Do CVS Have Money Orders? A Comprehensive Guide for 2024

Need to send money securely and conveniently? You might be wondering, ""Do CVS have money orders?"" The answer is yes! In 2024, CVS Pharmacy continues to be a readily accessible option for obtaining money orders thanks to their partnership with MoneyGram. With thousands of locations across the United States, CVS provides a practical solution for individuals who prefer not to use checks or don't have access to traditional banking services. This makes them especially useful for those who need to pay bills, secure apartment leases, or transact with individuals who don't have bank accounts. But before you head to your nearest CVS, it’s important to understand the details: the fees involved, the purchase limits, the required identification, and the overall process. We will delve into everything you need to know about purchasing a money order at CVS, ensuring a smooth and informed transaction. From understanding the costs and limitations to exploring alternative financial services offered by CVS, this guide will provide you with all the information you need to confidently utilize this service.

MoneyGram fees at CVS are similar to money order fees at Postal Service offices. Currently, the fee for a CVS money order is $1.25. If you want to purchase multiple CVS money orders, you will have to pay multiple fees. For example, if you need $1,000 in money orders, you ll buy two money orders with a $1.25 fee each.

Understanding CVS Money Orders

CVS offers money order services through their collaboration with MoneyGram. This partnership allows customers to purchase money orders at most CVS locations, providing a convenient alternative to traditional banking methods. Money orders are a safe and reliable way to send funds without exposing your bank account details.

Why Use CVS for MoneyGram Money Orders? Convenience: CVS has 9,900 locations often open evenings and weekends. One‑stop shop: Buy USPS‑backed money orders or send MoneyGram transfers under one roof. Predictable fees: Flat‑rate pricing on money orders; tiered fees on transfers.

What is a Money Order?

A money order is a prepaid payment order for a specific amount of money. It's a paper document, similar to a check, that guarantees the recipient will receive the stated amount. Because it's prepaid, it’s considered a very secure form of payment. Unlike personal checks, money orders don't require a bank account, making them accessible to a wider range of people.

Recent surveys indicate over 85% of CVS money order customers have an annual household income under $75,000. Obtaining money orders to securely pay bills and transfer funds can indicate consumers lack access to traditional checking accounts and plastic payment methods.

Why Choose a CVS Money Order?

There are several reasons why someone might choose to get a money order from CVS:

• Convenience: With over 9,900 locations nationwide, CVS is likely just around the corner. Many stores are open late or even 24/7, offering unparalleled accessibility.
• Reliability: Money orders are a secure way to send money. They are less risky than sending cash and can be tracked if lost or stolen.
• No Bank Account Required: You don't need a bank account to purchase a money order, making it ideal for those who are unbanked or underbanked. Recent surveys indicate that over 85% of CVS money order customers have an annual household income under $75,000, suggesting a reliance on these services for those with limited access to traditional banking.
• Anonymity: Money orders provide a degree of privacy, as they don’t reveal personal banking information to the recipient.

The Cost of a Money Order at CVS

One of the first things you’ll want to know is the cost associated with purchasing a money order at CVS. Understanding these fees is crucial for budgeting and comparing your options.

The Standard Fee

Currently, the fee for a CVS money order is $1.25. This is a flat fee, meaning it doesn't vary depending on the amount of the money order, as long as it's within the allowed limit.

Multiple Money Orders, Multiple Fees

Keep in mind that if you need to purchase multiple money orders, you will have to pay the $1.25 fee for each one. For instance, if you need to send $1,000, you’ll likely need to purchase two money orders (as we'll discuss, there's a limit per money order) and pay a $1.25 fee for each, totaling $2.50 in fees.

Comparing to Other Options

It's worthwhile to compare the CVS money order fee to other providers. For example, MoneyGram fees at CVS are often similar to money order fees at United States Postal Service (USPS) offices. Banks and credit unions may also offer money orders, but they may require you to be a member to access this service. Checking fees at different locations ensures you get the best deal available.

Purchasing Money Orders at CVS: A Step-by-Step Guide

Now that you know the cost, let's walk through the process of buying a money order at CVS.

Step 1: Find a CVS Store Near You

With over 9,900 locations across the United States, finding a CVS store shouldn't be difficult. You can use the CVS website or app to locate the nearest store.

Step 2: Head to the Customer Service Desk

Once you're inside the store, head to the customer service desk or the checkout counter. Tell the staff that you want to purchase a money order.

Step 3: Provide the Necessary Information

You will need to provide the following information:

• The amount of the money order: Be prepared to state the exact amount you need.
• The recipient's information: You will need the recipient's name and address. This information will be written on the money order.
• Your identification: CVS requires a valid photo ID, such as a driver’s license, state ID, or passport.

Step 4: Pay for the Money Order

CVS typically accepts cash payments for money orders. It's important to confirm this with your local store, as policies can sometimes vary.

Step 5: Receive Your Money Order and Receipt

After you pay, the CVS employee will complete the money order with the recipient's information. You will receive the money order itself, as well as a receipt. Keep the receipt in a safe place, as it will be needed to track the money order if it gets lost or stolen.

Important Considerations: Limits and Restrictions

Before you purchase a money order from CVS, be aware of the limitations and restrictions.

Maximum Amount Per Money Order

The maximum value of a single money order at CVS is generally $500. This means that if you need to send a larger sum, you'll have to purchase multiple money orders.

Example: If you need to send $940, you would need to purchase one money order for $500 and another for $440.

Daily Limits

While there are no specific published limits on the number of money orders you can buy per day, individual stores might impose restrictions based on cash availability or security concerns. The most common daily limit is $2,500.

Payment Methods

CVS usually accepts only cash for money order purchases. While some sources mention debit cards, it's safer to assume you'll need cash. The reason CVS typically prefers cash is due to the difficulty in verifying the availability of funds on a debit card at the time of purchase.

Identification Requirements

To purchase a money order at CVS, you must present a valid photo ID. Acceptable forms of identification include:

• Driver's license
• State ID
• Passport

What to Do After Purchasing a Money Order

Once you have your money order, there are a few essential steps to take.

Filling Out the Money Order

Carefully fill out the money order with the recipient's name and address. Double-check the information to ensure accuracy.

Keeping Your Receipt

Store your receipt in a safe place. It contains the money order number, which is crucial for tracking or replacing the money order if it gets lost or stolen.

Sending the Money Order

You can send the money order to the recipient via mail or hand-deliver it, depending on the situation and your preference.

What Happens If a Money Order is Lost or Stolen?

Losing a money order can be stressful, but there's a process for replacing it.

Contact MoneyGram

Contact MoneyGram, the money order provider for CVS, immediately. You will need to provide them with the money order number from your receipt.

Complete a Claim Form

You will likely need to complete a claim form and provide proof of purchase (your receipt) and identification. There may be a fee associated with replacing a lost or stolen money order.

Wait for the Investigation

MoneyGram will investigate the claim. If the money order has not been cashed, they will typically issue a replacement.

Can You Cash a Money Order at CVS?

It's important to note that, despite selling money orders, CVS does not cash money orders. As per company policy, CVS only facilitates the purchase and sending of money orders.

Where to Cash a Money Order

If you need to cash a money order, consider these options:

• Banks and Credit Unions: Most banks and credit unions will cash money orders, especially if you are a member.
• Check-Cashing Stores: These stores typically cash money orders for a fee.
• Walmart: Walmart is a popular option for cashing money orders.
• US Postal Service: You can cash USPS-issued money orders at a post office.

Alternative Financial Services at CVS

Beyond money orders, CVS provides a range of other financial services.

ATM Access

Many CVS locations have ATMs, allowing you to withdraw cash if needed.

Bill Payment Options

Some CVS stores offer bill payment services, allowing you to pay utility bills and other expenses in person.

Prepaid Debit Cards

CVS also sells prepaid debit cards, which can be a convenient alternative to traditional bank accounts.

Frequently Asked Questions (FAQs) About CVS Money Orders

Do money orders expire?

No, money orders purchased from CVS or any other issuer generally do not have an expiration date and can be cashed at any time. However, state laws might allow money order providers to charge a service fee if the money order is not cashed within a certain period, usually 1 to 3 years.

What identification do I need to buy a money order at CVS?

You need a valid photo ID, such as a driver's license, state ID, or passport, to purchase a money order at CVS.

Can I pay for a CVS money order with a credit card?

Typically, no. CVS usually only accepts cash for money order purchases. Policies can vary by location, so it's always a good idea to confirm with your local store.

What happens if I make a mistake on the money order?

If you make a mistake while filling out the money order, do not attempt to correct it yourself. Contact MoneyGram immediately for assistance. They will guide you through the process of correcting or replacing the money order.

The Verdict: Are CVS Money Orders Worth It?

For shoppers wanting a convenient, reliable way to send funds without having to open a bank account, CVS money orders can be a suitable choice. The $1.25 per order fee is competitive with other services. With over 9,900 locations across the U.S, CVS Pharmacy stores are easily accessible places to purchase money orders. Just remember the maximum amount of $500 per money order and the requirement of a valid photo ID. While they don't cash them, the accessibility and ease of purchase can make CVS a valuable option for many.