Money orders are a popular way to send money to someone or pay for goods and services without using cash or checks. They are typically issued by a bank, a post office, or a money transfer agent, and they can be cashed at any of these places as well. But what about UPS? Does UPS sell or cash money orders in 2023? And if not, why not? In this article, we will answer these questions and more, and provide you with some alternatives to UPS for your money order needs.
What is a Money Order?
A money order is a type of payment that allows you to transfer money from one location to another without using cash or checks. A money order is similar to a check, but it has some advantages:
- It is prepaid, so you don’t need to have a bank account or credit card to buy one.
- It is more secure, as it has your name and the recipient’s name on it, and it can be tracked if lost or stolen.
- It is more widely accepted, as it can be cashed at any bank, post office, or money transfer agent that offers money order services.
Money orders are typically used for:
- Sending money to someone who doesn’t have a bank account or prefers cash.
- Paying bills or rent that require a money order as a payment option.
- Buying goods or services from someone who doesn’t accept checks or credit cards.
- Keeping your extra spending cash secure when traveling.
Does UPS Sell Money Orders?
The short answer is no. UPS does not sell money orders in 2023, and it has never offered money orders as a service. UPS is a logistics and shipping company that provides a range of services to individuals and businesses, such as:
- Package delivery
- Freight shipping
- Mailbox rental
- Printing and copying
- Notary public
- Passport photos
- Packing supplies
However, none of these services include money orders. UPS does not have the authorization from a bank or a financial institution to issue money orders, and it does not have the infrastructure or the security measures to handle them.
Why Doesn’t UPS Sell Money Orders?
There are several reasons why UPS does not sell money orders in 2023. Some of them are:
- Money orders are not part of UPS’s core business. UPS started out as a shipment and delivery company, and it has focused on expanding its logistics and shipping services over the years. Money orders are not related to these services, and they do not fit with UPS’s brand identity or mission statement.
- Money orders are not profitable for UPS. Money orders are typically sold for a low fee, ranging from $0.65 to $1.25 depending on the amount and the provider. This fee barely covers the cost of printing, processing, and tracking the money order, and it does not generate much revenue for the seller. UPS would have to invest a lot of money and resources to offer money orders, and it would not get much return on its investment.
- Money orders are risky for UPS. Money orders involve handling large amounts of cash, which increases the risk of theft, fraud, and loss. UPS would have to implement strict security protocols and procedures to prevent these risks, and it would also have to deal with customer complaints and disputes if something goes wrong with the money order. These risks could damage UPS’s reputation and customer satisfaction.
Does UPS Cash Money Orders?
The short answer is also no. UPS does not cash money orders in 2023, and it has never provided money order services in any form. UPS does not have the authorization from a bank or a financial institution to cash money orders, and it does not have the infrastructure or the security measures to handle them.
Why Doesn’t UPS Cash Money Orders?
The reasons why UPS does not cash money orders in 2023 are similar to the reasons why it does not sell them. Some of them are:
- Money orders are not part of UPS’s core business. UPS is a logistics and shipping company that provides a range of services to individuals and businesses, but none of them involve cashing money orders. Cashing money orders would divert UPS’s attention and resources from its main services, and it would not add much value to its customers.
- Money orders are not profitable for UPS. Cashing money orders involves paying out cash to the customer, which reduces UPS’s cash flow and liquidity. UPS would also have to pay fees to the bank or the financial institution that issued the money order, which would reduce its profit margin. Cashing money orders would not generate much income for UPS, and it would increase its expenses.
- Money orders are risky for UPS. Cashing money orders involves verifying the authenticity and validity of the money order, which requires specialized equipment and trained staff. UPS would have to deal with the risk of counterfeit, forged, or altered money orders, which could result in losses or legal issues. UPS would also have to deal with customer complaints and disputes if something goes wrong with the money order. These risks could damage UPS’s reputation and customer satisfaction.
What are the Alternatives to UPS for Money Orders?
If you are looking for a place to buy or cash money orders in 2023, you have plenty of other options besides UPS. Some of them are:
- Banks and credit unions. Banks and credit unions are the most common and reliable places to buy or cash money orders. They usually charge a low fee, and they offer a high level of security and convenience. However, you may need to have an account with them, and they may have limits on the amount or the number of money orders you can buy or cash per day.
- Post offices. Post offices are another popular and trustworthy place to buy or cash money orders. They usually charge a low fee, and they offer a wide network of locations and hours. However, they may have long lines and wait times, and they may not accept money orders from other providers.
- Money transfer agents. Money transfer agents are companies that specialize in providing money transfer services, such as Western Union, MoneyGram, or Ria. They usually charge a higher fee than banks or post offices, but they offer a fast and convenient way to buy or cash money orders. However, they may have limited locations and hours, and they may have stricter requirements for identification and verification.
- Convenience stores, supermarkets, and pharmacies. Some convenience stores, supermarkets, and pharmacies may sell or cash money orders as a third-party service. They usually charge a higher fee than banks or post offices, but they offer a convenient way to buy or cash money orders while shopping for other items. However, they may have limited availability and selection of money orders, and they may not accept money orders from other providers.
How Much Do Money Orders Cost in 2023?
The cost of buying or cashing a money order in 2023 depends on several factors, such as:
- The amount of the money order. The higher the amount, the higher the fee.
- The provider of the money order. Different providers charge different fees for their money order services.
- The location of the provider. Different locations may charge different fees for their money order services.
- The type of the money order. Domestic money orders are cheaper than international money orders.
Here are some examples of how much money orders cost in 2023 from some of the most common providers:
- USPS: $1.25 for domestic money orders up to $500, $1.75 for domestic money orders up to $1,000, $10.25 for international money orders up to $700.
- Western Union: $1.50 for domestic money orders up to $1,000, varies for international money orders depending on the destination and the exchange rate.
- MoneyGram: $1.25 for domestic money orders up to $500, $1.65 for domestic money orders up to $1,000, varies for international money orders depending on the destination and the exchange rate.
- Kroger: $0.65 for domestic money orders up to $1,000 with a Kroger card, $0.88 without a Kroger card.
- Walgreens: $0.84 for domestic money orders up to $500.
Summary
In conclusion, here are some key points to remember about UPS and money orders in 2023:
- UPS does not sell or cash money orders in 2023, and it has never offered money order services in any form.
- UPS does not sell or cash money orders because they are not part of its core business, they are not profitable for it, and they are risky for it.
- There are many alternatives to UPS for buying or cashing money orders in 2023, such as banks, post offices, money transfer agents, convenience stores, supermarkets, and pharmacies.
- The cost of buying or cashing a money order in 2023 depends on the amount, the provider, the location, and the type of the money order.
We hope this article has answered your questions about UPS and money orders in 2023. If you have any feedback or suggestions, please let us know in the comments section below. Thank you for reading!
