Can You Purchase a Money Order with a Credit Card?
It’s easy to find yourself in a situation where you need to purchase something without cash on hand – perhaps you need to send money overseas, or you’re traveling and don’t want to carry around a wad of bills. Thankfully, there are non-cash options available, including using your credit card. But can you actually make the transaction? Find out in this article if it’s possible!
What is a Money Order?
A money order is an official, negotiable instrument that pays the bearer an agreed upon sum of money in exchange for goods or services. Money orders are generally given in lieu of conventional currency when purchasing goods or services in some countries. A credit card can be used to make payments towards a money order with the potential to save on money-transfer fees (typically, 5% of the total amount).
How are Money Orders Used?
Money Orders are used when the cash in your bank account is not enough to cover what you need. This includes paying bills, requesting a loan, buying a house, or meeting an unexpected expense. Money orders can be purchased from any branch of a bank and they are often used as a last resort.
Can You Purchase a Money Order with a Credit Card?
No, Money Orders can’t be purchased with credit cards. The money order is a paper bill that’s thrown into the mail in the form of an official submission like any other like a check or cash card.
What Are the Fees of Purchasing a Money Order with a Credit Card?
To purchase a money order, you must have a bank account or PayPal account that can hold the funds. The fees associated with purchasing your money order through your credit card are typically around 3% of the original cost of the money order.
Conclusion
While there are many scams on the Internet, it is difficult to find one that actually works. This blog post is meant to educate its readers about the truth behind some of these scams. It is not possible to purchase a money order with a credit card because this practice would be illegal if it were.