Walgreens Money Orders: A Convenient Remittance Option for Those Without a Bank Account

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Yes, you can purchase a money order at Walgreens. This service is provided through Walgreens’ partnership with Western Union remittance. For those without a bank account, this is a secure and reliable way to send money.

In the United States, a significant portion of households still lack bank accounts. The latest data shows that approximately 4.2% of households, or about 5.6 million, are unbanked.

Therefore, services like Walgreens money orders are highly important. In fact, in 2024, approximately 13% of U.S. adults used non-bank financial services like money orders to meet their payment needs.

Key Takeaways

• Walgreens partners with Western Union to offer money order services. This provides a secure payment option for those without bank accounts.
• A money order is a secure prepaid voucher. It is safer than cash or personal checks and protects your personal information.
• You cannot purchase money orders directly at Walgreens stores. You need to buy them through Western Union agent locations using cash or a debit card.
• After purchasing a money order, be sure to keep the receipt. The receipt is critical for tracking the money order and requesting a refund.
• Money orders have amount limits and fees. You need to understand these details in advance to make the most cost-effective choice.

Understanding Money Orders and Their Benefits

Before deciding to use a Walgreens money order, you first need to understand what a money order is and why it is so useful. Simply put, a money order is like a guaranteed check that allows you to securely make payments or send money.

Money Orders: Secure Prepaid Vouchers

When you purchase a money order, you prepay the full amount. This means the recipient receives a guaranteed payment voucher, not a personal check that might bounce. Since the funds are prepaid, money orders won’t bounce like personal checks, providing recipients with quick and risk-free payment assurance.

Money orders are safer than carrying or mailing cash for several reasons:

• Guaranteed Funds: You pay for the money order upfront, so the recipient is certain to receive the funds.
• Protects Personal Information: Money orders do not display sensitive information like your bank account details, making them safer than personal checks.
• Designated Recipient: Only the individual or company you specify on the money order can cash it, significantly reducing the risk of theft.
• Trackable: If a money order is lost or stolen, you can track it or request a replacement using the receipt.

Why It’s Suitable for the Unbanked

For those without bank accounts, managing daily finances can be inconvenient. For example, paying rent or utility bills with cash is neither safe nor convenient. In such cases, money orders become an ideal solution.

Money orders are one of the most commonly used alternative financial services (AFS). Many people use these services outside traditional banking to meet their payment needs.

You don’t need a bank account to purchase a money order. Simply bring cash or a debit card to a location like Walgreens to buy one easily. This provides a reliable way to pay bills, send money to family or friends, or make other payments requiring secure vouchers. It addresses the challenges unbanked individuals face with large or remote payments.

Steps to Purchase a Walgreens Money Order

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Before heading to purchase a Walgreens money order, there’s one critical piece of information to clarify. Although Walgreens is a key partner of Western Union, offering various financial services like remittances, Walgreens stores currently do not directly sell money orders.

However, this doesn’t mean you can’t conveniently obtain a money order. You can still complete the purchase easily through Western Union’s extensive agent network. Below is a clear, step-by-step guide to walk you through the process.

Step 1: Locate a Store

Since you cannot buy directly at Walgreens stores, your first step is to find an agent location offering Western Union money order services.

You can quickly locate one by:

• Visiting the Western Union website.
• Using the “Find Locations” feature.
• Filtering for “Money Order” services in the options.

The system will display nearby locations where you can purchase money orders, such as supermarkets, convenience stores, or check-cashing services.

Step 2: Prepare Information

Preparing the necessary information in advance will make the process smoother. You need to confirm:

• Recipient’s Name or Company Name: Ensure the name is accurate and matches the recipient’s ID or company’s official name.
• Your Name and Address: As the purchaser, you need to provide this information.
• Payment Amount: The exact amount you plan to pay.

Step 3: Prepare Payment

Having the payment ready is crucial. When purchasing a money order at a Western Union agent location, you can use cash or a debit card.

Important Note: Why Can’t You Use a Credit Card? You may notice that almost all major retailers do not allow credit cards for money order purchases. This is not unique to Western Union; it applies to Walmart, USPS, and others. The primary reason is that card issuers classify money order purchases as “cash equivalent” transactions, which carry high processing fees and fraud risks. Therefore, ensure you have cash or sufficient funds on your debit card.

Step 4: Handle at the Counter

Upon arriving at the Western Union agent location, go to the service counter and inform the staff that you need to purchase a money order.

1. Fill Out the Form: The staff will provide a money order form. Fill in the recipient’s information and your personal details. Double-check to ensure there are no spelling errors.
2. Make the Payment: Pay the money order amount plus the fee (typically a few dollars) to the staff.
3. Receive the Money Order: After processing, the staff will hand you the money order and a receipt.

Step 5: Keep the Receipt

After receiving the money order, be sure to separate the money order itself from the receipt (or stub) and keep the receipt safe. This seemingly minor piece of paper is a critical document.

Why is the Receipt So Important?

• Proof of Purchase: It is the only proof that you paid for the money order.
• Fund Tracking: The receipt includes a tracking number (typically an 11-digit serial number) that you can use to check online whether the money order has been cashed.
• Security Assurance: If the money order is lost or stolen, you’ll need the receipt to request tracking, cancellation, or a refund. Without the receipt, you may lose the entire amount.

To protect your interests, the receipt records all critical information, including:

Keep the receipt in a safe place until you confirm the recipient has successfully cashed the money order.

Walgreens Money Order Fees and Limits

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Understanding the fees and amount limits associated with purchasing money orders can help you make the most cost-effective choice. While you cannot buy money orders directly at Walgreens, knowing the fee structure of its partner, Western Union, and other major providers is crucial.

Fee Structure

One major advantage of money orders is that their fees are generally low, but specific costs vary by provider and payment method. When purchasing through Western Union, note the following:

• Fees Are Variable: Western Union’s fees may change daily and depend on the destination. Even within the U.S., fees may differ from state to state.
• Payment Method Affects Cost: Using a debit card may result in higher fees than using cash.

Money-Saving Tip: Before heading out, check online or call a Western Union agent location to inquire about the day’s specific fees. Comparing fees with other providers can help you save money.

For clarity, here’s a look at the fee structures of common money order purchase locations like USPS, Walmart, and CVS.

As shown in the table, Walmart typically offers one of the most cost-effective options. In contrast, while Western Union is very convenient, its fees may be higher, especially when paying with a bank card.

Purchase Amount Limits

In addition to fees, you need to understand the purchase amount limits for money orders. For safety and regulatory reasons, most providers set a cap on the maximum amount for a single money order.

Typically, the maximum amount for a single money order is $1,000. For example, USPS and Walmart adhere to this standard. However, there are exceptions, such as CVS, where the limit for a single money order is $500.

What if you need to pay more than $1,000?

This is a common question with a simple solution: you can purchase multiple money orders. For example, if you need to pay $1,800 in rent, you can:

1. Purchase one money order for $1,000.
2. Purchase another for $800.
3. Provide both money orders to your recipient.

Note: Each money order requires a separate fee. So, purchasing two money orders means paying two fees. Be sure to factor this into your budget.

This limit is primarily to comply with anti-money laundering (AML) regulations, preventing large anonymous transactions. While purchasing multiple money orders adds a small fee, it ensures transaction safety and compliance. When planning your Walgreens money order alternatives, consider these limits and fees together.

Cashing Money Orders and Comparing Methods

After successfully purchasing and sending a money order, how does the recipient turn it into cash? Understanding the cashing process and comparing money orders with other payment methods can help you make better use of this service.

How Recipients Cash a Money Order

The process for your recipient to cash a Western Union money order is straightforward. They need to bring the money order and valid identification to one of the following locations:

• Bank
• Other retailers (e.g., grocery stores or check-cashing services)
• Directly deposit it into their bank account

Important Note: Remind your recipient that not all Western Union agent locations can cash money orders, even if it’s where the money order was purchased. Banks are typically the most reliable option.

To verify identity, the recipient must present a valid government-issued photo ID. Common acceptable IDs include:

• Driver’s license
• Passport
• State-issued ID
• Military ID

The recipient needs to sign the back of the money order in the presence of the cashier and can then receive cash or deposit the funds into an account.

Comparison with Prepaid Debit Cards

For those without bank accounts, prepaid debit cards are another common financial tool. So, how do they compare to money orders?

According to a 2021 FDIC study, about one-third (32.9%) of unbanked households use prepaid cards. They use prepaid cards to pay bills, receive income, and make daily purchases.

Prepaid cards are highly convenient for small, frequent daily transactions. However, for paying rent, utilities, or other one-time large payments, alternatives like Walgreens money orders show unique value. Money orders provide a physical payment voucher that can be safely mailed and have clear recipient restrictions, making them superior in terms of security and traceability. For scenarios requiring secure delivery of large sums, money orders remain a more reliable choice.

In summary, money orders are a secure, reliable, and cost-effective payment method, offering an effective alternative to traditional banking services.

If you don’t have a bank account, need to mail payments, ordon’t want to disclose bank information, a money order is an ideal choice. It’s especially suitable for payments like rent that don’t require urgent processing.

We hope the information in this article helps you make informed decisions based on your needs.

FAQ

Do Money Orders Expire?

Western Union money orders do not expire. However, if they remain uncashed for a long time, service fees may apply.

Typically, after one year from purchase, the issuer may start deducting a monthly fee from the money order amount. Therefore, you should remind the recipient to cash it as soon as possible.

Can I Use a Credit Card to Buy a Money Order?

No, you cannot use a credit card to purchase a money order.

This is to prevent fraud and comply with financial regulations. You need to use cash or a debit card to pay for the money order amount and fees. This is a common rule among most providers, including Western Union.

What If My Money Order Is Lost or Stolen?

If a money order is lost, you need to contact Western Union immediately. The receipt you received at purchase is critical.

You’ll need to provide the tracking number and other details from the receipt to request a refund or replacement. Without the receipt, recovering the funds will be difficult.

How Is a Money Order Different from a Cashier’s Check?

Money orders are safer than cashier’s checks. The main differences are:

• Guaranteed Funds: You prepay the full amount when purchasing a money order, so it won’t bounce.
• Anonymity: Money orders do not include your bank account information, offering better protection for your personal privacy.