A money order functions much like a cheque, used for personal and business purposes. A money order is secure because it cannot bounce like a check.
You can purchase money orders from many banks and other vendors; Chase bank is one of them involved in selling and buying money orders.
Mainly Chase Bank allows the sale and purchase of money orders to its account holders. However, the bank sells its Chase money orders to Chase Credit Card holders, but it also supports non-customers.
Chase Bank charges some fees on the issuance of money orders after figuring out the detailed requirements. This article has discussed a detailed note on Chase Money Orders – its feels, limits, and requirements.
You can read the article thoroughly if you have any confusion regarding Chase money order or its fees.
Cost Of Chase Money Orders
Chase Bank Money order fee is $0 – $5, but it depends upon the checking account you have in Chase bank. You can determine the fee of Chase Bank money order for its account holders or non-customers
Cost Of Money Order For Account Holders
Here we listed the money order fee for different account holders.
| Types of Chase Checking Account | Money Order Fee |
| Chase Premier Plus Checking account | $0 |
| Chase Premier Platinum Checking Account | $0 |
| Chase Total Checking Account | $5 |
| Chase College Checking Account | $5 |
| Chase High School Checking Account | $5 |
Cost Of Money Order For Non-Customers
Chase Bank’s money order fee for non-customers is $0 – $8. Generally, Chase Bank charges the same fee as they charge from the customer of $5. However, it may vary based on the branches’ location and the type of transaction.
Comparison Of Money Order Fee With Other Competitors
Here are some of the competitors with money order fees:
● Walmart
Walmart’s money order fee is no more than $1; it can vary depending on the store’s location.
● United State Postal Services
United State Postal services charge a fee of $1.45 up to $500 for money orders, and for money orders from $500.1 – $1000 fee is $1.95.
● Western Union
Its fee depends upon the transaction amount, location, and transfer method. You can confirm the cost based on your transaction. Moreover, the maximum amount is $1000 for United States money orders.
What Are The Requirements To Get A Money Order?
There are some requirements to get a money order from Chase Bank, you must have your government-issued Identity card, or for advance payment, you must have cash.
Chase Bank customers can also use their debit cards for money order payments. Paying through Credit Card is also possible when the customer is a Chase Credit Card holder or fulfills the other bank requirements.
What Are The Limits Of Chase Money Order?
Chase usually offers money orders to its account holders; to get a money order, you need to visit any Chase Bank branch; Chase is not giving this facility online.
The money order limit in Chase Bank is $1000, and you can purchase one money order within 24 hours. If you need money orders of more than $1000, you have to inform the bank for further details.
Money orders will be issued for a specific period like Chase issued its money orders with a one-year expiry date. Terms and conditions apply based on the type of transaction and the location of your branch.
What Is The Procedure To Buy A Money Order?
To buy a Chase Money order, you have to follow all these steps given below:
- It would be helpful if a consumer had a Chase Saving Account or Chase Checking Account with enough amount for a money order.
- Visit any Chase bank branch and tell them the amount you want money to order.
- Write the name of the payee’s on the line with “Pay to the order of.”
- Keep your receipt; it will help you in case you track or cancel your money order.
You must keep your receipt safe until the payee has cashed the money order to avoid any inconvenience.
Is It Possible To Get Chase Money Order Refunded?
If you have lost your money order, immediately inform the bank, as they can provide you the facility of refund and reissue.
For a refund, you need to tell Chase as soon as possible, visit the branch and ask the teller to cancel the money order request, fill out a form and attach a copy of the original receipt, then submit it to Chase for cancellation.
The money order will be canceled if any other person will not cash it, and you can get your money back. In case you need to be quick to cancel the money order.
Can You Purchase International Money Orders From Chase?
Chase is not giving the service of international money orders in 2022. If you want to transfer the money internationally, use some other way of a transaction or any other entity.
United State Postal services offer International money orders up to $500 with an additional fee of $ 10.50.
Pros And Cons Of Chase Money Order
Pros and cons guide you more about the Chase money order.
Pros of Chase Money Orders
- Chase Money order is a safe mode of transaction.
- You can easily track it by the receipt the bank has issued.
- You can sell and purchase Chase Money orders while you don’t have a bank account.
- Payees have a guarantee of funds.
- Money order does not have any personal information like account numbers.
Cons Of Chase Money Orders
- Chase Bank has a limit amount of $1000.
- There is a fee for selling and purchasing Chase money orders.
- Since a money order is a piece of paper, it can be lost or stolen.
- You can not sell or buy it online; you must visit the branch.
- There may be a delay in payments if you will not cash it from the bank it issued.
- It isn’t easy to track the money order that has been cashed.
Frequently Ask Questions
If you have any queries regarding the Chase Money Order, you can read this section of our article.
What Does A Money Order Look Like?
Money Order is a physical mode of payment. It is a paper with the name of the issuing institution, the front paper mentioning serial numbers and fields for filling requirements. The back of the money order is primarily empty for the recipient’s signature.
Who Signs At The Back Of The Money Order?
The recipient will sign with their name on the back of the Money order.
Can You Buy A Money Order With A Credit Card?
Chase Bank offers its customers to buy money orders with credit cards if they are account holders of Chase Bank. But the customers have to pay a higher interest rate more significant than the money order fee.
Does Chase Cash The Money Order?
The policy for cashing money orders is different from branch to branch. Chase usually cashes the money orders in the name of the customers of its branch, and there will be no fee and cash limit for them.
However, by cashing the money order from the other branch or you are not an account holder in Chase, you have to pay some additional fee for cashing the money order.
Can I Put A Money Order In My Chase Account?
Generally, you can put money in your account through an ATM and mobile app, but if you want to put the money order in your account directly, you can do it with a check.
You will get the money directly when you attach a check with a money order and deposit it in your account.
How Does Chase Money Order Works?
Money Order can not bounce like a check because you have purchased it from the bank. On purchasing, you have to pay a fee.
If you are a Chase bank customer, you have to pay a cost of $0- $5 depending upon the account you have in the Chase account.
When You Deposit A Money Order, Is It Available Immediately?
It depends upon the bank from where you are purchasing the money order. It also relies on the amount of Money ordered. Most of the money order deposits are at the same time on the issuance date.
Our Summary
Chase Bank money orders are ready to accept and easily convertible in cash; this transfer mode is majorly used by customers who do not have a checking account.
People in business mostly use it for the payment of their small debt, or it can be used for personal payments like paying money orders if you have received any service from any institute.
You have to pay a fee for purchasing a money order and fulfill all the requirements to get your money order.
There are some limitations regarding the amount and time the payees have to cash a money order. The purchaser can stop the money order anytime, so it’s a secure way of payment.
