Currency Exchange Money Order Fees, Requirements, etc Explained

Currency Exchange Money Order Policy

While all Currency Exchange locations operated by the Community Currency Exchange Association sell store-branded money orders, there is a wide array of pricing structures, identification requirements, and amount limits from location to location. Similarly, all of the locations we spoke with cash money orders, but specific terms vary from store to store. To confirm this information, we contacted multiple Currency Exchange locations throughout the Chicago area.

Money Order Purchase Fees and Payment Options

While all Currency Exchange locations sell money orders, the fees they charge vary widely. Some charge varied fees based on whether you pay with debit or cash, while others charge fees based on the size of the money order, ranging anywhere from $1.25 to $10.

Most locations accept both cash and debit cards for money order purchases, but debit purchases usually cost significantly more. For example, while some locations offer a flat fee of 75 cents per money order for cash purchases, debit purchases require a percentage fee based on the total amount of the money order. (It varies from about 1.5% to 3.75%.) Some stores only accept cash, so it’s best to contact your local Currency Exchange to be sure of its policy.

Looking for lower or more consistent fees? See our list for more places where you can get a money order.

Money Order Purchase Requirements

Identification requirements also depend on which store you visit. Some locations told us that you never need to show your ID, while others require it for every transaction. Still others require ID for money orders higher than $1,000 and request further information for amounts greater than $3,000.

Money Order Purchase Limits

Currency Exchange locations maintain different standards on the maximum size of money order they will sell. Note that Federal regulations state that any money order for $3,000 or more requires the issuing institution to record your name, address, Social Security number or alien identification number, and birth date as well as the date of your purchase, the money order’s serial number, and the dollar amount.^[1]

Cashing a Money Order at Currency Exchange

All Currency Exchange locations we contacted cash money orders, though some will only cash money orders that originally came from other Currency Exchange stores. Others told us that they could cash money orders from any issuer as long as they can verify it.

All cashing transactions are subject to a verification process, though none of the representatives we spoke with were able to give specifics about how verification works. You’ll likely need to bring a photo ID (such as a driver’s license) and may need to provide your Social Security number if you haven’t cashed with Currency Exchange before.

It’s a good idea to contact your local Currency Exchange for all of its rules and requirements; as with buying money orders, these vary by location. For alternatives, see our list of places that cash money orders.