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The money order is a way of sending national and international money that is made from a post office. This is a method that has existed for decades in many countries, including in Spain, where it was introduced in 1909. Although today it may be seen by some as a somewhat outdated method, money orders are still a widely used option that has advantages such as its immediacy or avoiding the need for a bank account.
How to make a postal money order
When making a money order from a post office you can make use of various shipping options that will vary depending on whether the destination is national or international. Also, depending on the transfer, the money can be received at an office, in a bank account or at a traditional residential address. In the first case, the arrival of the money is practically immediate, while for the transfer to a bank account or sending it to a postal address, it can take between 3 and 5 days.
National money order
Thanks to the modernization of the banking sector and the appearance of apps and new technology companies, the money order is no longer what it used to be. This is still especially useful for those who want to send and receive small amounts of cash without going through a bank, with the advantage of being a very fast method. The national money order is available throughout the Spanish territory in addition to Andorra, and you will find the option of sending the money to a bank account or to another post office.
The limit for sending a money order is €2,499.99 and it is very likely that you will not be allowed to send more than one money order per recipient. But in addition to the limits, there is the inconvenience of approaching an office and having to stand in long queues to carry out your transactions. Furthermore, the price is not as good as it could be considering that many banks offer free national account-to-account transfers.
International money order
There are three options for sending an international money order with Correos: Eurogiro, IFS Money Order (Urgent International Postal Money Order) and Western Union. Choosing between the first two options will basically depend on the country of destination, since the Eurogiro includes various European countries such as Germany, France, Romania, among others, and also others outside this territory such as Morocco or Turkey. The list of the UPU or IFS money order is smaller, since it barely includes a dozen countries, mainly from Latin America, such as Chile, Colombia or Peru.
Western Union, the third option, allows shipments to almost any country immediately in cash, and for some countries also to bank accounts, by making use of its large network of branches around the world. In all cases, but especially in Western Union, you should carefully examine the exchange rate, the amount of one currency needed to buy another, since it is possible that instead of using the average exchange rate they apply a different exchange rate. overpriced compared to what the market marks. Checking can mean saving, since a bad exchange rate can mean that you receive considerably less money than you should.
What data is necessary?
To make a money order, you must fill in a form by hand in which you will be asked for the following information:
- The total amount of money to send
- The currency in which you want the money to arrive if you make an international transfer (in many cases they only allow the local currency)
- Your full name and home address
- You must bring your ID or a valid identity card with you
- The full name and address of your recipient
Make sure that the information you provide is correct and visible to avoid possible problems. Once the transfer has been made, they will give you a tracking number with which your beneficiary can go to their post office to collect the money sent.
Is it possible to make a money order online?
Being able to make an online money order with Correos to other countries from the comfort of the Internet would be an ideal option, but unfortunately Correos does not have any service for sending money orders. All procedures must be done in person at an office, which is a big obstacle if you want to make a quick turnaround without waiting or traveling.
Domestic money orders had been available for a few years but are currently only possible from a Post Office. While in the case of international transfers it was never possible, and in any case, if you want to send money abroad easily and without leaving home, you should use alternative platforms such as the Western Union or Wise website.
