There’s some bad news coming out of Walmart. If you use money orders to unload your gift cards, then you should pay attention, especially if you do large volumes. Frequent Miler reports that cashiers are now being prompted to ask for ID during the checkout process on money order transactions in excess of $1,000. The ID number is entered a Walmart database. Sounds like the same technique used by CVS to enforce their gift card purchases limits. Furthermore, registers are hard-coded not to allow a customer to purchase more than $8,000 in money orders per 24 hours.
The limit is at least pretty high, but I’m sure it will still affect some people who do large volumes of money orders. They seem to have gone into effect on the 1st of November and have been rolled out nationwide.
This is bad news, but will not affect everyone. You can still do $8,000 in money orders a day for now. You will need to give out your ID if you’re transactions over $1K, but this is different from the Suspicious Activity Report that requires you to give your SSN.
Has anyone come across this new rule yet? Let me know in the comments!