The United States Postal Service (USPS) has long been known for its mail and shipping services, but it also offers a range of financial services that can benefit individuals and businesses alike. With safe and affordable options for sending and receiving money across all states in the U.S., USPS is becoming an increasingly popular choice for those seeking a reliable and convenient way to manage their finances.
From check cashing to money orders, USPS offers a variety of money services that can help streamline your financial transactions. Whether you need to send money to a loved one or pay a bill, USPS can provide a one-stop solution for all your money service needs.
In this article, we will explore the various money services offered by USPS and how they can benefit you.
Postal Money Services
USPS offers a variety of money services, including money orders that are safe, affordable, widely accepted, and have no expiry date. Customers can send or receive money orders of up to $1000 across all states of the U.S. with USPS. The issuing fee for money orders ranges from $1.65 to $2.20, depending on the amount of the money order.
To cash a money order at USPS, customers need to make sure that they have received an original money order, have their primary photo ID, and sign the money order in front of the retail associate. The rural carrier has the authority to cash the order on the spot in rural areas, depending on the availability of enough cash.
Money orders are easy to track and follow-up if they get damaged, lost, or stolen. The advantage of using money orders is that they are safer than sending cash through the mail and can be used to pay bills or make purchases where personal checks are not accepted.
Overall, USPS’s money order services are a secure and convenient way for customers to send and receive money across the U.S.
Check Cashing Services
The check cashing service provided at select USPS locations is a convenient option for customers who need to cash paychecks or business checks. The service is currently available at four pilot testing locations in Washington, D.C., Falls Church, Va., Baltimore, Md., and the Bronx, N.Y. Customers can exchange their checks for Visa gift cards, with a limit of $500 per transaction. However, it is important to note that USPS is not authorized to issue cashier or teller checks to customers. Customers looking for teller checks should visit authorized banks or credit unions.
To further emphasize the limitations of the check cashing service at USPS, a table can be used to present the details clearly. The table below compares the check cashing service at USPS with other check cashing options.
|USPS||Paychecks/Business checks||Visa Gift Cards||$500|
|Banks/Credit Unions||Teller Checks||Cash or deposit||Varies|
|Check Cashing Stores||Paychecks/Business checks||Cash or prepaid card||Varies|
As shown in the table, USPS only redeems paychecks or business checks for Visa Gift Card top-up, while banks and credit unions offer a wider range of redemption options. Check cashing stores offer both cash and prepaid card options, but the fees may vary. Therefore, customers should consider their needs and options before choosing a check cashing service.
Money Order Services
Money orders are a widely accepted and safe method of sending or receiving money that do not have an expiry date. With the United States Postal Service, customers can send or receive money orders of up to $1000 across all states. The issuing fee for money orders ranges from $1.65 to $2.20, depending on the amount of the money order.
To cash a money order at USPS, customers need to make sure that they have received an original money order, have their primary photo ID, and sign the money order in front of the retail associate. In rural areas, the rural carrier has the authority to cash the order on the spot, depending on the availability of enough cash.
Money orders are easy to track and follow-up if they get damaged, lost, or stolen, providing customers with peace of mind when sending or receiving money. The USPS money order services offer a reliable and secure option for those who need to send or receive money across distances.