The easiest way for a person to cash a check is by going to his bank. For people without bank accounts, there are several other options, including check-cashing stores, going to the bank that issued the check, getting a prepaid debit card or visiting a retailer that offers check-cashing services.
Check-cashing stores are usually the most expensive option because they charge both a flat fee and a percentage of the check amount. The bank that issued the check can cash it, although some banks charge a fee for this.
Prepaid debit cards allow money to be loaded onto the card. Methods of loading money vary depending on the bank that issued the card, but checks typically can be deposited by ATM or through a smartphone application. Prepaid debit cards usually have a monthly fee.
Many retailers offer check-cashing services, including grocery stores, convenience stores, liquor stores and department stores. A membership card to the store is sometimes required. Stores charge a fee that varies by store, but retailers usually charge a smaller fee than check-cashing stores or banks. Hours vary for check-cashing locations, but some locations stay open 24 hours a day, seven days a week. When cashing a check, one or two forms of identification are required.