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Maverick Sanchez
Maverick Sanchez

Buy Money Order With Prepaid Card

This blog has partnered with CardRatings for our coverage of credit card products. This site and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author's alone and have not been reviewed, endorsed or approved by any of these entities.

buy money order with prepaid card

There are scams that exists where a potential buyer will ask you to get on a three-way call to verify the balance on the card. While this sounds legit, what often happens is that the potential buyer writes down the card number as you share it with the customer service rep and then uses the balance on the card from there, without ever paying you for it. Look out for these scams.

Your best bet is to check the balance online and then share the screenshot with any potential buyers as mentioned above. Be sure to block out any information that might make it easy for the card information to be stolen from you.

You could use your Visa gift card to pay bills. Many utility companies will allow you to pay your bill with a Visa gift card, processing it much like a credit card payment. You save money by reducing the amount of cash coming out of your checking account to pay bills.

Visa gift cards are more flexible that most gift cards because you can use them anywhere Visa is accepted. But not everything can be paid for with a gift card. If you need cash for any purpose, try converting your Visa gift card using one of the methods listed above. And always remember to look out for scams when dealing with another party.

Yes, you can buy a money order with a credit card from places like Western Union and 7-11. Just keep in mind that credit card companies consider the purchase of a money order to be the equivalent of a cash advance, so the transaction will trigger an expensive fee and a high interest rate will take effect right away.

Because buying a money order with a credit card is considered a cash advance by credit card companies, the purchase will trigger an expensive fee and a high interest rate. The average cash advance fee is 3.84%, and the average cash advance APR is 22.53%. Both will immediately apply to the amount you spend on the money order.

In addition, you will likely pay a fee to the company you buy the money order from, no matter how you pay for it. These fees range from less than a dollar to a few dollars, depending on the company and the size of the money order.

Third-party services, such as Plastiq, allow you to pay utility bills with a credit card. However, you will likely need to pay a fee. Some utility companies accept online bill pay from a credit card account, too.

There are a number of third-party services that allow people to pay their rent with a credit card when their landlord does not accept credit directly. Some of the most popular are RentPayment, PlacePay, RentTrack and ClickPay. Be sure to familiarize yourself with any fees before using these services.

Another common use of money orders is buying items in certain categories on eBay and Etsy. However, most of these sellers will also accept third-party payment services like PayPal, Venmo and Google Wallet.

A money order is exactly what it is named. It is money that is ordered and therefore printed onto a paper document to be given to the receiver. It is more guaranteed and respected when compared to a personal check but not as respected or guaranteed as a cashier's check. On this note, here are some reasons why:

In order to get a money order it has to be paid for with cash money. The amount of the money order is then digitally typed or printed onto a paper note as proof of its purchase letting the receiver know that real money was involved in its publishing. A personal check is handwritten and given to the receiver and the receiver. From that point on, the receiver is at the mercy of the account connected to the check trusting that there is enough money in the account for the check to be covered and not bounce upon being placed in the receiver's account.

A money order can only be issued at a height of $1,000. If you wanted to send somebody $2,500 through a money order payment method, you would have to get two $1,000 money orders and one $500 money order. Cashier's checks can be issued at heights way above $1,000. This is why they are a commonly requested form of payment when making a down payment on a home.

No, you cannot buy a money order with a credit card at Walmart. Walmart only accepts cash and debit cards as payment for money orders, which can be purchased from either the Customer Service Desk or the Money Services Center at any Walmart or Neighborhood Market.

Money orders are official documents representing a specific monetary value, similarly to written checks. However, money orders are different from other forms of payment in a few different ways, which you can read about below. What's important to know up front is that money orders are prepaid, so you must be able to pay for the full amount you want to include in your money order when you go to purchase it. For example, if you want to send a $100 money order to a family member, you need to be able to pay $100 up front in order to create the money order. Money orders aren't a form of credit and don't require a credit score, and you don't even need a bank account to pay for one. This makes money orders an accessible form of payment for people in a wide variety of financial situations.

In addition to paying up front, you'll need to list a payee. The payee is the person or organization where you want to send the money. Once the money order is created, you can mail or physically hand it to the payee. The money order must bear the signature of the payer (you, if you're the one sending it) and the payee in order to be valid. You'll want to hang on to any documentation relating to the money order, such as a pay stub and/or receipt, until you're sure the payee has signed and cashed the money order.

Money orders are great to use in situations where other forms of payment are either unavailable or unsafe. The nature of a money order essentially makes it as good as cash, which might make it reassuring if you're skeptical of whether someone who's paying you with a money order is able to settle a debt. You can use money orders to pay off personal debts to other individuals, pay bills to companies, or send gifts. There are no formal legal restrictions on what you can use money orders for in the US. However, money orders may not be valid internationally. If your payee is located outside of the US, make sure to check on whether they'll be able to cash it in their country. Find this out up front before you purchase. You may be able to cash your own money order if you can't actually use it for its intended purpose, but you may not want to take this risk or deal with the hassle.

There are some distinct advantages to using money orders, but there are also some drawbacks. Consider these other forms of payment as options in addition to money orders before purchasing. Though money orders protect against some types of fraud, they aren't fraud proof. Money order scams are relatively common, so consider your payment method carefully, particularly if you don't know the payee. 041b061a72


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