If you‘ve recently been the recipient of a Western Union money order, you may be wondering where you can go to cash it and access your funds. Many people immediately think of Walmart, the ubiquitous retail chain that seems to offer every product and service under the sun. But does Walmart actually cash Western Union money orders?
As a retail and consumer expert and a picky shopper, I‘ve done the research to bring you a definitive answer, as well as all the details you need to know about cashing money orders and accessing financial services at Walmart. Let‘s start with the basics.
What Is a Western Union Money Order?
A money order is a secure payment instrument that functions similarly to a check. The key difference is that a money order is prepaid by the sender. So the funds are guaranteed, as long as the money order is legitimate. This makes money orders a popular choice for payments to individuals and businesses when the sender doesn‘t want to use cash or a personal check.
Western Union is one of the most well-known and widely used money order issuers. Founded in 1851, Western Union originally provided telegram and wire transfer services. Today, they offer money orders and money transfers to thousands of locations around the globe.
According to the Federal Reserve, money orders make up about 2% of non-cash payments in America. While this pales in comparison to debit card, credit card, and ACH transfer volumes, it still represents a significant amount of money movement. In 2020 alone, there were 650 million money order payments worth $165 billion.
Does Walmart Cash Western Union Money Orders?
Now for the million-dollar question: Can you cash a Western Union money order at Walmart? The short answer is no, unfortunately Walmart does not currently cash Western Union money orders.
Walmart has a long-standing partnership with MoneyGram, a major Western Union competitor, for money transfers and money order services. Because of this exclusive relationship, Walmart only cashes MoneyGram money orders purchased at Walmart locations. No third-party money orders, including those from Western Union, are accepted.
A Walmart spokesperson had this to say: "To provide our customers with the best value and service, we have chosen to partner solely with MoneyGram for money orders and transfers. By focusing our efforts, we are able to offer highly competitive fees and a seamless experience at our MoneyCenters nationwide."
While this exclusivity may be disappointing for customers hoping for a quick one-stop-shop, the good news is you still have plenty of options for cashing your Western Union money order.
Where Can I Cash a Western Union Money Order?
Just because you can‘t cash a Western Union money order at Walmart doesn‘t mean you‘re out of luck. Here are the most common places that will cash these money orders for you:
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Banks and credit unions: Nearly all banks and credit unions will cash money orders upon request. If you have an account at the institution, the service is often free. Non-members typically have to pay a nominal fee, around $5-10 or a small percentage of the amount.
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Check cashing stores: As the name suggests, these businesses specialize in cashing checks, but most will also accept money orders, including Western Union. Expect higher fees than banks though, often a percentage of the face value.
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Grocery stores: Many major grocery chains have money service counters or customer service desks that can cash a variety of payment instruments, including money orders. Stores like Kroger, Safeway, Publix, H-E-B, and more offer this service for around $3-6 per money order.
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Convenience stores and gas stations: Some convenience store chains have begun offering basic money services. For example, 7-Eleven charges from $3-5 to cash money orders at select locations.
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The U.S. Postal Service: If you have a U.S. Postal Service money order, you can cash it for free at any post office location nationwide, as long as it‘s under $500. Western Union money orders can also be cashed at USPS locations for a small fee.
Of course, fees and availability can vary, so it‘s always wise to call ahead to your preferred location to verify that they will definitely be able to cash your money order and what you can expect to pay.
Walmart Money Order Alternatives
While Walmart may not be able to cash your Western Union money order, don‘t write off the retail giant for money services entirely. Walmart offers a robust set of affordable financial services and products at its MoneyCenter locations. Here‘s an overview:
Walmart2Walmart money transfers: This service allows you to quickly and easily send money between Walmart locations in the U.S. and Puerto Rico. Funds can be sent and picked up at any store, often within minutes. Fees start at $4 for transfers under $50 and go up to $16 for amounts over $1000.
Walmart money orders: In partnership with MoneyGram, Walmart customers can purchase money orders for amounts up to $1,000. The fees are highly competitive, with a flat rate of $.88 per money order, regardless of the amount. You can then cash these money orders at any Walmart location for no additional fee.
Check cashing: Walmart will cash pre-printed checks, including payroll, tax refund, government, and insurance settlement checks. For checks under $1000, the fee is $4. For checks between $1000-5000, you‘ll pay $8. Two-party personal checks have a $6 max fee with a $200 daily limit.
Bill payment services: Walmart‘s MoneyCenter serves as a bill payment hub, allowing you to pay a wide variety of monthly expenses in one place, such as utilities, phone service, credit cards, rent, and more. The cost is just $1 per bill paid.
Prepaid debit cards: For customers looking for an alternative to a traditional bank account, Walmart offers prepaid Visa MoneyCards. These cards let you load funds in store or via direct deposit, then use the card anywhere Visa is accepted. There are no overdraft fees and no credit check required. The monthly maintenance fee is waived when you load $1,000 or more per month.
Clearly, Walmart has positioned itself as a major player in the financial services arena. Industry analysts estimate that Walmart processes around 1% of the total volume of money orders annually in the U.S. And with over 4,700 locations in the U.S. including 3,000 MoneyCenters, they have an incredibly vast footprint to provide these services to the masses.
How to Cash a MoneyGram Money Order at Walmart
Now that you know the types of money services available at Walmart, let‘s walk through the steps for successfully cashing a MoneyGram money order at the store:
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Locate the Walmart MoneyCenter at your nearest store, usually situated at the front near the customer service desk. Use the online store finder to search for locations offering money services.
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Bring a valid, government-issued photo ID like a driver‘s license, state ID card, passport, military ID, or tribal ID. You‘ll also need the endorsed money order itself.
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Sign the back of the money order in the correct space. Avoid making any other marks or writing on the money order.
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Present the money order and your ID to the associate at the MoneyCenter desk.
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Fill out a short form with some basic information from your ID for Walmart‘s records.
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The associate will examine the money order and run it through their verification system to confirm its authenticity and that it hasn‘t already been cashed.
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Once approved, you‘ll be given the cash value of the money order. You won‘t be charged any fees as the recipient.
The whole process is typically quite quick, often completed within a few minutes if there are no issues with the money order or your ID. It‘s important that the money order is properly filled out by the sender and signed by you, and that your ID is valid and matches the name on the money order.
Sending Money Orders at Walmart
In addition to cashing money orders, Walmart is also a popular place to send money orders, thanks to their low fees. Here are the basic steps:
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Visit the MoneyCenter desk at your local Walmart and request to send a money order. Specify the amount and whether it will be sent within the U.S. or internationally.
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Fill out the money order form completely and legibly. Double check the recipient‘s name and address, your information, and any memo fields.
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Choose to pay with cash or a debit card and give the funds and applicable fee to the associate.
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Receive the completed money order and your purchase receipt, which you should retain until the money order is cashed.
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Deliver the money order to the recipient promptly via secure mail or in person.
Some best practices for sending money orders include keeping your receipt in case of any trouble, using tracked mail for secure delivery, and including your full account numbers for any bill payments. Be sure to let your recipient know to expect the money order with the amount so they can alert you if it doesn‘t arrive.
Understanding Walmart MoneyCenter Hours and Fees
To make use of Walmart‘s money services, you‘ll need to visit a store when the MoneyCenter is open. Most locations have extended hours from 8 a.m. to 8 p.m. Monday through Saturday, and 10 a.m. to 6 p.m. on Sunday. However, these times can vary, so check with your local store for exact hours.
Walmart‘s financial services fees are some of the most competitive in the industry. Here‘s a quick rundown of the most common fees:
- Cashing a check: $4 for checks up to $1000, $8 for checks over $1000
- Cashing a Walmart MoneyGram money order: No fee
- Sending a money order: $.88 flat fee up to $1000
- Walmart2Walmart money transfer: $4-16 based on transfer amount
- Bill payment services: $1 per payment
Compared to many other retail chains and standalone check cashing stores, Walmart‘s transparent, low-fee structure can provide big savings, especially for those conducting frequent transactions.
Spotting and Avoiding Money Order Scams
While money orders are generally a secure payment method, scams do happen. Here are some red flags to watch out for and tips to protect yourself:
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Overpayment scams: Be wary of someone sending you a money order for more than the agreed upon amount for a purchase or service. They may ask you to deposit it and send them back the excess funds. Later, the money order will turn out to be fraudulent and you‘ll be on the hook.
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Mystery shopper scams: Ignore unsolicited offers to be a secret shopper or payments processor for a company. The scammer will send you a fake money order to deposit, have you purchase gift cards or items to "evaluate," but ultimately leave you responsible for the bad money order.
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Online classified scams: Use caution when accepting money orders for items you‘re selling online through sites like Craigslist or Facebook Marketplace. A scammer may send a fake money order and ask for the item to be shipped before it clears. Always verify a money order is legitimate with the issuer before shipping.
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Advance loan fee scams: Avoid falling for offers of easy loans or credit if you pay an upfront fee by money order. These scams prey on those with poor credit, but the loan never materializes after the money is sent.
If you do end up with a suspicious money order, don‘t try to cash it. Instead, bring it to the attention of the issuer (MoneyGram, Western Union, USPS, etc.) for verification. And remember, if a money order deal sounds too good to be true, it probably is.
The Future of Money Orders
As digital payment options like Venmo, PayPal, Zelle, and mobile banking apps have proliferated, some may wonder about the staying power of old-school paper methods like money orders. However, industry insiders say consumer demand remains steady, especially among certain demographics.
Those who are unbanked or underbanked, often due to socioeconomic barriers, rely heavily on money orders for making payments and transfers. Older consumers also tend to favor this familiar method over newer technologies. In immigrant communities, international money orders are a popular way to send funds to family and friends abroad.
Looking ahead, companies are working to blend the security and anonymity of money orders with more modern conveniences:
- Both MoneyGram and Western Union now offer online money order purchases for home delivery.
- The USPS has introduced an electronic money order option in some locations, allowing for a hybrid digital-paper experience.
- Walmart is piloting a Direct2Cash program where recipients can pick up money order funds directly at a store register without needing to first cash the money order itself.
As the payment landscape continues to evolve, major players like Walmart, Western Union, and MoneyGram appear positioned to adapt their money order offerings to keep pace with consumer expectations around speed, ease of use, and multichannel access. At the same time, the core benefits of money orders — simplicity, security, and accessibility — are likely to sustain their appeal well into the future.
Conclusion
While you can‘t cash a Western Union money order at Walmart, you still have plenty of convenient and affordable options for turning that secure paper payment into spendable cash. Grocery stores, banks, check cashing stores, and post offices are all great alternatives, generally with reasonable fees.
And if you‘re looking to send a money order or conduct other money services, Walmart‘s MoneyCenter should be a top choice. With transparent, low fees, an extensive retail footprint, and an increasing array of products, they‘ve established themselves as a go-to resource for the budget-savvy consumer.
Whether you prefer the familiarity of a paper money order or are intrigued by new digital solutions, it‘s empowering to understand all the tools in your financial toolkit. Armed with this knowledge, you can make informed, economical choices to send and receive money with confidence.
