Most people now consider money orders to be a reliable method of payment. At shops like CVS, money orders can help you save your time and budget. Now, first, you need to know, does CVS do money orders? Can these money orders really save your time/money and help you? So, to learn the answers, please read the article till the end!
Basically, CVS uses MoneyGram to deal with money orders. You can buy money orders from CVS and use them to buy your necessities. However, you can't cash the money orders from CVS directly.
CVS has made its payment options easier for you. If you are a regular customer at a CVS, you must understand all about CVS money orders. Basically, in this article, you will learn how to buy money orders from CVS, the price limit and fees, how to apply for these orders, and how to cash them. So, to analyse all these facts in detail, please read the entire article.
Can You Buy Money Orders From CVS?
Yes, you can easily buy money orders from any of the CVS outlets. They use MoneyGram to handle the business of money orders, which has made the transactions easier than ever!
CVS pharma is a popular drugstore in the US. There are about 10,000 CVS stores in the whole US. That is to say; you may come across a CVS store even before you reach your nearest bank! Besides, they have expanded their business to sell some food and grocery items apart from drugs now.
To make the purchases easier, CVS hands you out money orders. If you are familiar with how money orders work, you will definitely understand how much more reliable they are than cashier's checks.
How Much They Cost
Basically, CVS uses MoneyGram money orders. These orders are 500$ each, which is the highest amount you can buy from each money order. Many agencies hand out money orders worth 1000$ or above. But the limitation of CVS is that they can't allow money orders above 500$ each.
Besides, there is a tiny fee that you need to pay per money order. For every 500$, the additional cost is 1.25$. The price may seem negligible, but if you have multiple money orders from one outlet of CVS, the fee may amount to a significant number!
Why Do You Need Money Orders At CVS?
Truth be told, the most expected purpose of buying money orders from CVS is to save money. It is easy to buy medicine for a prescription you just got, some groceries, or urgent photocopies via money order. It has made purchases way too convenient!
When you have a check, there is a big chance that the check may bounce if you do not have adequate money in your account. But with money orders, they are already paid. So, there is no need to worry that your money order won't suffice to cover your expenses.
Also, it helps you avoid an extra trip to the bank or your ATM booth and enables you to reduce your gas bill. You could gradually save a lot of money by avoiding several potential bank trips. Not to mention, it will also save your valuable time!
Besides, there is a system of cash back when making debit purchases. They can offer up to $35 in cashback on each transaction. As a result, CVS has become a popular place for money orders and for performing several tasks when running one errand!
What To Do When You Need Money Orders Over 500$
Actually, when other agencies give money orders over 1000$, it is very natural for you to require money orders over 500$ at CVS. But they have set a limit on each money order as they work with MoneyGram. You can't exceed 500$ on each money order at CVS.
So, if you want money orders above 500$, simply buy multiple orders. Purchase as many as you need, as there is no limit to how many you can buy.
But there is an additional problem as the fee keeps increasing. For example, say, you bought two money orders from CVS worth 800$. For this purpose, you can buy one 500$ money order and one 300$ money order. So, even though you haven't reached 500$ on your second money order, you still have to pay an additional 1.25$.
Ultimately, your total fee amounts to 2.5$. And it can keep increasing if you have multiple money orders, and the cost may exceed seven or eight dollars. So, you may be charged a significant fee additionally for a large money order.
Nevertheless, this fee is relatively high compared to other places. For example, Walmart stores charge only 70-80 cents for each money order. Also, the maximum limit here is up to 1000$ per money order.
However, an additional 1.25$ on every 500$ money order at CVS may seem almost negligible for many customers. But for some, it may be a significant burden.
Finding Your Nearest CVS For Buying Money Orders
As mentioned earlier, there are about 10,000 CVS outlets throughout the USA. If you look up their website, there is a locator to find your nearest CVS. It will use your current location to track as many CVS as possible near you.
Besides, you can also check on Google Maps. They can also show you the times when the CVS stores are open. Most CVS stores are open from 8 a.m. to 10 p.m. But some stores can give you 24-hour service. It is better to check beforehand. So, you can go during their working hours to buy your money order.
What To Do If Your CVS Money Order Gets Stolen?
Actually, it is a widespread issue that your money order may get lost or stolen. Luckily, CVS has a policy on what you can do at that time. You can check the website of MoneyGram to track your money order and even cancel it there if it gets lost.
Best of all, you can apply for a replacement by cancelling the previous order. You can also track the progress of your new replacement money order. However, it takes almost 18$ to make an online replacement request. And the fee is non-refundable.
Suppose you asked for mailed requests. Then, the fee increases to 25$, which is also non-refundable. Besides, it may take up to 20 business days for them to process your request. You can call the Hotline of MoneyGram.
Do CVS Money Orders Expire?
No, CVS money orders from MoneyGram do not expire. But an additional charge adds up after a year if you have left the money order unused for that long.
Basically, you have to pay a tiny fee if you have not cashed your money order for a year. It adds up gradually. So, the safest option is to cash your money orders within a year. In this way, you do not have to pay extra charges.
How To Buy Money Orders From CVS?
Actually, buying money orders from CVS is very easy. As these are prepaid, pay first, fill out the required information, sign it, and then keep the receipt for future reference.
Basically, you need to pay for the money order first. There are some authorised payment options for money orders at CVS. You can pay with options that have guaranteed payment. Use debit cards or cash. However, some retailers may not allow using debit cards.
Besides, you can't use credit cards, traveler's checks, gift cards, e-cards, etc., to pay for money orders; because these methods of payment cannot ensure that you have a sufficient amount of money in your account to pay for the money order.
Next, fill in the necessary information fields on the form. There are two separate sections: the payee's section and the recipient's section. The date and amount are already printed on the money order. So, fill in the legal details of the payee and the recipient. Here, the information you provide is unchangeable.
Then, you need to fill in your legal details on the "From" or "Remitter" or "Sender" or "Purchaser" section. Also, you will need to fill in your mailing details.
The purchaser signs at the front of the money order; that is where you need to sign. You can even add a note about why you are purchasing the order. The recipient will sign at the back of the paper. Ensure everything is alright, and then send it out.
Most importantly, don't forget to keep the receipt. It acts as a shred of evidence and helps you track your money order. Besides, if you want to cancel and refund, you must show the receipt. Otherwise, all your money will go in vain!
Can You Cash Money Orders From CVS?
No, you can't cash the money orders from CVS. In fact, what you really need is to go to the nearest bank and cash your money order there. Unfortunately, CVS doesn't have this kind of service.
For this purpose, you can go to some credit unions too. But it is better to go to your bank as you won't be charged extra. Besides, the money will be directly deposited into your account. Some banks may charge new customers additionally.
Moreover, do not forget to bring legal identification data when you cash a money order. For example, you can get a photo ID.
You can also cash it at check-cashing stores. But this will amount to a higher fee than usual. So, this is a bit expensive.
To be fair, CVS has all sorts of facilities for money orders as they work in union with MoneyGram. But the feature of cashing money orders is not yet available at their outlets. It is better and safer to do it at your bank.
CVS is a reliable place to buy money orders. And to be fair, this is the place where you will frequently require money orders. The money order service here have made the purchases relatively easier. You pay for the order and then use it for as long as it can serve! It is easy, accessible, and a great way to pay!
So, if anyone asks you now does CVS do money orders, you know the answer exactly! Thank you for reading the entire article with patience. Have a great day!