Money orders are a great way to keep your extra spending cash secure while you’re travelling abroad, and they’re easy to trade in for cash.
So, does UPS sell or cash money orders, and what do you need to know about this service? If you’d like to learn more, keep reading to see what I discovered!
Does UPS Sell or Cash Money Orders In 2023?
UPS doesn’t sell or cash money orders 2023. This is because UPS is a logistics and shipping company, and while it offers some financial services, it’s not a bank or financial institution obligated to offer money order services. Common places that sell or cash money orders are grocery stores like Walmart, banks, corner stores like Walgreens, and the post office.
If you’re looking to purchase or trade in a money order for cash, be sure to check out the rest of the article to find out the fastest and cheapest places that offer money order services!
Why Doesn’t UPS Sell or Cash Money Orders?
UPS doesn’t sell or cash money orders, predominantly because it’s not a bank or financial institution.
Most places that do offer money order services are either banks/credit unions or money transfer agents, which is an impartial, third-party institution or entity that helps transfer securities.
Some common examples of money transfer agents are supermarkets like Walmart, or convenience stores such as Walgreens.
UPS is not a money transfer agent or a bank/financial institution, so ergo has no real need to sell or cash money orders.
Another reason UPS doesn’t offer money order services is just because there isn’t any real demand for it, and if there’s no demand, there’s no profit.
Plenty of places already offer money order services, so there isn’t really a gap in the market UPS could take advantage of to turn a profit.
Finally, dealing in money orders typically requires the money transfer agent or financial institution to have access to a larger amount of cash.
This can pose security risks to employees of UPS, especially considering most UPS locations aren’t quite as secure as the Bank of America, for example.
If you’re interested in reading more about how money orders work, where you can buy them or cash them in, and more, be sure to check out this informational NerdWallet article.
What Stores Allow You to Cash Money Orders?
So, if UPS doesn’t offer money order services, where can you buy or cash a money order?
As previously mentioned, the places that cash or sell money orders are typically money transfer agents or financial institutions.
Here’s a few examples of places you can go to fulfill any of your money order needs:
- Wells Fargo
- Bank of America
- Citi Bank
- Regions Bank
- US Postal Service (i.e the post office)
- Rite Aid
If you’re looking specifically for a place to cash a money order, your best bet will always be either your personal bank or the place that issued the money order.
What Is the Cheapest Place to Get a Money Order?
Out of all the places above that sell money orders, what places are the best for your budget?
How much a money order costs will vary depending on your location, the institution you’re at, and whether or not you may be a member of the institution you’re at.
For example, Kroger offers money order services on a regular basis, and those money orders cost $0.88 without a Kroger card, and $0.84 with a Kroger card.
Walgreens is another great example of how prices can vary: some Walgreens stores offer money orders for $0.65 in some places, while some charge up to $1 for a money order.
Here are some places you can usually go to get a money order for less than $1:
- Publix: $0.89
- CVS: $0.99
- Kroger: $0.84- $0.88
- Meijer: $0.65
- Walgreens: $0.65- $1
- Rite Aid: $0.99
As previously mentioned, these numbers can change depending on your location or the retailer in question.
So, if you want to know for sure how much a money order will cost you, call wherever you’re planning on going first to check!
UPS does not sell or cash money orders. Some reasons UPS doesn’t offer money order services is because it’s not a financial institution, there is not much demand, and it can pose a security risk to employees.
There are plenty of other places you can go to sell or cash money orders, however, such as grocery stores, banks, convenience stores, or other money transfer agents.