Do Banks Have Money Orders? Fees, Limits, and Cheaper Options

Among the largest U.S. banks that sell money orders, Chase and Wells Fargo are the two you can count on: each issues money orders up to $1,000 for $5 at any branch, though Wells Fargo requires you to have a checking or savings account there, and Chase waives the fee on several of its checking products.¹² Bank of America does not sell money orders at all, and Huntington Bank only cashes them for existing customers rather than selling them.³

Which Major Banks Sell Money Orders

Policies vary sharply from one institution to the next, so confirm with your branch before you go. Here is where four of the largest banks stand:

Chase sells money orders up to $1,000 at branches for $5. The fee is waived on Chase Secure Checking, Chase Premier Plus Checking, Chase Sapphire Checking, and Chase Private Client Checking.¹
Wells Fargo sells money orders up to $1,000 at any branch for $5 to customers with a checking or savings account.²
Bank of America does not sell money orders. It offers cashier’s checks instead.
Huntington Bank does not sell money orders and only cashes them for its own customers.³

The pattern at large national banks is to reserve money order sales for existing account holders. If you walk into a branch where you don’t bank, expect to be turned away or pointed to a post office or retail store.

What Banks Charge

The typical bank fee is around $5 per money order, which is what both Chase and Wells Fargo charge. Some regional banks charge closer to $2, and certain premium checking accounts waive the fee entirely. Credit unions often come in lowest, sometimes providing money orders to members at no cost.

The fee is either pulled from your account balance or added to the cash you give the teller. If you need to send more than $1,000, you’ll buy multiple money orders and pay the fee on each one, so the cost stacks up fast.

The $1,000 Cap and When to Use a Cashier’s Check

A single bank money order is generally capped at $1,000.² Above that amount you have two options: buy several money orders, or ask the bank for a cashier’s check.

Cashier’s checks have no standard upper limit and are better suited to large payments such as a car purchase or a real estate closing. The bank draws the check against its own funds rather than yours, which the recipient treats as an added layer of security. Cashier’s checks typically cost between $5 and $15, depending on the bank and your account type.

One practical difference matters at the counter: with a money order, you write in the payee’s name yourself. With a cashier’s check, the bank prints the payee’s name at issuance, which reduces the risk that the instrument is altered before it reaches the recipient.

What to Bring and How the Purchase Works

Before you head to a branch, have three things ready:

A government-issued photo ID such as a driver’s license or passport, which the bank uses to verify your identity.
The recipient’s exact full name. If the name on the money order is wrong, the payee may not be able to cash it.
Enough money to cover the face amount plus the fee. Banks accept payment from your account or in cash, and some issuers accept debit cards, but credit cards are rarely accepted for money order purchases.⁴

At the teller window, tell the clerk you want to buy a money order and hand over your ID. The teller verifies your identity, checks your balance or counts your cash, then prints the money order with the payee’s name and dollar amount. You may need to fill in your own address and an optional memo line noting what the payment is for. Keep the receipt or stub the teller gives you: it holds the serial number you’ll need if the money order is ever lost or stolen.

The $3,000 ID and Recordkeeping Rule

If you buy money orders totaling $3,000 or more in cash during a single visit, federal rules require the bank to collect and retain additional information about you. That includes your name, address, date of birth (for non-account holders), and identification details, held on file for five years.⁵ Same-day purchases are aggregated, so breaking a large amount into smaller transactions at the same branch does not sidestep the requirement.

Cheaper Places to Buy a Money Order

If your bank doesn’t sell money orders, or you’d rather not pay $5, three alternatives are usually available.

The Post Office

USPS sells domestic money orders up to $1,000 each at any post office. Fees are well below what most banks charge. You can pay with cash or a debit card, but not a credit card.⁴ Postal money orders are widely accepted and come with a built-in tracking process.

Retail Stores

Walmart charges no more than $1 per money order, making it one of the cheapest options anywhere.⁶ Grocery stores, convenience stores, and check-cashing outlets sell money orders through MoneyGram or Western Union, generally in the $1 to $5 range.

Credit Unions

Many credit unions issue money orders to their members at little or no cost. If you belong to one, check whether it’s already included as a free member service before paying a bank fee for the same thing.

Depositing a Money Order You Received

You can deposit a money order into your bank account the same way you’d deposit a check: at a teller, at an ATM, or in some cases through mobile deposit. Many banks limit which money orders they’ll take by phone. Wells Fargo, for example, does not accept U.S. postal money orders through its mobile deposit feature.⁷ Check your bank’s mobile deposit terms before you try to photograph one.

To cash a money order without depositing it, take it to the institution that issued it, to your own bank, or to a check-cashing store. The bank may place a short hold on the funds, particularly for larger amounts. If you try to cash a money order at a bank where you don’t have an account and that didn’t issue it, expect to be turned away or charged a fee.

1
Chase. Additional Banking Services and Fees for Personal Accounts
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Wells Fargo. Consumer and Business Account Fees
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Huntington Bank. Cashing a Money Order
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USPS.com. Sending Money Orders
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eCFR. 31 CFR 1010.415 – Purchases of Bank Checks and Drafts, Cashiers Checks, Money Orders and Travelers Checks
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Walmart. Money Orders
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Wells Fargo. Mobile Deposit FAQs