Walmart has gone a long way since first opening its doors in 1962. Over the last 5 decades, Walmart has built a solid reputation in retail. The company has stayed true to its purpose of offering the best value for money products and services for its customers.
Since then, Walmart has diversified into other businesses such as home furnishings, car insurance, groceries, and electrical goods. Today, there are more than 11,000 Walmart stores spread out in the United States and in select international locations.
And Walmart is not stopping. The company has not sat on its laurels. The latest addition to Walmart’s growing line of products and services is the availability of the Money Order.
Let’s find out how Walmart’s Money Order works!
Table of Contents
- 1 Money Order – What Is It And Why You Should Consider It
- 2 How Does A Money Order Versus Credit Card Or Cash?
- 3 Here are 3 other reasons why a Money Order is a better option than cash:
- 4 How To Purchase A Walmart Money Order
- 5 Here’s a step-by-step guide on how to get your Walmart Money Order:
- 6 What Do You Need To Avail Of A Walmart Money Order?
- 7 When Should You Use A Walmart Money Order?
- 8 How To Use Walmart Money Order To Send Money To Another Country
- 9 Can You Trace & Track A Money Order?
- 10 How To Cash Your Walmart Money Order
Money Order – What Is It And Why You Should Consider It
If you’re a Baby Boomer or a member of Generation x, you can probably skip this section. Chances are, you are familiar with Money Order and perhaps, even transacted with it.
Millennials and members of Generation Z will just Google the definition but may remain unclear on what a Money Order is and how it can be a good payment option.
A Money Order functions as a check because it is a document made of paper used as a form of payment. Many businesses prefer a Money Order to a check payment because it is guaranteed by the issuer.
If a credit card is not accepted as a form of payment, the vendor may prefer a Money Order. The Money Order will only be released by the issuer once you have paid for it with cash or some other type of guaranteed funds.
By paying for the Money Order with cash, its issuer will be confident enough to guarantee or back up the availability of the funds to the seller, supplier or vendor.
How Does A Money Order Versus Credit Card Or Cash?
We briefly touched on the advantage of using Money Order over a check – the funds are guaranteed. This means the seller can be assured of receiving payment.
Here are 4 other advantages of using a Money Order over check payment:
- Lower risk of a Money Order bouncing or being insufficiently funded.
- If your Money Order was stolen or misplaced, simply contact the issuer and have it canceled.
- You don’t have to open a bank account.
- If you don’t have a bank account, then will you have no fear of your personal information getting stolen.
Some establishments may say “Cash is King” but it can tedious and risky to carry around. A Money Order will be safer and more convenient to have on your person compared to cash.
Here are 3 other reasons why a Money Order is a better option than cash:
- No need for an ATM – fewer processing and transaction fees.
- Whenever you pay with Money Order, you will receive a receipt to document the transaction.
- If your cash gets lost or stolen, that’s it for your money. However, if you lose your money order, all you have to do is to inform the issuer about the situation.
How To Purchase A Walmart Money Order
Are you certain that you want to try out Walmart’s Money Order option? If so, head on to a Walmart closest to you.
If you want to purchase a Walmart Money Order, you can go to the Customer Service Desk in all of the company’s neighborhood markets and Supercenters.
Here’s a step-by-step guide on how to get your Walmart Money Order:
- Visit your local Walmart store. Don’t forget to bring an ID.
- Fill out the complete details in the Money Order form. Use black ink and write legibly.
- Wait for a receipt to be handed out to you.
Don’t be afraid to ask for assistance if the instructions on the form are not clear to you.
If you some reason, you decided not to push through with the Money Order, simply cancel it by presenting the original O.R to the customer service department.
And if you lost your Money Order or if it got stolen, report it right away to MoneyGram.
What Do You Need To Avail Of A Walmart Money Order?
The most important thing to present to Walmart’s customer service desk is proof that you can pay for the Money Order. You don’t have to bring cold, hard, cash. You can simply show a debit card and a government-issued ID.
You may have to pay a fee in the amount of 88 cents if your total purchase exceeds $1,000
Using your Walmart Money Order is no different from issuing a check as a form of payment. You just have to fill out the form in its entirety, complete the necessary details before sending it out via mail or by hand.
When Should You Use A Walmart Money Order?
A Money Order can be requested if the usual forms of payment are not accepted for one reason or the other.
Here are a few scenarios where a Money Order is the preferred payment option:
- Rental Payments If you are asked to show proof that you have paid rent, a Money Order is the best option. Walmart will cover every Money Order purchase with an official receipt with complete details to show the landlord you did not miss last month’s payment.
- Monitor Your Spending – A payment for a Money Order can be debited from your card. This is an easy and convenient way to monitor your spending and to make sure you don’t exceed the limit of your debit card.
- Online Payment – If you are shopping online, don’t be surprised if some online merchants prefer a guaranteed form of payment such as a Money Order. You can expect a request for a Money Order from sellers of expensive items.
- Sending Payment Via Mail – A Money Order is paid out to the name of its recipient. If the Money Order lands in someone else’s hands, there is nothing he can do about it. Plus, if you lost it, simply contact Walmart and have it canceled.
How To Use Walmart Money Order To Send Money To Another Country
Are you planning to send money via Money Order to a person who lives in another country?
The first thing you have to do is to instruct the recipient to find out from his bank what their deposit and cashing policies are. You have to make sure there is no issue with cashing payment out.
You may also want to consider the foreign exchange rate at the time the Money Order would be transmitted to the recipient.
Can You Trace & Track A Money Order?
If you’re concerned that the Money Order may not have been received by its recipient, you have nothing to worry about.
Walmart uses an online tracking tool that monitors the whereabouts of the Money Order. It will stay on top of the Money Order from the time it’s bought to the moment it’s been cashed.
Just make sure you have the order number and amount of the Money Order in mind or stored somewhere for quick access.
How To Cash Your Walmart Money Order
Other than your nearest Walmart store, you can also go to your local bank to cash your Walmart Money Order.
Please keep in mind that Walmart only cashes Money Orders issued by the company.
Also bear in mind that cashing Walmart Money Orders entails fees and charges. Money Orders up to $1,000 will carry a $3 charge while those exceeding $1,000 will be charged $6.
You can cash the Money Order or have it credited to your Walmart Money Card. It is important to bring a valid ID with your picture on it.