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-   Manufactured Spending (https://www.flyertalk.com/forum/manufactured-spending-719/)
-   -   Cashing Money Orders at Walmart (https://www.flyertalk.com/forum/manufactured-spending/1751558-cashing-money-orders-walmart.html)

gruntermen Mar 7, 2016 8:58 pm
Cashing Money Orders at Walmart
 
I have noticed that there is plenty of discussion in this forum about buying money orders at walmart but very little discussion about cashing money orders at walmart. The only thread I have been able to find is this one. Walmart will cash a $1000 money order for $3. For me liquidating a $1000 dollars worth of gift cards for 0.37% ($0.70 for the money order plus $3.00 to cash the money order) sounds perfectly reasonable in order to meet a minimum spend. Am I missing something obvious?

CWAL Mar 7, 2016 9:08 pm
Why would you want to pay $3 to deal in cash? I'd pay to *not* deal in cash.

skitch23 Mar 7, 2016 9:10 pm
Originally Posted by gruntermen (Post 26300015)
I have noticed that there is plenty of discussion in this forum about buying money orders at walmart but very little discussion about cashing money orders at walmart. The only thread I have been able to find is this one. Walmart will cash a $1000 money order for $3. For me liquidating a $1000 dollars worth of gift cards for 0.37% ($0.70 for the money order plus $3.00 to cash the money order) sounds perfectly reasonable in order to meet a minimum spend. Am I missing something obvious?
Why are you going thru the extra step (and cost) of cashing a money order?

Chelski Mar 7, 2016 9:10 pm
It's best if you buy a Gebit at money center, open it, buy a MO, and then cash the MO right there. Saves a lot of time.

CWAL Mar 7, 2016 9:14 pm
Originally Posted by Chelski (Post 26300051)
It's best if you buy a Gebit at money center, open it, buy a MO, and then cash the MO right there. Saves a lot of time.
Stop spoiling my location! I finally found a grocery store that lets me buy a GC with an MO and then open the GC and buy an MO. INFINITE SCALABILITY!!!!1!11!!

gruntermen Mar 7, 2016 9:18 pm
Originally Posted by CWAL (Post 26300045)
Why would you want to pay $3 to deal in cash? I'd pay to *not* deal in cash.
Originally Posted by skitch23 (Post 26300050)
Why are you going thru the extra step (and cost) of cashing a money order?
I would prefer not to deal in cash but in reading through the threads on this forum I get the distinct impression that banks tend to be skittish about money order deposits. I don't want to mess up my relationship with my bank.

Chelski Mar 7, 2016 9:19 pm
Gruntermen go deposit $100k cash and report back to us

gruntermen Mar 7, 2016 9:20 pm
Originally Posted by Chelski (Post 26300051)
It's best if you buy a Gebit at money center, open it, buy a MO, and then cash the MO right there. Saves a lot of time.
Perhaps the folks at the money center will even let me borrow their scissors and pen so I can open up the gebit package and fill out the money order in front of them.

CWAL Mar 7, 2016 9:21 pm
Originally Posted by gruntermen (Post 26300071)
I would prefer not to deal in cash but in reading through the threads on this forum I get the distinct impression that banks tend to be skittish about money order deposits. I don't want to mess up my relationship with my bank.
Dollar for dollar, I would posit that cash will be much more likely to lead to AA than MOs.

CWAL Mar 7, 2016 9:22 pm
Originally Posted by gruntermen (Post 26300078)
Perhaps the folks at the money center will even let me borrow their scissors and pen so I can open up the gebit package and fill out the money order in front of them.
Christ man, you need scissors? If you still need scissors your volume couldn't possibly raise any flags. ;)

gruntermen Mar 7, 2016 9:29 pm
I am quickly getting the impression that for the amount of volume I am doing (the minimum spend on about two credit cards per month) I don't have to worry too much how I liquidate money orders.

rekehs Mar 7, 2016 9:38 pm
Originally Posted by gruntermen (Post 26300071)
I would prefer not to deal in cash but in reading through the threads on this forum I get the distinct impression that banks tend to be skittish about money order deposits. I don't want to mess up my relationship with my bank.
search Bank Secrecy Act.

lumangoy Mar 7, 2016 9:53 pm
I heard while buying MO at WM that no fee to cash WM issued MO.

so one could cash out from another location to avoid fee?

gruntermen Mar 7, 2016 10:11 pm
Originally Posted by lumangoy (Post 26300156)
I heard while buying MO at WM that no fee to cash WM issued MO.

so one could cash out from another location to avoid fee?
I think walmart will only cash a Walmart issued money order and for that they charge a three dollar fee.

CWAL Mar 7, 2016 10:32 pm
Originally Posted by gruntermen (Post 26300098)
I am quickly getting the impression that for the amount of volume I am doing (the minimum spend on about two credit cards per month) I don't have to worry too much how I liquidate money orders.
Correct


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