A money order is an extremely conventional but easy way to pay. You can say that they act as an alternative to cheques, however, unlike cheques, they can’t bounce.
Money orders are a sort of payment guarantee on paper that can be bought using cash, credit, or debit cards. You can buy a money order at almost any retail store nowadays. However, there are many banks too that give out money orders.
Capital One is primarily recognized as the largest technology-focused bank in the US. It specialized in credit cards, auto loans, and banking. Moreover, it has over 755 branches and 2,000+ ATMs in the country.
However, does Capital One do money orders? We will find that out next.
Does Capital One Do Money Orders?
Unfortunately, Capital One doesn’t do money orders. Alternatively, you can visit retail stores that support MoneyGram or Western Union. These stores will cost you around $1-$4 and you can pay with cash, credit, and debit cards.
You can even try some big retail outlets like Walmart and Safeway which charge extremely low exchange fees of under $1.
But why don’t Capital One do money orders? Let’s find out.
Why Don’t Capital One Do Money Orders?
Capital One has the option for a cashier’s cheque instead of a money order. A cashier’s cheque is almost equivalent to a money order and the payment is almost instant and guaranteed.
However, unlike a money order, a cashier’s cheque can also be used for transactions above $1,000, but you must have a bank account for purchasing a cashier’s cheque.
Many banks opt for cashier’s cheques over money orders, and Capital One is one of them.
However, have Capital One ever offered money orders before?
Has Capital One Ever Offered Money Orders Before?
Capital One has not offered money orders before. And since they have an alternative to money orders, i.e., cashier’s cheques, it’s quite possible that they won’t do money orders in the future.
Also, they don’t do money orders but they do accept one. You can easily get your money orders cashed at any Capital One branch.
So, if Capital One doesn’t offer money orders, do they do money transfers?
Does Capital One Do Money Transfer?
So, there are numerous ways in which you can transfer money from your Capital One account. We have listed them below.
- You can transfer funds electronically from one Capital One account to the other instantly. However, transfer to other bank accounts may take up to 2-3 business days.
- You can even opt for a cahier’s cheque which is a brilliant alternative for a money order. However, it will cost you an additional $10 as an exchange fee.
Capital One even offers international wire transfer options. However, such transfers would be subjected to a fee of $65 or even above (depending on the transaction).
So, now that we know that Capital One does money transfers, are there any money order alternatives available?
Are There any Money Orders Alternatives at Capital One?
Capital One does offer cashier’s cheques at an exchange fee of $10. Also, there are no upper limits to cashier’s cheques.
So, the best alternative to a money order is a cashier’s cheque. A cashier’s cheque is backed by your bank and the payment is almost instant. This happens because the amount is debited from your bank account.
Other alternatives include wire transfer. However, this can take up to 24 hours or even sometimes 2-3 days (in the case of international transfers).
Next, let’s find out what other places offer money orders.
What Other Places Offer Money Orders?
You can get money orders at any convenience stores, retail stores, pharmacies, supermarkets, and many more. Some places that sell money orders include:
- United States Post Office
- 7 Eleven
- Any local bank
You can even walk into any store that provides MoneyGram or Western Union services. Money orders from these locations are very cheap and usually cost between $1-$5.
Also, you must note that even if these retail stores do offer money orders, some of them might not cash them for you.
Can I Buy a Money Order at Capital One?
So, Capital One does not do money orders. However, you can opt for other money order alternatives like cashier’s cheques or even wire transfers which don’t require additional fees.
However, if you need a money order, you can visit any supermarkets, convenience stores, pharmacies, or retail outlets. They will charge you around $1-$5 depending on the service.
You can even reach out to banks like Wells Fargo and Citibank and offer money orders for a minimal fee of $5.
Benjamin is a certified financial advisor, with over 10 years of experience in the industry. He is knowledgeable about various business and financial topics, such as retirement planning and investment management. Ben has been recognized for his work in the financial planning industry. He has also been featured in various publications.