What are some places that cash personal checks?
Quick Answer
Places that cash personal checks include banks, check-cashing businesses, convenience stores and supermarket chains. The ideal place is either the bank of the recipient or the bank of the person who wrote the check (the bank where the money comes from). There will most likely be no fees charged if check recipients go to their own banks, but fees are likelier at the bank of the check writer.
Continue ReadingFull Answer
Possible fees aside, if a recipient goes to the bank listed on the check, it is more likely that the entire amount can be immediately available. This is because the bank has a direct connection to the account from which the money is withdrawn. If the bank charges a fee, it may try to get the recipient to open an account there in order to bypass the charge. When recipients go to their own banks, they may only have immediate access to part of the funds and may need to wait several days for the rest.
Check-cashing stores often charge fees that are a percentage of the check, and some may charge a fee in addition to a flat rate. Many big-name retailers offer check cashing, and their fees are usually lower than those at check-cashing stores.
Learn more about Personal BankingRelated Questions
-
Q:
What forms of payment can be used at Menards?
A: Menards stores accept cash, checks, credit and debit cards, and Menards gift cards as forms of payment. Rebates earned by shopping at Menards are also rede... Full Answer >Filed Under: -
Q:
What are Walmart's check cashing policies?
A: Walmart's check-cashing policy focuses on guidelines regarding what types of checks can be cashed, the maximum amount that the store is willing to cash and... Full Answer >Filed Under: -
Q:
What is personal check cashing?
A: Personal check cashing is a service provided by check-cashing stores and some retailers for people who do not have bank accounts. In addition, the bank tha... Full Answer >Filed Under: -
Q:
Where can you cash a two-party check?
A: A two-party check is cashed at the bank where it's from or at check-cashing stores. A two-party check is written to two individuals.... Full Answer >Filed Under:
