If you‘ve ever needed to send a secure payment through the mail or pay a bill with guaranteed funds, you may have used a money order. Money orders offer a safe alternative to cash and personal checks, especially for larger amounts. They are widely available for purchase at many retail locations, usually for a small fee.
As one of the largest retailers in the United States, you might assume that Target is a convenient place to buy a money order. However, that is not the case. In this article, we‘ll cover everything you need to know about Target‘s money order policy and where you can get money orders instead.
What Is a Money Order?
First, let‘s define what a money order is. A money order is a certificate issued by a government entity, bank, credit union, or other financial institution that allows the stated payee to receive a specified amount of cash on demand. It is a secure and guaranteed form of payment, much like a cashier‘s check.
Money orders are commonly used for:
- Paying bills or rent
- Sending money through the mail
- Making purchases online or by phone
- Sending funds internationally
To buy a money order, you typically need to pay the full amount plus a small issuing fee upfront with cash or a debit card. You then fill out the name of the recipient and your information as the purchaser. The recipient can then cash the money order at their bank, credit union, or another authorized location.
Does Target Sell Money Orders?
No, Target does not sell money orders at any of its stores, customer service counters, or money centers. If you visit a Target location hoping to purchase a money order, you will need to look elsewhere. Money order services are just not something that Target currently offers.
This may come as a surprise considering that many of Target‘s competitors like Walmart, Kroger, and CVS do offer money order services. So why is Target the exception?
Why Target Doesn‘t Sell Money Orders
There are a few key reasons why Target has chosen not to get into the money order business:
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Focus on retail operations: Target‘s core business model is selling consumer goods and essentials, not financial services. Adding money orders would require additional staff training, security measures, and regulatory compliance that don‘t align with its primary focus.
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Slim profit margins: Money order fees are typically quite low, often just a dollar or two per order. For a high-volume retailer like Target, processing money order transactions may not be profitable enough to justify the extra operational costs and risks involved.
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Fraud and legal concerns: Money orders can be a prime target for scammers and money laundering schemes. Retailers that sell money orders have to be vigilant about verifying customer identities, reporting suspicious transactions, and dealing with potential legal issues. Again, this is not Target‘s area of expertise.
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Shifting consumer preferences: With the rise of online banking, mobile payment apps, and peer-to-peer money transfer services, fewer consumers are relying on old-school money orders these days. Target may see the demand as too low to bother entering a shrinking market.
So while it may be frustrating that Target doesn‘t offer the convenience of money orders, it makes sense from a business perspective why they have opted out of this particular service.
Does Target Cash Money Orders?
Not only does Target not sell money orders, but it also does not cash money orders at any of its checkout lanes or money services counters. If you receive a money order as payment, you will have to go to your own bank, credit union, or an authorized check cashing location to redeem it for actual cash.
Again, this policy differs from some of Target‘s competitors like Walmart, which does cash money orders at its customer service desks. But Target simply doesn‘t process any money order transactions on either end, whether buying or cashing them.
Where Can I Get a Money Order Instead of Target?
Now that we‘ve established Target is a no-go for money orders, let‘s look at where you can buy them. The good news is you have plenty of options, with most major retailers, grocery stores, pharmacies, convenience stores, and financial institutions offering money order services.
Here is a list of some of the most popular and convenient places to buy a money order in the United States:
- Walmart
- Kroger, Albertson‘s, Publix, and other supermarket chains
- CVS, Walgreens, and Rite Aid
- 7-Eleven and other convenience stores
- United States Post Office (USPS)
- Western Union and MoneyGram
- Your local bank or credit union
Money Order Prices Compared
To help you find the best deal, here is a comparison of money order fees at some top vendors:
| Money Order Seller | Fee |
|---|---|
| Walmart | $1 for money orders up to $1,000 |
| Kroger | $0.88 for money orders up to $500 $1.88 for money orders $500-$1,000 |
| USPS | $1.45 for money orders up to $500 $1.95 for money orders $500-$1,000 |
| CVS | $1.25 for money orders up to $500 |
| 7-Eleven | Varies by store, but usually $1-$3 |
| Banks | $5-$10 depending on the bank and your account |
As you can see, retail stores like Walmart and Kroger tend to have the lowest fees, often under a dollar for money orders up to $500 or $1,000. The post office is also very affordable, with fees under $2.
Convenience stores and pharmacies like CVS and 7-Eleven charge slightly more, but are still reasonable options if you need a money order on the go. Banks and credit unions have the highest fees, but some may waive them for premium checking account customers.
Pro tip: If you buy multiple money orders per month, those small fees can add up. Consider opening a checking account at a bank or credit union that offers free money orders to frequent users.
Payment Methods for Money Orders
When you go to purchase a money order, be prepared to pay the full amount plus the fee with guaranteed funds. Most issuers will only accept cash or a PIN-based debit card to ensure they receive proper payment.
Don‘t expect to be able to use a credit card, personal check, or mobile payment app to buy a money order in most cases. The whole point of a money order is that the funds are prepaid and guaranteed, so the seller doesn‘t take on any risk of nonpayment.
How to Fill Out a Money Order Securely
Filling out a money order is fairly straightforward, but it‘s important to do it carefully and avoid making any errors that could cause problems for the recipient. Here are the key steps:
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Fill in the recipient‘s name: Write the name of the person or business you are paying on the "Pay to the Order Of" line. Be sure to spell it correctly and use their legal name.
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Write your address in the purchaser section: Most money orders have a space for you to write your full name and address as the buyer. This is important in case there are any issues with the payment.
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Fill in additional info if needed: Some money orders may also have a memo line where you can write what the payment is for, like a bill or invoice number. You may also need to sign the front of the money order as the purchaser.
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Keep your receipt: Your money order receipt is critical for tracking payment and getting a refund if any problems arise. Keep it in a safe place until you have confirmed the money order has been received and cashed.
One of the most important things to remember with money orders is to fill it out completely and accurately at the time of purchase. Don‘t leave any fields blank for the recipient to fill in later and don‘t make any mistakes when writing names or addresses.
A money order is much harder to cancel or change after it has been purchased compared to a personal check. If you mess up, you may have to pay a fee to cancel it and buy a new one. So always double check your information before handing over your cash.
Money Order Safety Tips
Money orders are very secure compared to cash and personal checks in most cases. However, scammers do sometimes try to exploit them as part of various fraud schemes. Here are some safety tips to avoid falling victim:
- Only buy money orders from authorized issuers you trust, not random individuals
- Fill in the recipient‘s name immediately so a stolen money order can‘t be cashed by someone else
- Report a lost or stolen money order to the issuer right away for a refund
- Verify the legitimacy of any money order you receive before cashing or depositing it
- Don‘t use money orders for advance payments or overpayment schemes initiated by strangers
If you ever have doubts about whether a money order you‘ve received is real or if a transaction seems fishy, contact the money order issuer directly to verify it before proceeding. Taking a few extra precautions can save you from costly fraud.
Alternatives to Money Orders
While we‘ve focused on traditional money orders in this article, they aren‘t the only way to send or receive guaranteed funds these days. Here are a few alternatives to consider:
Cashier‘s Checks
A cashier‘s check is a check issued and guaranteed by a bank, drawn on the bank‘s own funds rather than your personal account. They are commonly used for high-dollar transactions like real estate purchases.
Pros:
- Considered very secure since they are backed directly by the bank
- Can be written for larger dollar amounts than money orders
- Often seen as more "official" or prestigious than money orders
Cons:
- Typically cost $10 or more to obtain
- Require visiting a physical bank branch during business hours
- Take longer to clear than personal checks when deposited
Wire Transfers
A wire transfer is an electronic payment from one bank account to another, usually processed through a secure network like SWIFT or Fedwire.
Pros:
- Funds are transferred and cleared almost immediately
- Commonly used for international payments between banks
- Suitable for very large dollar amounts
Cons:
- Fees can be quite high, often $25-$50 or more per transfer
- Usually cannot be reversed once sent, even if there is an error
- Requires the sender to have the recipient‘s full banking details
Peer-to-Peer Payment Apps
Mobile apps like PayPal, Venmo, Cash App, and Zelle now make it easy to send money directly to other people right from your smartphone.
Pros:
- Very fast and convenient for everyday payments and splitting bills
- Many options are free for basic transfers
- Linked directly to your bank account or card
Cons:
- Usually only for smaller amounts, not suitable for big purchases
- Some apps charge a fee for instant transfers or when using a credit card
- Not as secure or guaranteed as money orders or checks
- Both sender and recipient need to have an account with the app
ACH Transfers
Automated Clearing House (ACH) transfers are a way to send money directly between U.S. bank accounts electronically. They are often used for direct deposits and bill payments.
Pros:
- Typically free or low-cost
- Convenient for recurring payments and transfers
- Suitable for larger amounts than P2P apps
Cons:
- Can take 2-3 business days to fully process
- Requires knowing the recipient‘s bank account and routing numbers
- Limited protections compared to credit card payments
Frequently Asked Questions About Target Money Orders
Let‘s wrap up by addressing some of the most common questions and misconceptions about Target‘s money order policies:
1. Can I buy a money order at Target?
No, Target does not currently sell money orders at any of its stores or online.
2. Can I cash a money order at Target?
No, Target does not cash money orders for customers. You will need to cash it at a bank or credit union where you have an account or at the original issuer.
3. Does Target have Western Union or MoneyGram services?
No, Target does not offer money transfers through Western Union, MoneyGram, or any similar third-party service.
4. What‘s the best place to get a money order?
For most people, the most convenient and affordable option will be a local supermarket, Walmart, or post office. Compare fees and check which payment methods they accept to find the best fit for your needs.
5. How much does a money order cost at Walmart?
Walmart charges just $1 for money order purchases up to $1,000, making it one of the cheapest options.
6. Are there any risks with using money orders?
When purchased from a legitimate issuer and filled out properly, money orders are very low-risk. Just be sure to keep your receipt and verify any money orders you receive before cashing them.
7. How can I send money instead of a money order?
If you don‘t need a physical money order, you could send funds electronically with your bank‘s online bill pay service, Zelle, a wire transfer, or a P2P payment app. For in-person purchases, you could also consider a cashier‘s check from your bank.
The Bottom Line
While many people associate Target with one-stop shopping for everyday needs, buying money orders unfortunately isn‘t one of the services they offer. If you need to send guaranteed funds, you‘re better off heading to your local supermarket, big box store, post office, or bank instead.
Luckily, buying a money order is still a quick and affordable process in most cases. By following the tips and recommendations outlined here, you can obtain and use money orders safely for all sorts of payment needs. Just be sure to fill them out carefully, keep your receipts, and report any issues to the issuer promptly.
And of course, don‘t forget to compare prices and fees to get the best deal possible. With a little bit of planning and smart shopping, you can send money orders without paying more than you have to – even if Target can‘t help you out directly.
