I just found out last week that Canada Post
will stop issuing U.S. dollar denominated postal money orders and stop cashing USPS issued money orders on August 30, 2019. At the same time USPS will stop cashing Canada Post
money orders. Canada Post
began selling moneygrams on June 10, 2019. It is a money transfer company which has its headquarters based in Dallas, Texas, USA.
Once again, Canada Post
claims that this is an "affordable solution." A $499.99 U.S. denominated money order cost was $7.50. Moneygrams up to $500.00 U.S. will cost $10.00. Yea, that sure is more affordable? For who?
edit: I am referring to US money orders and not worldwide.
The moneygram with the "simplified fee structure will help customers anticipate their cost to send a moneygram anywhere in the world." "This affordable solution will set us apart from the competition and drive customers to our post offices."
I don't think so.
Obviously affordable for persons with the xtra funds. Of couse you could always use Moneygram online. Maximum 990 cdn about 730.00 U.S. Cost is $5.00 if paying with debit card, $15.00 for cash and $5.00 for credit card but with card fees and interest for cash advances. And don't forget, it is a money transfer service and payable in USA as cash only during normal work hours. Not cashable at the bank. But maybe that is simplified too much to understand.
I guess in the end they dream of ways to increase their bottom lines by getting costs and expenses down, but in the end they lose sight of the fact that they are charging more for less and driving buisness away and that they will not get back. Gee you don't even have to pay for a postage stamp to send a moneygram online.
What were they thinking?