Top Places to Cash Checks: A Comprehensive Guide

Banks and Credit Unions

Pros:

• Security: Most secure option for check cashing
• Low Fees: Minimal or no fees for account holders
• Additional Services: Direct deposit and other banking services available

Cons:

• Limited Hours: Typically only open during standard business hours
• Account Requirement: Non-account holders may face higher fees or restrictions

Tip: Consider opening an account to save money on fees and access additional financial services.

Retail Stores

Popular Options:

• Walmart: Check cashing at MoneyCenter with competitive fees:
  • Pre-printed checks up to $1,000: $4 fee
  • Checks over $1,000: $8 fee
  • Maximum check amount: $5,000 ($7,500 during tax season)
• Kroger: Money Services
• Publix
• Food Lion
• Albertsons

Pros:

• Convenience: Extended hours and numerous locations
• No Account Needed: Services available without a bank account
• Competitive Fees: Often cheaper than check-cashing stores

Cons:

• Fees: Percentage-based fees on check amount
• Limits: Restrictions on maximum check amounts

Check Cashing Stores

Popular chains include:

1. Check 'n Go
2. ACE Cash Express
3. United Check Cashing

Pros:

• Quick Service: Specialized in check cashing
• Extended Hours: Often open late and weekends

Cons:

• High Fees: Usually 1-10% of check amount
• Reputation: Some stores known for predatory practices

Warning: Always compare fees before using check-cashing stores, as they can significantly reduce your check's value.

Mobile Check Cashing

Banking Apps:

• Chase
• Bank of America
• Wells Fargo
• Citibank

Alternative Apps:

• PayPal
• Ingo Money
• Netspend

Pros:

• Convenience: Cash checks from anywhere
• Speed: Quick access to funds available

Cons:

• Fees: Higher fees for instant access
• Technology Requirement: Needs smartphone and internet

Tips for Check Cashing

What to Bring:

• Valid government-issued photo ID
• Unsigned check
• Secondary ID (if required)

Best Practices:

1. Compare fees before choosing a service
2. Consider opening a bank account
3. Keep your receipt
4. Cash payroll checks promptly
5. Verify amounts before leaving

Security Considerations:

• Never pre-sign checks
• Be cautious of unusual fees
• Protect personal information
• Count money before leaving

For more information on check cashing services, visit the Federal Trade Commission website or consult with a financial advisor.