Tuesday, September 16, 2014

Buy Money Orders at Post Office with Debit Card (Paypal Debit Card)

Buying Money Orders with a Debit Card at the Post Office

I have known for a while that you can buy money orders from the post office with a debit card.  Unfortunately, Visa and Mastercard gift cards don't work at the post office even though they are sometimes considered debit cards.  For the most part, Debit cards aren't usually too valuable since they don't usually have cashback or miles associated with them that can offset the fees.

Enter the Paypal Debit Card. 

For the last couple of months I've been experimenting with the Paypal Debit Card as a way of creating Manufactured Spend.  When combined with the Old American Express Blue and American Express Serve, the Paypal Debit Card can be a very powerful tool.  See More at The Power Trio

The great part about the Paypal Debit Card is that it is a permanent debit card and has all of the functionality of a debit card including your name on the card.  The Paypal Debit card does work at the post office.

Keep in mind that Paypal may and probably will shut me down eventually.

Fee Structure

Fees - There is a $1.65 fee for a $1,000 money order.  The fee comes to 0.165%, which is not too bad.  You can also get up to $50 in cash at the same time with no fees.

I don't know the exact limits on this yet, but it seems as though when you try to buy $3,000 worth of money orders at one time there is Patriot Act paperwork that needs to be filled out so keep it at $2,000 a visit.