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Money orders may not be the most innovative or technologically advanced payment method, but they can come in handy in many situations. An old school form of payment, money orders are a safer alternative to a regular check.

When a cash deposit of $10,000 or more is made, the bank or financial institution is required to file a form reporting this. This form reports any transaction or series of related transactions in which the total sum is $10,000 or more. So, two related cash deposits. You can easily add money in your Chime card at Walgreens. You can go to any nearest store and at counter you can add money to your chime card. You can also add money in your Chime card at. You can deposit cash in your Chime Spending Account at over 90,000 retail locations (like Walmart, Walgreens, and 7-Eleven) with our cash deposit partners. To find a cash deposit partner near you, go to the app, tap Move Money, select Deposit cash, and tap See locations near me. At the retail location, ask the cashier to make a deposit to your Chime Spending. Unlike other similar platforms like Cash App and Venmo, Chime deposits are FDIC-insured. With its partnerships with The Bancorp Bank and Strike Bank, N.A., Chime accounts have routing and account.

Chances are, you don’t use money orders all that often to pay for services or products; instead, you likely use cash, a credit card ordebit cardas your primary method of payment. But everyonce in a while, a scenario will come up in which you may need to use a money order, such as needing to send money internationally or deliver a payment without worrying about putting yourself in jeopardy offraudulent activity, or don’t want to risk a personal check bouncing.

Similar to paper checks, money orders are issued in the form of a paper document, and they are used when you want to pay for something. When you want to purchase a money order, you need to provide money upfront. And because of that, money orders ensure the receiver that they will get their payment. For example, if somebody gives you a money order worth $100, it’s as good as cash once you deposit it at your bank or take it to a financial institution to exchange it for money. In addition, instead of being backed by your personal bank account, like a check, a money order is backed up by an agency or large corporation. This makes it a more secure form of payment to the recipient.

When you purchase a money order, you pay the full amount upfront plus a small fee. After verifying that the amount is correct, you’ll need to fill in your name and contact information on the front of the money order, plus the name of the recipient and their contact information.

A memo line allows you to specify what the money order is for. You then sign the front as if it were a personal check. Be sure to keep your receipt in case you need proof of payment or want to track when the order is received.

Filling out a money order is pretty straightforward.

You’ll need to include the following basic information:

• Your name
• The name of the recipient
• Possibly your address and phone number. Pro tip: If you want to retain your privacy, ask if this information is necessary.
• There may be a memo area to fill in with notes
• You may need to sign it with your signature

Looking to cash a money order? Follow the steps below:

1. Find a location that cashes money orders

You can cash money orders at numerous locations. A few common places to cash a money order are banks, convenience stores, and credit unions.

2. Endorse your money order

Make sure you filled out your money order. Once you get to the location, sign the money order just like you would a check.

Chime Cash Deposit No Fee

3. Show a valid ID

In order to verify that you are authorized to cash the money order, you will need to identify yourself so make sure to bring a government-issued ID like a driver’s license or passport.

4. Pay fees (if applicable)

If you’re cashing your money order at your bank, you might not have to pay fees. Otherwise, be prepared to pay a fee.

5. You’re done!

Get your cash and make sure you place it securely with you.

You may want to use a money order in the following scenarios:

• The receiver of the funds doesn’t want to run the risk of getting a bounced check.
• The person issuing the payment may need to cancel payment. For instance, if you believe the money order was stolen, you can pull the plug on issuing the funds.
• You want to protect your privacy. Money orders don’t include bank account information.

You may want to use a money order in lieu of cash for the following reasons:

• You want a receipt as proof of having made a payment
• If you’re worried about losing the cash (either misplacing it or having it stolen)
• If you have to pay an ATM fee to withdraw cash

Money orders come in handy for a number of reasons. You can use them for the following scenarios:

Paying for rent

There are many benefits to paying your rent with money orders. The first is a paper trail. You receive a receipt attached to the money order as proof you’ve paid your rent. And, if you lose the money order, you can file a claim to get your money back. Some places also allow you to track your orders online, so you can see when your landlord receives the money order. This way you’ll ensure the money gets in your landlord’s hands. Plus, you have proof you sent payment on time. Lastly, money orders are immediately withdrawn from your account so you can purchase a money order and rest easy that you won’t overspend and not be able to pay your rent.

FYI: If you’re having trouble staying on top of rent and bills, see how Chime’s Get Paid Early feature can help you get your paycheck faster

Buying from an online seller

If the recipient doesn’t know you and wants a secure form of payment, he may ask for a money order. Think of in-person transactions, such as buying something on an online marketplace like Facebook Marketplace or LetGo. In this scenario, you may meet up with the seller to exchange goods for moola.

When it’s unsafe to send cash

Did you get wind of that postal worker who stole 6,000 greeting cards with cash, checks and gift cards? While she couldn’t cash those checks, she was privy to sensitive bank account information. And instead of sending cash, which could end up in the wrong hands, only the recipient can cash in on a money order. If you don’t have a safe place (away from home) to keep your money, then paying your monthly rent and utility bills via money orders are the way to go.

You can purchase and cash a money order from:

• The U.S. Postal Service. Every U.S. post office accepts debit cards as payment for money orders. You can find a post office near you using the USPS locator.
• Money transfer outlets, which include places like Western Union or MoneyGram, as well as some convenience stores, drugstores, supermarkets and check-cashing outlets. Even some major retailers like Walmart may offer a counter where you can buy a money order.
• Banks and credit unions.

Money orders typically have a $1,000 limit. Plus, there’s a small fee. If you get one from the post office, for example, the fee is $1.20 for any amount up to $500, and $1.60 for amounts between $500 and $1,000. And, if you get a money order from CVS, there’s a 99 cent fee for a $500 limit. So, if you need more than $1,000, you’ll likely need to purchase multiple money orders.

• Fees can add up: If you’re using money orders regularly because you lack a checking account, fees will add up fast, especially if you have to make sizable payments that require multiple money orders.
• Target for scammers: Money orders are traditionally considered safe, but they can be used in fraud. In fact, the perception that they are safe is exactly what makes them perfect for scams, and they’re sometimes prohibited as a form of payment because of this risk. A money order theft may be as simple as someone intercepting the money order and attempting to put their own information over the recipient’s. Or a scammer may pay someone via a money order for more than the requested amount, then ask for the difference to be paid back. The money order turns out to be counterfeit, and the recipient is on the hook for it.
• Bank processing concerns: If you receive a money order as payment, the bank may place a hold on your account until the money order clears. This hold may last for two or three days. If you need access to money, your account is frozen.
• Not very convenient: Buying a money order requires extra steps for the purchaser. You often need to make a special trip, pay in person, and speak with someone during business hours, and pay a fee just to secure a money order. Compare that to the ease of writing a check, or using anonline banking service like Chime.

If you’ve decided a money order isn’t what you need, there are a number of options that might fit your situation better without resorting to cash. Some financial tools you can use to pay up without getting a money order include:

Cashier’s checks

Cashier’s checks are similar to money orders. They’re signed by a bank representative and drawn from a bank’s account after the funds are transferred from your own. Cashier’s checks are available for larger dollar amounts, as long as you have the necessary funds, so they’re a better choice for large payments.

Personal checks

Personal checks, while old-fashioned, are also a good alternative to money orders. Many billers and online sellers still accept personal checks, so you can use your checking account to pay bills and transfer funds. If you’ve been denied a checking account because of previous mismanagement, be sure to look intoChime’s second-chance bankingfeatures.

Wire transfers

A wire transfer is an electronic transfer of guaranteed funds and is a good alternative if you need to send money as quickly as possible. As with a cashier’s check, you’ll often need to visit your bank or a store in person. Wire transfers are more expensive(about $30 to $40in many cases) and more cumbersome, but they can’t be faked or canceled like money orders.

Electronic payments

Electronic payments of non-guaranteed funds are also an option. If you’re just paying bills, your bank’s online bill payment service can send funds almost anywhere—often for free. Online services and mobile appscan also send money at no charge.

Prepaid debit cards

If you don’t have a bank account, consider using aprepaid debit card. These cards offer the convenience of plastic, but instead of being attached to a credit account, you load them with your own cash, typically online or at a variety of retail locations. It’s important to keep in mind that many of these cards come with a range of fees, so a traditional debit card linked to a checking account may be a better option.

When you need a more secure alternative to sending cash but can’t use a check, money orders may be your best bet. Before purchasing or cashing a money order, keep the following in mind:

• Money orders are backed up by an agency or large corporation.
• You need to provide money upfront.
• Be prepared to pay a small fee.
• Know the name of the payee and the amount you want to send.
• Fill out the fields provided.
• Keep the receipt.

Are you familiar with mobile check deposits?

This means you can deposit checks without going to the bank. And, being able to deposit paper checks, such as a stimulus check, without going to the bank can make things super convenient.

Wondering how to deposit a check this way? If you’ve never used mobile check deposit before, it’s not as difficult as you might think. Take a look at 5 tips that can help you make the most of this feature – saving you valuable time.

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1. Check your bank’s mobile check deposit guidelines

The first thing you need to do is make sure the organization you’re banking with is set up for mobile check deposits. The easiest way to do that is to check your mobile banking app.

When you log into mobile banking, head to the menu and look for the mobile check deposit option. If you see it listed, then your app should allow you to deposit checks online.

Before you try to use mobile check deposit, however, make sure your account is enabled to do so. While the feature may be available in mobile banking, you may still have to register first or sign up.

2. Review mobile check deposit limits

If you know that you’re able to deposit a check through mobile banking, the next step is to determine whether there are any limits on deposits.

For example, some financial institutions impose limits on the number of checks you can deposit per day or per week. There may also be daily, weekly or monthly limits on the total dollar amount you can add to your bank account using mobile check deposit.

So, make sure you can deposit your check without going over those limits. For example, say you’re married with two kids and you received a federal stimulus check for $3,400. If your bank’s mobile check deposit limit is $5,000 per day, you should be able to deposit the entire check online.

You can usually find out about limits if you read your bank account’s terms and conditions. You can also check your online banking website and look for a section on frequently asked questions. Sometimes this is a good place to start.

What if your check is outside mobile check deposit limits? In this case, you’ll need to find a work-around for depositing it into your bank account. With online bank accounts, for instance, you may have to deposit the money to a checking account at a brick-and-mortar bank, and then move it into your other account via an ACH transfer.

3. Get your check ready for deposit

Depositing a check online isn’t exactly the same as depositing it at a branch or ATM. But you still have to sign the back of the check for the deposit to be valid. You also should make sure all the information on the front of the check is correct.

Chime Cash Deposit

Depending on your bank account, you may also have to write something extra on the back to denote that it’s a mobile deposit. For example, you may have to add “for mobile deposit” or “for remote deposit capture” below your signature.

Also, make sure the check is legible. Your mobile device needs to be able to “read” the check via the camera when you’re ready to deposit it.

4. Deposit your check via mobile banking

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Now you’re ready to deposit a check online!

The process can be different depending on your particular bank account. But generally, here’s what you need to do:

• Log into your mobile banking app
• Find the mobile check deposit option in the menu
• Select the account you want to deposit the check into (i.e. checking or savings)
• Enter the check amount
• Snap a photo of the check – front and back. It’s important to make sure you get a clear image of both sides of the check. Otherwise, you may have trouble completing a mobile check deposit. If the images come out fuzzy or blurry, clean off your camera lens. And, make sure you take photos in an area with good lighting so your camera can pick up details on your check.
• Once your device records the images of your check, review the deposit details. Make sure that you’ve signed the check, selected the right account, and entered the correct amount.

5. Wait for the check to clear

If you deposit a stimulus check – or any check – online, you may want to use the money right away. But, you’ll need to wait for the check to clear in your bank account first.

You may now wonder how long it takes for mobile check deposits to clear. Well, this depends on your bank account, the amount of check, and the type of check involved. Again, check your bank account terms and conditions or read through the FAQs. This might offer up some clarity on how long your mobile check deposit will take to be fully credited to your account.

In the meantime, don’t throw the check away. Why? Because there may be a hiccup with your mobile check deposit. If you don’t see the deposit in your account within a week, you may need to call your financial institution to find out what’s happening. You may also need to try making the deposit again.

Once your mobile check deposit clears your bank account, you can then write ‘void’ on the check and file it away.

How to deposit IRS checks with Mobile Check Deposit using Chime

If you are a Chime member and received a government stimulus payment as a paper check, you can deposit it safely and securely at Chime. We take our members’ money seriously, so for these checks, we’re putting extra security measures in place. Here’s how to deposit your IRS checks using our Mobile Check Deposit feature.

1.Make sure the name on the check matches your Chime Spending Account

2. For joint stimulus checks, make sure at least one filer’s name matches the name associated with the Chime Account. Unfortunately, we can’t accept checks that don’t have your name on it

3. Sign the back of your paper check, then write “For deposit to Chime only” under your signature.

For joint stimulus check make sure both of your signatures appear on the back of the check.

4. Open the Chime app, tap Move Money at the bottom of your screen, then tap Mobile Check Deposit, then U.S. Treasury.

Keep in mind: Mobile Check Deposit for stimulus checks is only available to members that actively use their Chime Spending Account and Chime Visa® Debit Card

5. The Chime app will guide you through the check deposit process – it’s easy!

Are you using a mobile banking app for check deposit yet?

Signing up for direct deposit can save you time, but mobile check deposit comes in super handy if you receive a paper check, like a tax refund or stimulus check.

Chime Cash Deposit Location

So, if you aren’t taking advantage of mobile check deposit yet, consider signing up. You’ll soon learn just how convenient it is!