Why Doesn’t Target Sell Money Orders? Top Alternatives

Money orders are a popular source of making worldwide payments. You can easily buy them from major retailers in the country, such as Walmart, Kroger, and Safeway.

But what if you want to buy them from Target? Does Target sell money orders? Keep reading to find out!

Does Target sell Money Orders

Does Target Sell Money Orders in 2023?

No, Target does not sell cash money orders in 2023. However, you can visit other big stores like Walmart, 711, Safeway, Kroger, and Publix to get Money Order.

For example, money orders are easily available at stores like Walmart, Kroger, and Safeway. They will cost you somewhere between $1 and $5.

You can pay for the money order either through cash or a debit card. That’s because these stores do not accept credit cards for payment.

Not only this, but the stores mentioned above also offer cash money orders. So, if you want to cash your money order, you can also head to these stores.

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How Do Money Orders Work?

A money order works in two ways. You can either use it to send payment to someone else or receive it as payment.

If you want to make a payment with the help of a money order, you will have to buy one. You can buy money orders through supermarkets, convenience stores, credit unions, banks, and US post offices.

Suppose you pay for the amount of money order, and then you get a cheque from a third party. You can use this cheque to send or give to someone else.

The person who now has the money order will exchange it for cash or deposit the money in their bank account. 

However, do not forget to take your proof of identity while cashing your money order. Otherwise, you will not get the money.

What is the Point of a Money Order?

You can use a money order to pay something with cash with the help of a cheque from a third party. 

While some people think there is no room for money orders in today’s world, this is not the case. It serves many purposes nowadays; therefore, it is justified to choose it over other forms of payment.

For example, a money order will provide you access to other payment options if you do not have a checking account.

Moreover, a money order is also an extremely secure option that you can send through mail. 

That’s because there is a chance of stealing in cash, and personal cheques have your bank account numbers. As a result, your security might be compromised.

Can I Cash My Own Money Order?

Yes, you can cash your own money order. However, you will have to endorse it to yourself first by signing your name on the back of the money order.

In addition, you will also need to carry proof of identification to cash your money order. Otherwise, you will not get any money.

However, if you do not have any identification, you can also endorse the money order to someone else who is with you.

For example, you can endorse it to your siblings, spouse, or friends. But make sure that they have their proof of identification with them.

Otherwise, there is no point in endorsing the money order to these people. 

How Do You Pay with Money Orders?

Paying with a money order is extremely easy these days. Here is how you can do it.

  • First, you need to decide the amount you want to send. You have the option to send up to $1,000 in one money order.
  • Next, you should go to the store that sells money orders or any post office location.
  • You must take cash, traveler’s cheque, or debit card for payment. That’s because it is not allowed to pay with a credit card for a money order.
  • Fill out the details on the money order form at the counter.
  • Now, you need to pay the value of the money order plus the fees.
  • Make sure that you keep the receipt safe so that you can track your money order.

What are the Disadvantages of Money Orders?

Disadvantages of Money Order

Just like every coin has 2 sides, money order also has some disadvantages. Let’s take a look at some of these disadvantages below.

  • Money orders are known as snail mail. This means mailing money orders through the postal system requires weeks and months. As a result, it creates inefficiency.
  • We all know that mail can get lost in the postal system. So, this implies money orders too. In this case, you will have to buy another money order and e-mail it to the recipient.
  • If the money order is lost in the mail, you will have to issue an order to stop its payment. While this is easy to do, you will have to pay a fee.
  • There is also a chance that thieves forge your money order. For example, a thief might forge a money order and issue it under your name. As a result, you might be questioned for suspected fraud.
  • If the money order is sent to you, the bank might hold your account until they clear the money order. This can take 2 to 3 business days, and you cannot access your account during this period.

How Do You Pay for Money Orders?

You can pay for money orders through cash, traveler’s cheque, or debit card

You cannot pay for a money order via a credit card. That’s because you need to pay upfront for money orders. As a result, most issuers do not accept credit cards as a form of payment.

Even if some issuers accept credit cards for the payment of money orders, they treat them like cash advances. So, they will charge you a much higher fee than other forms of payment.

Therefore, you must always carry a cash or debit card while paying for money orders.

How Do You Cancel a Money Order?

You can cancel a money order that has not been cashed by contacting the issuer and providing the money order details. 

In addition to this, you also need to submit a cancelation form along with a copy of the receipt and pay some fees.

The cancellation fee for different money orders is different. For example, MoneyGram charges $18 for the cancelation of the Money Order.

Other than that, the cancelation fee at Western Union is $15 if you have the receipt with you. If you do not have the receipt, you will have to pay $30 to cancel the money order.

Can You Track a Money Order Online?

Yes, you can track the status of your money order online. But there is a fee for it. On the other hand, some issuers also let you track the money order online for free.

For example, USPS has a convenient online tracking method that you can use to track your money order.

All you need to do is enter the serial number on your receipt, and you will be able to see the status of your money order.

Final Thoughts:

While Target may not be your go-to retailer for money orders, numerous other outlets, such as Walmart, Safeway, and Kroger, step up to fill this gap.

Money orders offer a vital lifeline to those who may lack traditional banking resources and seek a reliable and secure method to transfer funds.

Despite the potential for delays and minor fees, the peace of mind that comes with the traceability and security of money orders may outweigh these drawbacks.

Remember to always weigh the pros and cons in any financial decision you make – every penny counts.

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