Cheapest Way to Cash a Personal Check without a Bank Account

When you have a bank account and receive a check, it ’ randomness easy. You open up the app and snap some photos. If your trust doesn ’ metric ton have an app, you take it to the branch and hand it to a teller or use the ATM .
What if you ’ re one of the many millions of people who are “ unbanked ” – without a bank score ? The answer is trickier .
hera are the ways you cash a control, from cheapest to most expensive :
even if you have a trust account, you may need access to this cash immediately. When you deposit a bridle, it can take a couple of days before the funds are available, depending on who the type of check and who issued it. When you cash a check, you get the cash immediately.

Costco, BJ’s Wholesale, Sam’s Club

none of them cash checks !
One of my favorite stores is Costco and it turns out that Costco does not cash checks. The same holds true for their two wholesale cabaret competitors. BJ ’ S Wholesale Club and Sam ’ s Club do not cash checks either of any kind .
What is surprise is that they don ’ t cash business checks, payroll checks, or even government checks ( and obviously personal checks ). I thought they ’ d at least take politics checks as they are the safest, but nope !

The Issuing Bank or Credit Union

Go to the trust that issued the check – their information is on the match itself. They can verify the check ’ s legitimacy, whether funds are available, and will give you cash for a fee. The fee varies from bank to deposit .
This is the cheapest option, particularly for non-official checks. In some cases, it ’ s release ( sometimes only free if under a certain dollar sum ) .
For exercise, Bank of America charges a flat $ 6 tip to cash one of their checks. Capital One charges $ 0. M & T Bank will charges you 2 % of the determine sum with a $ 3 minimal. Call a local branch to find out their claim fee for your check mark .

Want to make extra cash taking surveys?

Join 6 million members who have made money taking easy and quick surveys on Survey Junkie. They pay in cash instantaneously via PayPal ( or Amazon gift cards ) and they have an angstrom rate from the Better Business Bureau .
Join for complimentary and make some extra cash

Wal-Mart (or Grocery Store)

Wal-mart offers in-store check cashing of Payroll checks, Government checks, Tax checks, Cashier ’ second Checks, Insurance settlement checks, 401 ( k ), retirement distribution checks, and MoneyGram money orders that were purchased at Walmart .
They may cash a bipartisan personal check up to $ 200 for a utmost $ 6 tip, but it ’ sulfur subject to local laws.

The fees are straightforward : $ 3 for checks of $ 1,000 or less and $ 6 for those above $ 1,000 and under $ 5,000 .
More details here .


If you have a 7-Eleven nearby and they have a Vcom check-cashing booth, you can cash a check there excessively. The Vcom check-cashing booth is an automatize touch-screen booth that can handle a variety show of fiscal tasks from cashing checks to paying bills .
You can find out more here .

Prepaid Debit Cards

If you are using a postpaid debit menu ( a.k.a. reloadable debit cards ), like Netspend ( see how you can get $ 20 from a referral to NetSpend ) or Bluebird by American Express, you may be able to deposit your match as a recharge .
To make the transaction, use their mobile app ( if they have one ) or go to a spouse location that lets you perform the recharge. If this is a payroll check, consider mastermind deposit reloads as a way to avoid the reload tip ( if you have a direct deposit, it may be worth getting a checking account ) .
Prepaid debit cards can get expensive, with transaction fees and activity fees, but if you use it wisely it can offer a bum way to cash checks .

Check Cashing Store

These will be the most expensive option but if you have a personal check and no local deposit, it might be the alone choice .
Cash promote, entitle loans, payday lend stores – they ’ re all names for the same type of equip. expensive short term loans with high fees and punitive interest rates. They besides cash checks .
Whereas Wal-Mart alone takes institutional checks, many of these places will take personal checks excessively. Some will require you get a credit check, since it amounts to a unretentive terminus loan, while others won ’ triiodothyronine. Call around to see what the policies and fees are.

A local anesthetic cash checking place in Maryland charges a two-dimensional 10 % fee to cash a personal check. They do the work of calling the issuing bank and confirming funds before they cash you out – sometimes you have to get their debit batting order besides. In this store ’ randomness summons, they need to talk to the person who wrote the check besides .
other places may charge a two-dimensional fee with a percentage on lead – like $ 5 per check plus 1 %, possibly with a minimum fee. Call to confirm the details .
Those are the few options you have for cashing a check – as you can see, some are better than others !

source :
Category : Finance

Related Posts

How to Calculate Credit Card Interest Rates

interest rates are one of the ways to work out how much it will cost you to use your credit card, along with other charges and fees….

What debt collectors can & cannot do

If you are dealing with a debt collector, you have protections under the law. A debt collector must not mislead, harass, coerce or act unconscionably towards you….

Can You Afford a New Home? How to Determine Your Homebuying Budget

Can You Afford a New Home? How to Determine Your Homebuying Budget As with any major purchase, determining what you can afford before you look for a…

Why Did My Credit Score Drop?

Why Did My Credit Score Go Down When Nothing Changed? sometimes your mark does change based on factors outside of your control, but most times your behavior…

Why Do I Owe Taxes To The IRS & How To Avoid Them

Are you wondering why you owe indeed much in taxes this year ? Want to make certain you never owe a big tax bill – or any…

The 5 reasons why your credit score might suddenly drop

Select ’ s editorial team works independently to review fiscal products and write articles we think our readers will find useful. We earn a perpetration from affiliate…