method: Unlike a check that draws money from a bank account, a money order is prepaid in full. You must provide the total amount of the money order at the time of purchase, ensuring that the funds are guaranteed to be available for the recipient.
- No Bank Account Required: One of the major benefits of a money order is that neither the sender nor the receiver needs a bank account to complete the transaction. This makes it especially useful for people who are unbanked or prefer not to use traditional banking services.
- Issued Through MoneyGram: Walmart issues its money orders through MoneyGram, which is a trusted service provider for global money transfers. This partnership ensures that the transaction is reliable and can be tracked if necessary.
- Maximum Limit of $1,000: Each money order has a maximum limit of $1,000. If you need to send more than this amount, you would have to purchase multiple money orders.
- Low Cost: Walmart offers one of the lowest fees for money orders, typically around $0.70 to $1 depending on the store location. This low-cost service is especially appealing for individuals needing to make multiple transactions.
- Can Be Used for Various Payments: A Walmart Money Order can be used for a variety of purposes, including:
- Paying rent or utility bills
- Sending money to friends or family
- Making purchases where checks are not accepted
- Depositing into accounts when traditional bank transfers aren’t possible
- Tracking and Security: Every money order issued at Walmart includes a unique identification number that can be used to track its progress. This means that if it gets lost or stolen, you can trace its path and even stop payment if necessary.
How Does It Work?
- Purchase the Money Order: To buy a money order at Walmart, you visit the customer service desk or the Money Center, where you provide the total amount you want to send (up to $1,000) along with a small fee.
- Fill in Recipient Information: After purchasing, you will need to fill in the recipient’s details, similar to how you fill out a check. This ensures that only the intended recipient can cash the money order.
- Track and Keep Receipts: Once you’ve made the purchase, it’s crucial to keep the receipt for your records. The tracking number on the receipt allows you to verify whether the money order has been cashed and offers security if any issues arise.
- Cash or Deposit the Money Order: The recipient can take the money order to any Walmart, bank, or retail store that cashes money orders. Alternatively, they can deposit it into their bank account.
Why Use a Walmart Money Order?
- Convenience: With over 4,700 Walmart locations across the U.S., purchasing a money order is quick and easy. Most stores also offer extended hours, making it convenient to handle financial transactions outside regular banking hours.
- Affordability: At less than $1 per transaction, Walmart’s money order service is one of the cheapest options available compared to banks or post offices.
- Reliability: Using MoneyGram, Walmart ensures that money orders are secure and trackable. This added peace of mind makes it a reliable choice for individuals who need a safe way to send funds without risk.
Benefits of Using Walmart Money Orders
- Low Fees: Walmart’s money order fees are often among the lowest, making it an affordable option compared to other money order services. The fees typically range from $0.70 to $1, depending on the location.
- Convenient Locations: Walmart has thousands of stores across the United States, making it easy to access this service no matter where you are.
- Security: Money orders are a safer option than cash. They can be tracked, and the sender can require identification from the receiver to ensure proper delivery.
- No Bank Account Needed: You don’t need a bank account to use Walmart money orders, making it a great solution for those without traditional banking services.
- 24/7 Availability: Many Walmart stores are open 24/7, so you can get your money order whenever you need it, day or night.
By using Walmart’s money order services, you get a secure, low-cost, and accessible way to transfer funds without the need for traditional banking. This is particularly useful for people making large payments, such as rent or bills, where cash or personal checks may not be accepted.
How to Buy a Walmart Money Order
Purchasing a Walmart Money Order is a simple process, but it’s important to follow the right steps to ensure a smooth and secure transaction. Walmart uses MoneyGram for its money orders, making the process quick and accessible. Below is a step-by-step guide to help you understand exactly how to buy a money order at Walmart.
Step-by-Step Guide How to Buy A Money Order at Walmart
Step 1: Visit a Walmart Store with a Money Center or Customer Service Desk
Not all Walmart stores offer money orders, so it’s important to check if your local store has a Money Center or a Customer Service Desk. These are typically located near the entrance of the store. The Money Center handles various financial services such as money transfers, check cashing, bill payments, and of course, issuing money orders.
- Pro tip: Use Walmart’s store locator online to check if your nearby store offers money orders. Look for a location with a Money Center for quick access.
Step 2: Prepare Payment
Walmart only accepts cash or debit cards for money order purchases. Unfortunately, you cannot use a credit card or personal check to buy a money order. If you’re planning to use cash, make sure to bring enough to cover both the money order amount and the small transaction fee, which usually ranges from $0.70 to $1.
- Important: You can send up to $1,000 per money order, so if you need to send more than that, you will need to purchase multiple money orders. Also, keep in mind that some Walmart stores may have different maximum limits based on local regulations.
Step 3: Request the Money Order
When you approach the Money Center or Customer Service Desk, let the Walmart associate know you want to purchase a money order. Be ready to tell them the exact amount you want, up to the maximum limit of $1,000.
The associate will process your request and ask for your payment method (cash or debit card). They will then issue you the money order with the exact amount.
- Pro tip: It’s a good idea to know exactly who the recipient will be, as you will need to write their name on the money order.
Step 4: Fill Out the Money Order
After receiving the money order, you’ll need to complete it by filling in the recipient’s name and your details. This step is crucial for ensuring the money order goes to the right person and can be cashed securely.
Here’s what you need to fill out:
- Recipient’s Name: This should be the person or company to whom you are sending the money.
- Your Information: Some money orders may ask for your name and address as the sender. This helps in tracking the order if any issues arise.
- Important: Always fill out the recipient’s information as soon as possible after purchase. Leaving it blank increases the risk of theft, as anyone could potentially fill in their own name and cash it.
Step 5: Keep the Receipt
Walmart provides a receipt when you purchase a money order. This receipt is your proof of purchase and contains a tracking number for the money order. You will need this if the money order is lost or stolen, or if you need to track whether it has been cashed.
- Pro tip: Store your receipt in a safe place until the money order has been cashed by the recipient. The tracking number is essential if any issues arise, such as needing a refund or stopping the payment.
Step 6: Deliver the Money Order
Once you’ve completed the form and safely stored the receipt, you can send the money order to the recipient. If it’s for a bill payment, you can mail it to the appropriate address. If it’s for a friend or family member, you can either hand it to them in person or mail it directly.
Walmart does not offer mailing services for money orders, so you’ll need to use the postal service or a courier to send it.
Example Scenario: How to Buy a $500 Money Order at Walmart
Let’s say you need to send $500 to pay for a car repair bill, but the shop doesn’t accept personal checks. You decide to purchase a money order from Walmart.
- Visit a Walmart with a Money Center: You head to your nearest Walmart, which has a Money Center.
- Prepare Payment: You bring $500 in cash plus an extra dollar for the transaction fee.
- Request the Money Order: You ask for a $500 money order at the Customer Service Desk.
- Fill Out the Information: After receiving the money order, you fill out the car repair shop’s name as the recipient and your own details as the sender.
- Keep Your Receipt: You save the receipt with the tracking number for your records.
- Send the Money Order: You mail the money order to the car repair shop to settle the payment.
Top 5 Walmart Money Order Related Products
To give you more options, here are some of the top products related to Walmart Money Orders that can enhance your financial management:
1. MoneyGram ExpressPayment® Service
- Use case: Great for fast bill payments.
- Pros: Instant transfers, easy to use.
- Cons: Higher fees for express transfers.
- Price: Varies by transaction
- Features: Same-day bill pay, available in over 200 countries.
2. Western Union Money Order Service
- Use case: Best for international transactions.
- Pros: Available globally, robust tracking.
- Cons: Slightly higher fees.
- Price: $1-$5 depending on location
- Features: Available in 500,000+ locations worldwide.
3. Walmart2World Money Transfer
- Use case: Perfect for fast international transfers.
- Pros: Competitive rates, available in minutes.
- Cons: Limited to international transfers.
- Price: Starting at $4
- Features: Send money in minutes to over 200 countries.
4. PayPal Prepaid Mastercard
- Use case: Ideal for managing finances without a bank account.
- Pros: Can be used for money transfers, bill payments.
- Cons: Monthly fees apply.
- Price: $4.95/month
- Features: Reloadable prepaid card with direct deposit options.
5. Walmart MoneyCard
- Use case: Best for budgeting and online payments.
- Pros: No credit check, easy reloads.
- Cons: Monthly maintenance fees.
- Price: $5.94/month
- Features: Reloadable card with cashback rewards.
Comparison Table: Money Transfer Products at Walmart
| Product | Use Case | Pros | Cons | Price | Features |
|---|---|---|---|---|---|
| MoneyGram ExpressPayment® | Bill payments | Instant transfers | Higher fees | Varies by transaction | Same-day transfers, wide availability |
| Western Union Money Order Service | International transfers | Global network, tracking | Higher fees | $1-$5 | Global presence, strong security |
| Walmart2World Money Transfer | Fast international transfers | Competitive rates | Limited to international | Starting at $4 | Minutes to send globally |
| PayPal Prepaid Mastercard | Non-bank money management | Broad usability | Monthly fees | $4.95/month | Prepaid card, direct deposit available |
| Walmart MoneyCard | Budgeting and online payments | No credit check, cashback | Monthly fees | $5.94/month | Cashback rewards, reloadable |
Benefits of Using Walmart’s Money Transfer Services
1. Accessibility: With thousands of Walmart locations across the country, you can easily purchase a money order at your convenience. Most stores also have extended hours or are open 24/7.
2. Cost-Effective: Walmart’s low fees on money orders and transfers make it a highly affordable option, especially compared to other services that charge higher rates.
3. Security: Whether you’re transferring money domestically or internationally, services like MoneyGram and Walmart2World ensure that your money is securely sent to the recipient.
4. Trackable: Every money order comes with a receipt containing a unique tracking number, ensuring peace of mind.
FAQs About Walmart Money Orders
1. How much does a Walmart Money Order cost? Walmart charges around $0.70 to $1 per money order, but the exact fee varies by location.
2. Can I pay for a Walmart Money Order with a credit card? No, you can only use cash or a debit card to purchase a money order at Walmart.
3. Is there a limit on Walmart Money Orders? Yes, the maximum amount for a single money order is $1,000.
4. Can I track a Walmart Money Order? Absolutely! The receipt you receive will contain a unique tracking number, allowing you to follow its journey.
5. Where can I cash a Walmart Money Order? Walmart stores, banks, and certain retail stores will cash your money order for a fee.
By following these tips and using Walmart’s services, you can efficiently handle money orders with peace of mind. Whether you’re paying bills, sending money to loved ones, or handling business transactions, Walmart has a solution to suit your needs.
