UPDATE: It’s been confirmed that Walmart has in fact increased money order fees at most locations to $0.88.
Before I dive in, I want to point out that literally no one else on this planet cares about the possibility of Walmart increasing their money order fee to $0.88. Yet people in this community are getting out their calculators and figuring out what a $0.13 cent difference would mean for their manufactured spending costs (guilty). Does it make a difference? Not unless you’re spending millions of dollars on Walmart money orders every year. In other words, this only affects me. 😉 In all seriousness, there’s one thing everyone seems to be overlooking: Not all Walmart stores charge the same fee for money orders, so chance are not everyone will be affected by this change, if it is indeed implemented.
I came across this story on Twitter via @deppilf, who shared a tweet from Doctor of Credit. Apparently there’s a rumor that Walmart stores will increase money orders to $0.88, starting Thursday.
Walmart MO fee going up to $0.88
— Doctor Of Credit (@Drofcredit) February 28, 2018
It’s unclear whether this is a regional change, but I don’t think it’s likely that Walmart would impose a flat $0.88 fee on money orders at all their stores. After all, Walmart money order fees typically range from $0.25 – $0.75 depending on the store and region. I’ve been to Super Centers that charge $0.25 and Neighborhood Markets that charge $0.70 per $1,000. The most common fee is $0.55. These fees are location-based and I doubt Walmart would increase all fees to $0.88.
My guess is that this money order fee increase, if it does indeed happen, will be regional. And only at Neighborhood Market locations. Otherwise, it would be pretty ridiculous for some stores to go from charging $0.25 to $0.75 to $0.88. That being said, I’m sure most of you are wondering whether an increase as low as $0.13 would substantially increase manufactured spending costs for those who churn hundreds of thousands of dollars worth of Visa gift cards every year. The answer? Not really. Even on a $100,000 monthly gift card churn, a $0.13 cent money order fee increase would translate to just $13.
If you’re still concerned about a $13 increase for that Japan airlines business class award, there are plenty of ways you can reduce that fee. For starters, iBotta lets you upload one “Any Item” receipt from Walmart everyday. The payout is just $0.25 but it takes literally 10 seconds to do. Get a significant other to download the app and you’ll generate enough cash back every month to off-set that extra $13 liquidation fee on $100,000 worth of Visa gift cards. There are lots of other ways to off-set manufactured spending fees, but I’m using iBotta as an example of how easily this money order fee increase could be off-set.
I’ll update this post if I find out more about this. Meanwhile, if you hear anything please share it in the comment section.
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