USD INR ₹ 83.39
GBP INR ₹ 103.88
CAD INR ₹ 60.67

A Guide to Money Orders 2022

Updated on July 21, 2022 01:53 pm
blank check with fountain pen

Money orders may seem out of date in a world full of digital payment options. Online money transfers, mobile money transfer apps, and contactless debit and credit cards are all options for sending and receiving money nowadays.

Nevertheless, they continue to fill a crucial demand that other kinds of payment cannot easily fill. In some circumstances, they are advantageous and necessary.

In this article, we take a closer look at money orders. It covers everything you need to know about them, including what they are, where to buy them, how they work, how to send an international money order, how much they cost, how safe they are, and more.

What Is a Money Order?

Similar to a check, a money order is a piece of paper that is used to make payments and send money domestically and internationally. It can be delivered by hand or sent through the mail. They are convenient, affordable, and widely accepted. 

Are Money Orders Safe?

The recipient's name and the name of the financial institution issuing the money order must both appear on the document. It must be signed by both the payer and the payee to be valid. 

Money orders are safer than cash because it is difficult for someone other than the payee to cash them due to the information on them.

If they are lost or stolen, you can cancel and replace them. Just be sure to save your receipt so you can track it later and get your money back if it is lost or stolen.

Money orders cannot be returned for lack of funds because they are prepaid, unlike checks that can bounce. Therefore, the money will be guaranteed if the recipient attempts to cash one.

They are among the safest methods for sending money. a more secure option than cash or sometimes even personal checks.

How Does a Money Order Work?

When purchasing a money order, the amount written on it must be prepaid with the issuer's charge, and a form must be completed and returned to the issuer. Only the selected recipient may then be paid using the money order.

You can pay for it using cash or a debit card, or a traveler's check, although some providers will allow you to pay with a credit card. 

For individuals who prefer not to submit their personal information through the mail, money orders are another option.

Where Can I Get a Money Order?

Several places sell money orders. These include

  • Post offices such as the United States Postal Service 
  • Banks
  • Credit Union
  • Retail stores
  • Pharmacies
  • Grocery stores
  • Supermarkets
  • Check-cashing stores
  • Pay-day loan stores

You can buy international money orders from postal services, select banks, and remittance companies like Western Union and MoneyGram. They are accepted in a lot of places and can be converted into local money in many countries.

How Long Does International Money Order Take?

Depending on where the mail is being sent, it can take an international money order anything from a few days to a few weeks to arrive. Because there are several processes involved, it is not the fastest option for sending money overseas.

You can create your money order in no more than a few minutes. The issuer will take a few minutes to process your request and give you the money order after you complete the form and pay for it. 

However, after you have placed and paid for your money order, it will take longer to physically send it to your recipient before they can get the payment.

What Is the Money Order Limit With International Money Orders?

The maximum sending limits for money orders are relatively small. For instance, the United States Postal Service (USPS) has a transfer cap of $700 for international money orders and permits the sending of multiple orders up to a cap of $10000.

Money orders tend to have a very low maximum sending limits. For example, USPS has a transfer limit of $700 for international money orders and allows the sending of multiple orders up to a maximum limit of $10000. Within the U.S., you can send up to $1000. 

International money orders might not be ideal if you intend to send significant sums of money abroad.

Pros and Cons of International Money Order

Convenience: You don't even need to have a bank account. You can pay with cash, a debit card, or a traveler's check Expensive: A money order must be purchased for a cost, and frequently there are recipient fees as well. Sending money abroad using international money orders is generally expensive. 

Safer than cash. You can have them replaced if they are lost or stolen, so you won't have to worry about money being stolen.


Both the payer and payee of an international money order must sign the money order, which is added security.

Poor exchange rates: With money orders, you often get poor exchange rates, which may limit the amount of money your recipient can get.
The funds are guaranteed. A money order won't bounce because it has already been paid for. So, Slow: International money orders have to be mailed to the recipient, which might delay delivery depending on the countries involved and makes them slower than online transfers.













Do Money Orders Expire?

The answer is no; money orders do not expire. But confirm with the issuer. 

There could be restrictions on some providers. According to Western Union, depending on the state of purchase, a non-refundable service charge will be subtracted from the principal amount by the terms and conditions of the money order if you do not use or cash the money order within 1 to 3 years of the purchase date.

How to Send an International Money Order?

A money order can be mailed the same way a check would. Add postage, place the money order in an envelope, and write the recipient's address as well as your return address on the front. Alternatively, you can give the money order in person.

Imagine you choose to use USPS to mail an international money order. Make sure the recipient's country accepts money orders before sending one. Only 27 nations accept USPS money orders. The list can be found here. Therefore, it is still in your best interest to find out if the country to which you are sending it accepts them.

Know that money orders have certain limits; for instance, the USPS has a purchase limit of $700 for international money orders.

Your bank and other international money transfer providers like Western Union and MoneyGram are other places where you can buy international money orders. Find a service provider that is both affordable and convenient by doing some research.

Next is to gather all the information: the payee's name and address, how much you are sending, and your personal information.

Here are the steps to take you through the process:

  • Fill out the form
  • Sign the money order where it says "purchaser's signature" to make it cashable by the recipient. 
  • Pay the dollar value of the money order plus the issuing fee 
  • Pay for the order with either cash, debit card, or traveler's check. 
  • Mail it to an address where they want to receive it. 
  • Keep your receipt to track the money order.

How to Fill Out a Money Order?

Fill in the blanks on the money order with the following specific information:

  • Name of payee/recipient
  • Address of payee
  • Date of purchase 
  • Amount to be paid
  • Your name and address 
  • Reason for payment
  • Your signature 

Follow the steps on how to fill out a money order: 

  • On the line that begins with "Pay to" or "Pay to the Order Of," provide the name of the individual or business that will receive the international money order. Do this first so that no one else can find the money order and cash it if you misplace it. Because the recipient's name cannot be changed after the money order is ordered, be sure you have the right spelling.
  • In the "From" or "purchaser" field as well as the address field, enter your information.
  • Fill in the reason for payment
  • Sign on the front of the money order. You should not sign the back because the recipient must sign there to cash it.
  • Keep the receipt. If the money order is lost, destroyed, or needs to be replaced for any other reason, you will need to track it down.

How Much Is a Money Order?

Although the cost of international money orders varies, they often cost more than $10. 

For instance, a USPS international money order has a $49.65 issuing cost as well as a country-specific processing fee.

The recipient can be charged a fee when cashing or depositing the money orders in their country.

However, if you want to send a large sum of money, you can buy additional money orders with a $700 value. Accordingly, it would cost more than $100 in money order fees to mail money orders worth $7,000 through the USPS.

Additionally, there is a currency conversion cost when sending money abroad. This will apply when the recipient cashes the money order or deposits it in their local account. 

Again, the exchange rate margin depends on many variables, such as the service you use, the nation to which you are sending money, the currency pairs, and the mode of payment, to name a few. 

Compared to other options on the market for international money transfers, international money orders have bigger exchange rate margins, meaning you get less money for your dollars. 

USPS Fees are based on the money order dollar amount.

Dollar Amount Fee
$0.01 to $500$1.65
$500.01 to $1,000$2.20
Postal Military Money Orders$0.55
International money order (up to $700)Varies. Issuing fee is $49.65, the processing fee is based on the country.

Can You Buy a Money Order With a Credit Card?

Some service providers let you buy money orders with credit cards. There can be an additional charge for you as it is treated as a cash advance by the credit card issuers. USPS doesn't allow you to purchase money orders with credit cards.

How and Where Can I Cash a Money Order?

Cashing a money order goes pretty much the same way as cashing a check. A money order can be cashed or deposited into a bank account.

You can cash a money order at your bank, the issuer, cash-checking businesses, and many retail establishments, but there can be a cost, depending on where you cash a money order

A USPS money order can be freely cashed at a post office. Alternatively, you can cash it for free at the issuing institution and deposit it without paying any fees into your bank account.

Rural mail carriers may be able to cash money orders while they are out on their routes if they have enough cash on hand. 

Money orders can be canceled, so it's crucial to cash and deposit them as quickly as you can, especially if you don't know the person or entity that gave the money order.

Here is how to cash a money order:

  • You will need to provide a government-issued photo ID when cashing the money order
  • Do not sign the money order before you are ready to cash or deposit.
  • You have to sign it in front of the teller or retail associate.

How to Track Money Orders?

To track your money order online through the issuer's website, you will need the following information.

  • Serial number (available on the receipt you got from the issuer)
  • Dollar amount 
  • Issuing location (e.g., Post Office number)

You will know from the money order tracking information if the money order has been cashed or not. You can cancel it if it has not been cashed. 

How to Avoid Money Order Scams?

Many people fall victim to money order scams often. 

In many of these scams, the victim will frequently get a phony money order for a large sum of money along with a demand for a portion of the money back.

When the victim learns that the money order is fake, they may have already wired funds to the con scammer.

Because of this, it's important to carefully examine the money order before accepting it. 

There are several key things to look at to spot a fake one. Each money order has specific marks and designs to prevent fraud and can help you identify the fake one. 

For instance, real USPS money orders feature the watermark of Benjamin Franklin repeated from top to bottom on the left side (see circle 1 in the image below), and to the right of that watermark, a vertical multicolored thread with the letter "USPS" weaves in and out of the paper (circle 2).

The dollar value in circle 3 on the image may have been removed if it is discolored, which would indicate fraud.  

The dollar amount should be printed twice (circle 4 on the image). The dollar value should not exceed the transfer limits. 

Domestic money orders are limited to $1,000, while foreign money orders are limited to $700 ($500 for El Salvador or Guyana).

If you suspect fraud, you can call the U.S. Postal Inspection Service at 1-877-876-2455. Or in case you suspect a fake money order, you can call the Money Order Verification System at 1-866-456-7822. 

Source: USPS

Money Order vs. Cashier's Check

Though they are similar in many ways, they differ in many ways.

Money Order Cashier's Check 
Do not require a bank account to buy a money orderNeed to have a bank account at the issuing bank to order the check.
There is a limit on the amount. No limit
Many Places Can only get it at financial institutions.
The money order can't bounce.Can bounce due to insufficient funds in the bank account.
The "Pay to" line is blank. So can be filled in with any person, and the payee can cash it. The receiver's name is filled out by the bank, so can be cashed only by that person.
Less expensive-Ideal for smaller payments.More expensive-Ideal for large payments.
Issued at a grocery store or check-cashing business.Considered safer or more credible than a money order as it is backed by the bank that issued it.
Easier to replace and cancel if they are stolen or lost.You must request a new check from the bank.

Bottom Line

Money orders are a popular and affordable form of payment. Money orders are still used for numerous transactions despite some of their shortcomings. 

There are many ways to send money abroad if money orders are not your preferred method of payment. This includes wire bank transfers and using international money transfer companies. Find the choice that is best for you by doing some research and taking into account the ease, speed, costs, exchange rate, offers, and discounts when picking the best deal on your transfers.

Rate article:
Money Transfer FAQ's
Related Articles
Money from India to UK
Best Way For An NRI to Repatriate Money From India to UK

 When it comes to repatriating large sums of money from India, it puts every NRI in a situation where he has to consider different obligations regarding monetary cross-transfer. Taxation, reliability and transfer timelines are a few things that influence these decisions.Personal finances have to be dealt with delicately and ensured that there is no loss during the due process of remittances. There are various options available in the marketplace today, be it via traditional banking or the modern ways of online transfers.CompareRemit offers a platform that allows you to compare different players in the market and pick the best rates that suit your needs.Repatriation from an NRE AccountAs a component of the liberalization scheme of the Reserve Bank of India, remitting funds from India has become relatively easier. Balances in NRE (Non-Resident External) accounts are freely repatriable. No formalities or requisite permissions are required for remittances abroad be it any amount. Funds in accounts are usually funds deposited from abroad or current income like interest or dividends on investments made through foreign funds.Repatriation from an NRO accountBalances in NRO (Non-Resident Ordinary) accounts are subject to certain conditions. The remittance of USD 1 million per financial year from NRO accounts is allowed subject to certain procedural formalities. NRO account balances include income earned locally or certain capital account transactions. Form 15-CA and 15-CB need to be submitted before a remittance can go through.Read more on difference between NRE and NRO account on CompareRemit.The Traditional Option - BanksThe most sought after choice for remittances to the UK are banks. Banks are the most popular means of transferring money to the UK because:There is a high level of trust owing to the various government regulations.Familiarity and the comfort of knowing the neighborhood-friendly banker.There are two ways one could remit funds using banking services:Online - If your bank has given you access to internet banking and allows repatriation through online instructions.In-Person - One could walk into the bank yourself and have the formalities completed there and then and have the satisfaction of seeing it to its destination with a receipt in your hand.However, it is important to note that INR to GBP/GBP to INR exchange rates may not always be competitive. The transfer fees can be high and the charges, not always transparent.Selection of Remittance Service ProviderShould you want to avoid remitting through banks, approaching a marketplace of money changers would be the next best option. A selection of remittance service providers should be made based on the following:- Transfer chargesSpeed of transferExchange ratesCharges on the conversion of currency (INR to GBP)Freeze option on exchange rate while process requirements are completedFlexibility of payment optionsAlternative Options for Remittance from India to UKWise - UK based transfer service supporters - Wise incorporates credit cards/debit cards, SWIFT, international transfers to bank accounts, domestic wire transfers and more. Wise offers competitive exchange rates for pound to rupee or rupee to pound conversions. It assures fast and low-cost online money transfers from India to the UK.ExTravelMoney - One of the easiest services for transferring funds from India to the UK, they also offer the facility of booking orders online.Western Union - In four easy steps available online and your money is sent from India to the UK. They offer competitive rates and faster transfers as well.Thomas Cook - Provides the best foreign exchange rates besides giving the assurance of secure and timely remittances for specific purposes.BookMyForex - With zero commission and zero charges, they claim to send money from India to the UK at guaranteed lowest exchange rates. The time span for the transfers to be effective is 12 to 48 hours.To select the right money transfer service one should keep the cost and time factors in mind. Convenience at a reasonable cost should be the mantra for selecting a suitable remittance service provider.

Sending Money To Nepal: eSewa International Money Transfer Service

Growth in digital remittances can be a game-changer in international remittances, mainly in terms of reducing the cost of global money transfer, increasing accessibility, and being more customer-centric. In the case of Nepal, which is one of the highest recipients of remittances in the world, youth are leading the mobile and digital revolution in the country. 50% of the users of eSewa, Nepal's most prominent digital wallet, are between the age of 18 to 30 years. With eSewa, users can make various payments such as pay utility bills, pay internal bills, recharge phones, book airline, and bus tickets, scan and pay to merchants, make a bank transfer (from eSewa to a bank account), and so on. There are also cashback and reward points upon registration. Established in the year 2019, eSewa Money Transfer is affiliated with F1Soft Group. With 15 million users (almost half of the country's population), F1Soft has been the leading fintech company in Nepal since 2004. eSewa is licensed by Nepal Rastra Bank under foreign exchange regulation, so it is a safe and highly regulated mode of money transfer. It offers traditional brick-and-mortar and agent-based remittance services along with the non-traditional digital modes of remittance.Money Transfer Services from the U.S. to Nepal with eSewa eSewa is partnered with various leading money transfer companies such as MoneyGram, WorldRemit, Remitly, Skrill Money Transfer, TerraPay, WireBarley, enabling customers from the U.S. to send money to friends and family in Nepal directly into the recipient's bank account or eSewa wallet.The account deposit service is available in more than 65 banks in Nepal. With more than 4.2 million registered eSewa wallet users, the addition of remittance service to eSewa wallet will provide a boost in remittance inflow to Nepal.Remittances to Nepal constitute a major portion of the country's foreign exchange reserve, surpassing both the official development assistance and the total foreign direct investment. In 2019, Nepali migrant workers sent home $8.64 billion which constituted 25.4% of the country's GDP. Sending Large Amount of Money from the U.S. to NepalThe U.S. to Nepal money transfer corridor is a thriving one, with many money transfer operators competing for business. Here are the top 5 money transfer service providers from the U.S. to Nepal.XoomPayPal-owned Xoom, a leading digital money transfer provider is one of the fastest, secure and convenient ways to send money from the U.S. to Nepal. The Xoom mobile app or website allows users in the U.S. to send money in an instant to friends and family in Nepal using their U.S. bank account, debit card, or credit card. Xoom has partnered with major banks in Nepal - Everest Bank Ltd., Nabil Bank, Himalayan Bank, Nepal SBI Bank, and others offering instant bank deposits. The money can be transferred to a bank account or picked up from an agent location (from over 4000 cash pickup locations) in Nepal. The maximum transfer amount is $9,000 per transfer when using Xoom transfer. The transfer fee varies depending on the method. Bank transfers are usually free of cost. Fees for payments by card are percentage-based.Do keep in mind that a margin is added to the exchange rate when converting U.S. dollars (USD) into Nepalese rupees (NPR).Wise (formerly known as TransferWise)Wise (Ex-TransferWise) is a London-based financial technology company regulated by (Financial Conduct Authority) FCA in the UK. For online money transfers from the U.S. to Nepal, Wise is a secure, fast, and low-cost option. There are no hidden charges, no marked-up exchange rate. Wise gives you the interbank exchange rate for your transfers. You can pay by direct debit, bank transfer, debit card, or credit card. Bank debit or ACH is the cheapest followed by bank transfer. While payment via credit cards has more fees. Depending on the transfers, the money can be reached in one day or even within seconds. There are limits to how much you can send to Nepal. For larger transfers, Wise might ask you to provide your ID card. To initiate the transfer process, sign up online or in Wise's app for free.WorldRemitWith WorldRemit, Nepalese immigrants in the U.S. can send money online to recipients in Nepal. The money can be received via cash pickup, bank deposits, mobile money, and even airtime top-up.The cask can be pick-up from thousands of Samsara, NIC Asia, and Citizen Bank locations within minutes. The bank transfer may take 1 business day.You can send up to $5,000 per transfer with bank transfer and up to NPR 300,000 with the cash pick-up option. A maximum amount of NPR 1,000,000 can be sent in a day. The transfer fee will depend on the transfer amount. WorldRemit adds a margin to the exchange rate.Muncha Money TransferMuncha money transfer lets you send money to Nepal from all the 50 states in the U.S. It is a preferred choice for many NRN (Non-resident Nepalese) as an online payment gateway. Muncha Money Money Transfer and ThamelRemit are popular ways of sending money.An individual with a U.S. bank account can transfer money to the recipient's bank account in Nepal. It takes about 48 hours to complete the transfer. It is licensed by Nepal Rastra Bank, so your money is safe and protected. It offers ACH transfer and can send up to $10,000 per transaction from the U.S. to Nepal. The first transaction is free for all customers.ThamelRemitThamelRemit is an online money transfer platform for sending money from the U.S. to Nepal. It is trusted by more than 50,000 Nepalese in the U.S.The platform is supported by Siddhartha Bank Ltd., one of the fast-emerging banks in Nepal, and is powered by MachNet.The transfer is carried out via ACH where money is directly debited in USD from your bank account in the U.S. and transferred to the recipient's bank account in Nepal in NPR. There is no charge or bank processing fee within Kathmandu Valley.Outside Kathmandu Valley, there may be a bank processing fee that is deducted from the recipient's bank account as per the particular bank's rules and regulations.  The exchange rates offered are highly competitive and fees are affordable. You can send up to $10,000 per transaction and get the money deposited into the destination account in 48 hours.TakeawayThanks to the increasing number of users of digital payment platforms like eSewa and others, the cashless transaction is becoming a reality in Nepal.The above list is not an exhaustive list of all the services available to send money from the U.S. to Nepal. It can be difficult to choose one from a plethora of options. Before you make the transfer, compare the money transfer service providers to get the best value for your money while sending money from the U.S. to Nepal.Nepalese living abroad prefer to send remittances directly through mobile banking, internet banking, or digital wallet. It offers ease of use, convenience, lower cost, and a competitive marketplace of the money transfer industry that gives better service and better exchange rates.

hands holding up payday sign
Everything You Need to Know About Paycard

How do you pay your employees? As an employer, paying your employees is an important part of your business. Direct deposit to your employee's bank account or issuing paper checks are two of the most common ways of compensating them. Gone are the days when employees used to get paid in cash.But what happens when some employees have no bank accounts? This is where paycards come in. Paycards for employees are an alternative option when the employees do not own a bank account, and the employers do not want to pay in hard cash.It is estimated that about 5.4% of U.S. households (approximately 7.1 million) were "unbanked" in 2019, according to the U.S. Federal Deposit Insurance Corporation (FDCI). An unbanked household means no one in the household had a checking or savings account at a bank or a credit union.For small businesses with employees with no bank accounts, paycards can be a convenient option as a payment option.Direct deposit and paycards both offer the benefit of a paperless payroll distribution process and allow the employer to electronically transfer funds conveniently. While direct deposit is the norm for many businesses, paycards are gaining popularity each year.There are pros and cons of using paycards, and in this blog, we will discuss if paycards are right for your business and employees.What is a Paycard?Paycard is a lot like a prepaid debit card as it is made of plastic and can be pre-loaded. In the case of a paycard, the money loaded comes from the employer in the form of an employee's pay. The card carries the issuer name such as MasterCard, Visa, or Discover.Are Paycards Good, and Who is it For?A pay card can be used to pay an employee who does not have a bank account. Paycard holders or employees can cash out from paycards at a bank, ATM, or other point-of-service locations.Employees can also pay bills over the phone using their paycard number or authorize electronic bill payments to specified companies.Employees can use paycards at any merchant, grocery store, retail shop, or gas station that accepts debit cards.Do Paycards Have Fees?By law, employees must be able to access their wages in full without any fees. They can obtain the cash at a bank teller, ATMs associated with the card issuer, pay bills by telephone, or use the card for point-of-sale purchases.However, there may be fees for electronic fund transfers or for cash withdrawals at ATMs that are not in the issuer's network. There may be fees for card replacements, balance inquiries, inactivity fees, or other reasons. The Consumer Financial Protection Bureau issued a rule in April 2019 that paycard issuers must disclose all the fees to cardholders.Employees must be informed of the potential fees. The paycard issuer is required to give you disclosures on such fees before you sign up for a paycard or a payroll card.Also, paycards are regulated by state laws, so you might have to check for additional details depending on your state. Some states are making efforts to reduce fees that affect employees.As you can see, paycards fees mostly affect employees. In the case of direct deposits, employers are the ones who have to pay fees for setting up the payroll distribution system and a transaction fee for each time they transfer wages into an employee's account. The payroll software may also charge a fee for their service.Can Employers Save Money When Using Paycards?Since paycards are reloadable cards, employers can have the banks reload the paycards with their employees' wages for the pay period, avoiding the costs and hassle of issuing paper checks, mailing them, or re-issuing lost checks. The savings may not be a substantial amount but they can add up gradually.Can Employers Choose between Direct Deposit and Paycards?While there is no mandate that employers can only offer either direct deposit or paycards to their employees for their wages, it is safe to check with your state's law on payroll distribution.One-third of states allow employers to require employees to have bank accounts for direct deposit. In such a case, paycards may not be needed. Also, there is no law preventing employees with bank accounts to opt for paycards as their payment option.Though generally, employees tend to prefer direct deposit because of its efficiency and the least costly method of payment, as a business owner or an employer, it is better to give options instead of imposing only one method.Ask your employees about their preferred method of payment and what benefits (convenience, low fees, etc.) serve them the best.In fact, Federal law requires employers to offer alternative payment methods like paper checks or direct deposits.Should Employer Provide Pay Stub?Pay stub provides details of the employees' pay for each pay period. Employers are not required by federal law to give employees their pay stubs. However, many states have laws that require some form of written pay statement.Even if your state doesn't need you to provide pay stubs, you are still required by the Fair Labour Standards Act to keep track of your employees' working hours.For employees, a pay stub gives a record of their wages, deductions, contributions, and other information. It is also proof of income or employment, which is often needed when applying for a loan, credit card, or housing.For employers, a pay stub is useful for tax purposes, and it can be used to resolve any discrepancies with employee pay.Is it Possible for Paycards to be Overdrafted?Usually, paycards works like debit card, allowing cardholders to withdraw up to the limit of the loaded amount. However, there are paycard that allows overdraft for employees. But it can come with hefty overdraft fees if employees use funds over the limit in their account. Usually, you should be able to prevent misuse by subscribing to an overdraft protection service.Will Paycard Affect Credit Score?Paycards, like all prepaid cards, do not affect an employee's credit score.What is a Paycard Gets Lost or Stolen?A replacement card can be issued in such cases. The employee needs to notify the employer, and then the employer should immediately notify the card issuer. The employee is not liable for the incident as long as the issue is timely reported. Paycards come with similar protection as that of a prepaid card.The reporting time is determined by the card issuer. If you wait longer to report after learning of the loss and theft, the fraudulent charges may increase. You may have to pay a fee for the replacement card.Pros and Cons of PaycardsProsA win-win situation for unbanked employees and their employers.Green alternative to paper checks.Immediate payment to employees.No hassle of cashing a paycheck.No monthly or maintenance fees.Added security when assessing their funds (paycards require a PIN).Employees can report to the issuer if funds are used unauthorized.Paycards can be reloaded during each payday, saving money on issuing paper checks.Added efficiency for the employer as the employer would not have to physically present or mail paychecks to unbanked employees.ConsEmployees may incur fees for several reasons. Be aware of such potential fees.Employers have certain responsibilities to educate employees about the usage of paycards.Limited range of services and flexibility in managing your funds compared to bank accounts and other prepaid cards.The best paycards programs are easy to set up, have lower fees, quick access to funds, and provide a range of benefits such as cashback and discounts. We have made a list of popular paycards providers for businesses:Wisely Paycard by ADPOnline portal and mobile appCompatible with Apple Pay, Samsung Pay, and Google PayZero cost sign upNo hidden feesNo credit checkNo overdraft feeZero cost direct deposit of pay and other sources of income (including government benefits)Accepted wherever Visa is acceptedKeep track of spending and account balances 24/7 on the appGet cash back at major retailersSurcharge-free ATM withdrawalsFDIC insuredSecurity features include instant card lock, purchase protection, and travel alert notificationsRapid PaycardDirect Deposit onto rapid paycardLoad funds from approved checks with Ingo Money mobile appsNo fee for cashing paycheck24/7 account access with rapid! Access mobile appNo credit checkCan be used at ATMs, merchants worldwide, wherever Debit Mastercard or Visa debit cards are acceptedPay bills and make purchasesBook airline and hotel reservations onlineEarn interest on savings accountGet cash back rewardsFDIC insuredMoney protected with Zero Fraud LiabilityKittrell PaycardNo fees to use (there are fees for certain situations)Fee-free ATM network with MoneyPassWebsite and Kittreall AppGet real-time alerts and push notificationsCash back at point-of-sale terminals2-way texting to manage your card and accountCompatible with Apple Wallet, Google Pay, Samsung PayEasy portability (Get direct deposit of stimulus checks, tax refund, benefits)Freeze or unfreeze card on-demandSkylight PaycardZero sign up feeNo credit checkNo minimum balance Personalized your card with a family photo or unique imageManage money anywhere on Mobile AppDirect deposit your government benefits, tax refundsUse anywhere where Visa Debit & Debit Mastercard are acceptedFDIC insuredZero liability protectionPay bills onlineEarn interest on savings accountEarn cash back with Payback RewardsSend money to or receive money from friends and family with Netspend cardsSet text alerts about transactionsRefer a friend and boost your card balanceSkylight overdraft limit is $100 & 3 times/ monthConclusionOverall, paycards can be convenient and cost-effective for employees and employees when compared to paychecks or for those employees with no bank account. And the paycard fees are becoming more transparent and competitive.While paycards can be challenging at times, especially when you are employed in multiple jobs and have a separate paycard with each employer, your funds are scattered in multiple cards so it becomes difficult to manage your finances. Some may prefer to put all their money in one place, like a checking account.However, if you can't open a bank account, a paycard is a great option to get paid. Read the fine prints before signing up for a paycard and know the potential fees that come with it.

Download the CompareRemit App
Download the CompareRemit App
Personalize your CompareRemit experience with your preferred corridor and receive target exchange rate notifications, seamless transitions to partner apps, and real-time comparisons of top remittance providers at your fingertips.
Personalize your CompareRemit experience with your preferred corridor and receive target exchange rate notifications, seamless transitions to partner apps, and real-time comparisons of top remittance providers at your fingertips.

Get Listed or Advertise

Download Our Free App

Try our faster, enhanced mobile app for a better experience

CompareRemit App