The United States Postal Service (USPS) has redesigned money orders to “enhance” security for sending money via mail.
Why It Matters
Money orders are used to safely and securely send money through the U.S. postal system. In 2021, the last year for which data is available, 71.5 million money orders were used across the country.
What To Know
A money order is a financial document similar to U.S. currency and is sold by USPS clerks. Customers can purchase money orders for a fee in varying amounts and redeem them at any post office.
The newly designed legacy postal money order will feature a new bank routing number and is red, white and blue in color. It also includes an image of a Pony Express rider and the words “United States Postal Service” in a rectangular box.
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A security thread runs from the top to the bottom of the money order, just to the right of the Pony Express Rider watermark. When held to the light, the thread reveals the letters “USPS” alternating right side up and upside down throughout the thread.
It will also include a QR code that will direct users to the USPS website.
USPS said the move will “enhance already strong security features to further deter counterfeiting and other fraudulent activities.”
The single domestic money order maximum is $1,000 if sending within the U.S., and $700 if sending abroad. If you need to send more money, you can buy multiple money orders, but if your daily total of purchased money orders is $3,000 or more, you will need to complete a Funds Transaction Report (FTR) and show an acceptable form of ID.
How much it will cost to send money orders will not change. To send up to $500, the fee remains $2.35, and up to $1,000 will cost $3.40 per item.
What People Are Saying
USPS said in a release issued on January 22: “The public can rest assured that USPS money orders are among the most secure financial instruments in the world.
“It will be phased into public circulation and will eventually be available at all Post Office locations.”
What Happens Next
The newly designed money orders are expected to go on sale in February, USPS said. The current, or “legacy,” postal money orders will still be sold until stock is depleted. A time limit for when the legacy orders will no longer be accepted has not been given. Newsweek has contacted USPS via email for clarification.
If you suspect you have been given a fake or altered money order or spot any other unusual activity regarding a money order, you should call the USPS Verification System at 1-866-459-7822 or Check Money Order Status via usps.com.