With digital advancements where payments can be made online, money orders seem somehow old-fashioned. Everyone now does online payment, with cards, or with checks.
No one always remembers to use the money order, although it has so many advantages. Fortunately, some banks still use it.
But is Wells Fargo bank among these few? Read on to find out more!
Does Wells Fargo Do Money Orders?
Wells Fargo does money orders for its customers with checking accounts. Money orders can be purchased at any of the Wells Fargo banks nearest to you provided the limit is not exceeded.
The fee on the money order varies, depending on the type of checking account you have with the bank.
Generally, getting a money order at Wells Fargo is worth it. For customers with a checking account that waive money order, the cost of getting one is zero USD.
Plus, there is the matter of convenience. You can visit any bank branch to get the money order.
Wells Fargo Money Order Fee
Wells Fargo money order costs between 5 USD to nothing, depending on your checking account type. Money order for an everyday checking account costs 5 USD.
Clear access banking checking account cost 5 USD also. But customers with portfolios by Wells Fargo checking account get a money order at zero cost.
Getting a Wells Fargo money order is very affordable. Checking account holders with freebies attached to the account enjoy money orders that cost nothing.
In addition to it being cheap, money orders gotten from Wells Fargo bank do not expire. But a service fee is deducted from the principal amount if the order is not cashed within 1-3 years.
Read the fine prints behind the money order for more details.
Limits On Wells Fargo Money Orders
Wells Fargo’s money order has a limit, following the IRS directives. There is a 1,000 USD maximum limit for local money orders and a 700 USD maximum limit for international money orders.
There are no minimum limits for Wells Fargo money orders. But the cost remains the same. Even if you get a 5 USD money order, you still need to pay the 5 USD cost.
However, if you need more than the stated maximum limits, you’ll need to get more than one money order. For instance, if you need a 3,000 USD worth money order, you can get three 1,000 USD money orders to cover it.
However, if a business receives multiple money orders of up to 10,000 USD, it will be reported to IRS.
How to Buy A Money Order At Wells Fargo
Buying a money order at Wells Fargo bank is very easy. First of all, they are not available for purchase online, you’d have to visit a Wells Fargo bank to get one.
- Go straight to the teller’s station at the bank and request one.
- You’d be required to fill in the business name in the “pay to the order of” section.
- Fill in your name and signature in the right places.
- Fill in your address, the amount, and the account number you want the payment routed.
- You will receive a receipt. You should keep the receipt till the order is cashed.
You can also get a money order from the cashier desk at a store. Retail stores like grocery stores or pharmacies with a western union or MoneyGram logo do give out money orders.
- Write the recipient’s name and address in the “pay to” section.
- If you leave it blank, the wrong people can fill in their details and cash the order.
- Next, fill in your information in the remitter/sender section.
- Sign the money order at the “purchaser’s signature” section.
- You should not sign at the back of the order unless you are cashing it out yourself.
You can either pay in cash or with a debit card to get a money order from a retail store. If you are getting it from a Wells Fargo bank, the amount is deducted from your savings or checking account.
Do Wells Fargo Cash Money Orders?
You can cash your money order at any Wells Fargo bank after receiving or through the bank app. You can also deposit it into your savings or checking account as you would a check.
Whether you are depositing it into an account or cashing it, it comes with no charges at all. The process is almost the same. You only pay a fee if the money order is dormant already.
You need to sign at the back of the order to endorse it. You shouldn’t do that unless you are in the bank and want to cash the money order.
You also need to provide a valid ID to show your authorization to cash it.
How To Track Wells Fargo Money Order
There are three ways to track a Wells Fargo money order. You can submit a form at the bank to help check if the money order is cashed.
But it comes at modest charges. You can also use the online tracking system or call an automated response number (1-800-926-9400).
With any of these options, you can track the money order.
Does Wells Fargo Sell International Money Orders?
Wells Fargo sells international money orders with a maximum limit of 700n USD. You can get it at any of the Wells Fargo banks. The tracking is also the same for the local money order. You can do that online when you call 1-800-999-9660
Wells Fargo Money Orders Refundeds
You can get a replacement or refund on your money order at Wells Fargo bank. If the money order is not yet cashed. It comes with charges and a few days delay.
If you still have your receipt, visit any Wells Fargo bank branch with it. You will fill out a form requesting a replacement or a refund.
The money order will be canceled and replaced or refunded.
But if it is cashed by someone else, not the intended recipient, you may get a document from where it is cashed. You should report such an act to law enforcement.
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.