A money order is a convenient form of payment. Money orders are closely identical to checks and are a paper/document form of payment.
However, unlike checks, money orders offer a guaranteed method of payment as there is no way money orders can bounce. Moreover, one can purchase money orders through cash or debit cards.
The easiest way to get money orders is by visiting a retail store, however, almost all banks offer this service in exchange for a small fee.
Wells Fargo is renowned as a multinational financial services company offering financial services such as credit cards, loans, bank accounts, etc. Moreover, it is the fourth-largest bank in the United States with over 8,050 branches.
Does Wells Fargo Do Money Orders?
Wells Fargo has a money order limit of $1,000. To get one, visit a branch or call the number on the order form. The money order fee is $5 for a regular account and free for a portfolio account.
|Limit Per Money Order||Limit On Number Of Money Orders||Cost Per Money Order||Limit Before Reporting To IRS|
|Domestic Money Orders||$1,000||Unlimited||$0 – $5||$10,000|
|International Money Orders||$700||Unlimited||$0 – $5||$10,000|
There is no upper limit to a money order and you can purchase it at any Wells Fargo bank branch.
Wells Fargo has over 8000+ branches in the United States and you can choose any. You can visit your Wells Fargo branch closest to you by visiting their website.
Next, let’s take a look at the cost of Wells Fargo money orders.
How Much Does Wells Fargo Money Order Cost?
So, on average, a Wells Fargo money order costs $5. However, the costs vary depending on your account type. Hence, we have mentioned a table below where you can check the cost.
|Clear Access Banking||$5|
|Portfolio by Wells Fargo||$0|
If you compare these costs to retail stores like Walmart which offers money orders at a fee as low as 88 cents, they seem very high.
However, if you go to the USPS or even a Western Union branch, they will charge a fee of $1-5. Also, this fee can vary from location to location.
So, we advise that you thoroughly check the money order fee before directly visiting the banking branch.
Are There Limits On Wells Fargo Money Orders?
So, recently there have been some IRS re-regulations regarding money orders. Hence, for Wells Fargo customers, there is a maximum limit of $1,000 and $700 for local and international money orders respectively.
However, you can purchase any number of money orders at Wells Fargo. There is no set total limit. Also, the cost ranges from $0-5 varying by the checking account type.
In case you need more than $1,000 worth of money orders, suppose $3,000, so you will be required to purchase $1,000 worth of 3 money orders.
Also, according to the IRS, if any business receives money orders worth $10,000+ (multiple money order), then the bank is liable to report it to the IRS.
How Do I Buy A Money Order At Wells Fargo?
You can buy money orders from many locations. Either you can get it from Wells Fargo bank branches, the post office, or even from retail and grocery stores that offer Western Union or MoneyGram Services.
To fill out a money order, follow these steps:
- Fill out the recipient’s name and address. This information should be filled into the “pay to” section. This you should do immediately as in case of a stolen money order, someone can easily cash it.
- Next fill in your name and address. Usually, this section is labeled as “purchaser” or “sender.”
- You can also fill in some important info in the memo line. This can include an important note or an account number.
- Lastly, sign the money order (in the front). You should sign where it says “purchaser’s signature”. Do not sign the back of the money order unless it’s to yourself.
If you are purchasing the money order from a store, then you can make payment by cash or debit card. But, if you are purchasing the money order from a Wells Fargo bank branch, the amount would be deducted from your checking account.
So, now that you have bought a money order, how can you track it?
How To Track Wells Fargo Money Order?
So, there are 2 methods to track a Wells Fargo money order. This depends on the purchase procedure.
If you have purchased the money order from a Wells Fargo bank branch, then you just need to submit a form at the helpdesk to know the status.
However, if you have purchased from any retail or convenience store with Western Union or MoneyGram support, you can do either of the three:
- Submit an Online Form. For MoneyGram: link, and for Western Union: link.
- Call the Customer Care. For MoneyGram: 1-800-926-9400, and for Western Union: 1-800-999-9660.
- Or, you can visit the nearest MoneyGram or Western Union location.
Also, keep in mind that Western Union can charge up to $15 as administrative fees.
But, does Wells Fargo sell international money orders?
Does Wells Fargo Sell International Money Orders?
Wells Fargo does sell international money orders. You can get an international money order at any of their branches.
However, there is a limit of $700 per money order and the tracking process is the same.
Now, let’s see how you can cash your money orders.
Do Wells Fargo Cash Money Orders?
You can cash your Wells Fargo money order at any branch or even through the mobile app. Also, you can deposit the money order into your checking account.
However, once at the bank, just make sure to sign the back of your money order and carry a valid ID proof with yourself.
Also, there would be some transaction fee in case of a dormant money order.
Now, let’s see how you can refund your Wells Fargo money orders.
Can You Get Your Wells Fargo Money Orders Refunded?
You can refund your Wells Fargo money orders until cashed or deposited. Also, you can do it at any branch location.
All you need to do is bring your money order and fill out a refund/replacement/cancellation form. The process takes a bit of time and is subjected to administrative fees.
Also, if someone else has cashed out your money order, you can report to the bank or law with the proper documents.
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.