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The USPS International Money Order is a convenient way to make payments globally. It's available in denominations from $1 to $1,000.
You can purchase an International Money Order at any Post Office location. This is a great option for people who don't have access to a bank account or prefer not to use electronic payment methods.
The recipient can cash the money order at a bank or other financial institution in the destination country. This process is relatively quick and easy, making it a popular choice for international transactions.
The fees for purchasing an International Money Order are reasonable, with a flat rate of $5.50 for orders up to $1,000.
Take a look at this: What Has a Bank with No Money?
Sending Money Orders
To send a USPS International Money Order, you'll need to visit a post office location that offers money order services, as not all locations offer this service.
You can purchase a money order with cash, and the maximum value is $700.
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Each money order has a unique serial number that can be verified online to ensure it's valid and hasn't been altered or replaced.
The sender's name and address are printed on the money order, but the recipient's name and address are left blank to be filled in by the recipient.
The money order can be cashed at a post office, bank, or other financial institution that accepts money orders.
What Transfers Can I Make with USPS?
You can make two types of transfers with USPS: money orders and wire transfers. You can purchase and mail a money order, which is a convenient option for one-off payments.
Money orders are fairly inexpensive and easy to send, especially if you have the recipient's name and address ready to expedite the process. If you're sending to one of the 10 countries serviced in Central or South America, you can also wire funds to a participating bank.
Here are your transfer options with USPS:
- Money orders: Purchase and mail a money order.
- Straight-to-bank: Use Sure Money to wire money directly to a participating bank.
Availability depends on whether you're sending via money order or wire transfer.
Countries and Limits
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Countries that accept international money orders from the U.S. include Albania, Anguilla, and many others. You can find the full list in the USPS website or at your local post office.
Some countries have restrictions on the amount of money you can send via international money order. For example, El Salvador and Guyana have a maximum limit of $500, while most other destinations have a limit of $700.
The list of countries that accept international money orders is quite long, but it's essential to check if the destination country is on the list before sending a money order. You can also check the USPS website for any updates on countries that no longer accept international money orders.
Here's an interesting read: Money Check
Countries Accepting U.S. Mail
Countries accepting U.S. mail can be a bit tricky to navigate, but I've got the lowdown. The list of countries that accept international money orders from the U.S. is a bit limited.
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Here are the countries that accept U.S. money orders:
- Albania
- Anguilla
- Antigua and Barbuda
- Bahamas
- Barbados
- Belize
- Bolivia
- The British Virgin Islands
- Cape Verde
- Dominica
- Dominican Republic
- Ecuador
- El Salvador
- Grenada
- Guinea
- Guyana
- Honduras
- Jamaica
- Mali
- Montserrat
- Peru
- Saint Kitts and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
- Sierra Leone
- Trinidad and Tobago
Note that Canada and Japan are no longer on this list, and you should be aware of some changes in how money orders are handled for certain countries.
Beware Hidden Fees & Limits
International money orders may seem like a convenient way to send money abroad, but beware of the hidden fees and limits that come with them. A fixed fee of $10.25 is charged by USPS on every international money order, on top of exchange rate margins that can range between 2 and 10% of the total transfer amount.
You'll also want to be aware of the low maximum limit on the amount of money you can send abroad. With USPS, international money orders are capped at a maximum of $700.00, or $500.00 for El Salvador and Guyana.
These restrictions can make international money orders very restrictive for those wishing to send larger amounts of money home. To give you a better idea, here are the types of fees you can expect to pay:
- Fixed fees: $10.25 charged by USPS
- Exchange rate margins: 2-10% of the total transfer amount
It's worth noting that these fees can add up quickly, making international money orders a less appealing option for larger transactions.
Benefits and Considerations
International money orders from the USPS offer a range of benefits that make them a viable option for sending money across borders.
One of the primary advantages of international money orders is that they can be used to send money to people without a bank account.
They are also very secure, which provides peace of mind for both the sender and recipient.
International money orders do not expire, giving the recipient ample time to cash them.
This can be a significant advantage over other transfer methods that may have time limits or expiration dates.
International money orders can also be easily tracked, making it simple to monitor the status of the transfer.
This level of transparency can be reassuring for both parties involved in the transaction.
Intriguing read: How Long Does Wiring Money Take Internationally
Frequently Asked Questions
Does Walmart sell international money orders?
Yes, Walmart sells international money orders. However, mail delivery times may vary.
Can a money order be cashed in a foreign country?
Yes, money orders can be cashed in 28 countries, but check the amount limit with USPS before traveling. For larger amounts, you may need to visit a bank instead of a USPS location.
Sources
- https://www.finder.com/international-money-transfers/usps
- https://firstquarterfinance.com/how-to-mail-money-order/
- https://about.usps.com/newsroom/service-alerts/international/money-orders-for-select-countries.htm
- https://www.uspsoig.gov/reports/audit-reports/controls-detect-money-order-fraud
- https://www.monito.com/en/wiki/international-money-orders
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