Cashing a check without a check bank account can be done in various ways. If you receive a paycheck or a personal check from a family or friend, and yet you do not have an existing deposit check bank account, here are the options on how to convert your check into instant cash.
Where to Cash Checks?
There are many financial institutions which offer services to exchange your checks into bills even if you do not have a bank account. These are the following check-cashing services that you can approach:
- banks - You can go to any branch of the bank where the check was drawn from. It would be easier and faster to turn your check into cash if you call them first and inquire the requirements needed. If you have the check but is not a bank account holder, they will ask you to secure at least two valid identification. You can either use your driver's license, work ID, credit card with picture, and the like. The bank might collect a fee from you. It can be a flat rate or the percentage of the check's amount.
- check cashing stores - In cases when a branch of the bank where the check is issued does not exist in your area or does not even have an affiliate bank, a check cashing store or payday loan centers are the answers to your need. These companies do not require their customers a check bank account to get the money cashed. Service fees are absolutely involved and are higher compared to banks. You can can different cashing centers in your place and inquire how much is the service cost. Go for the one that charges you the least. Mostly, they calculate fees by percentage basing the total amount that appeared on the check.
- groceries, shopping stores and gas stations - Many grocery stores and gas stations have available cashing services. The service charge incurred for the transaction is higher compared to banks or payday loan centers, but you are guaranteed of the convenience and on-the-spot money. Some big shopping stores like Walmart provides the same cashing assistance with only a maximum fee of $3. If you have a payroll or a government check, you do not need to show a check bank account to get it cashed. All you need to present to any of the store's register is the check, a valid ID and your social security number.
- friends or family members - A friend or relative is another option to get cash in hand from your check. Some banks allow checks from a non-member to be deposited to their member's account. In this case, your personal presence is obliged during the processing. You will be required to present IDs and may need to fill up forms. Doing this prevents them from any bank check fraud. You can wait until your check is cleared to claim the money, or you may wish to ask your friend to give you the cash in advance in circumstances where money is badly needed.