Introduction to Check Cashing
Cashing a check without a bank account might seem challenging, but several viable options are available. Whether you're unbanked by choice or circumstance, you can still access your funds conveniently.
Visit the Issuing Bank
One of the most straightforward methods is visiting the bank that issued the check. Most banks will cash their own checks for non-customers, though they may charge a small fee. Bring a valid government-issued photo ID and be prepared to provide a fingerprint.
Retail Stores
Many large retail chains offer check-cashing services at convenient locations with lower fees compared to check-cashing stores:
- Walmart: Cashes pre-printed checks up to $5,000 with fees starting at $4
- Kroger: Available at their Money Services counter
- 7-Eleven: Offers check cashing through their Transact platform
- Kmart: Free check cashing for Shop Your Way program members (limit $2,000 per check)
Check-Cashing Stores
Dedicated check-cashing businesses provide quick service but often charge higher fees:
- Money Mart
- Check 'n Go
- ACE Cash Express
- PLS Check Cashers
Warning: Always compare fees before using these services, as they can charge anywhere from 1% to 12% of the check amount.
Prepaid Debit Cards
Many prepaid cards allow mobile check deposits:
- Purchase a prepaid card (NetSpend, Green Dot, etc.)
- Download the associated mobile app
- Take photos of your check
- Wait for approval and funding
Fees and Processing Times
| Service Type | Typical Fee Range | Processing Time |
|---|---|---|
| Issuing Bank | $0-10 | Immediate |
| Retail Store | $3-6 | Immediate |
| Check Cashing Store | 1-12% | Immediate |
| Prepaid Card | 1-5% | 1-10 days |
| Mobile App | 1-5% | 1-10 days |
Mobile Payment Apps
Several apps now offer check cashing services:
- PayPal
- Ingo Money
- Brink's Money
- CheckDeposit
Steps:
- Open the app and navigate to the check deposit feature
- Take a photo of the front and back of the check
- Follow the app's instructions to complete the deposit
Sign It Over to Someone Else
Known as a "third-party check," you can endorse the check to a trusted friend or family member with a bank account:
- Sign the back of the check
- Write "Pay to the order of [Friend's Name]" below your signature
- Have your friend cash the check at their bank
Pros:
- No fees
- Quick access to funds
Cons:
- Requires trust
- Not all banks accept third-party checks
Tips for Safety and Savings
- Always verify fees before proceeding
- Bring proper identification
- Consider combining errands (like cashing checks at grocery stores)
- Keep your receipt
- Be wary of suspicious check-cashing locations
- Compare multiple options for the best rates
For more information on financial services for the unbanked, visit the Consumer Financial Protection Bureau.