How Much Does Walmart Charge To Cash A Usps Money Order

Seven percent of Americans do non utilize a checking account, co-ordinate to a 2015 survey by the Federal Deposit Insurance Corporation, or FDIC. For businesses that want to reach this market segment or broaden payment options without the risk of taking personal checks, coin orders offer i manner to branch out. USPS, or postal, money orders feature built-in security features that volition help yous spot fraud while assuasive you to greenbacks the money order or eolith it in your depository financial institution business relationship.

Accepting Coin Orders

Before accepting money orders for your business, review the security features of coin orders offered by major providers, such as MoneyGram, Western Union and the USPS. Postal coin orders feature watermarks of Benjamin Franklin repeated on the left side of the lodge's confront, and a multicolored thread featuring the USPS acronym runs vertical to the right of the watermark. Other security tips include making certain the dollar corporeality is printed twice, has not been erased, and is less than $i,000 for a domestic money order. Avoid providing a good or service until you have either cashed a money society or verified it is authentic.

Cashing a Coin Lodge at the USPS

Coin orders tin can be cashed at whatsoever USPS counter, but access to the service depends on the cash available at the facility. A greenbacks drawer at a post office in a minor boondocks may not feature the reserves necessary to cash a $1,000 money gild but could process a $100 transaction. Always ask showtime before endorsing your coin guild with a signature, every bit you must sign it in front of the postal worker cashing it. Exist prepared to show a photo identification if the money order is in your name, or business organisation documents if it's addressed to your visitor. Sign with both the business name and your name and championship.

Alternating Eolith and Cashing Locations

When your primary goal is to have access to the funds provided by the money order versus actual greenbacks, consider depositing the money order in your bank business relationship. Many banks offer aforementioned-twenty-four hour period access to the funds while others require a waiting period. Your banking concern may besides require y'all to accept a business account if your money guild is made out to your business. Banks and money kiosks at retailers and grocery stores too offer money social club cashing services for either a flat or percentage fee, such as five percent of the money club'southward value.

Give Instructions to Buyers

Crafting a money order policy for buyers can help streamline the cashing and eolith process for your business concern. If you don't have a business checking business relationship, inquire buyers to address the money order to you or to yous in care of your business. A note regarding the business purpose can be left on the memo line provided on USPS money orders. Include in the policy any holding or processing time required for a money order before goods or services are provided.

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