Cash Checks Without A Bank Account | The Best Options!
Even with the popularity of credit cards, debit cards, and even PayPal, the financial world still very much relies upon the exchange of checks as part of its basic operations. These financial instruments have been around in various forms for centuries. Essentially, it is a document that orders prompt payment to the payee in the amount shown on the check's face.
Things You Need to Know
While many people these days get paid from their employers via direct deposit into their bank accounts, millions of others still receive a check in the mail. And, checks are used by millions of householders to pay for goods and services.
This presents a problem, however, for anybody who receives a regular check but who does not have a checking account of their own. If you want to learn how to cash checks without a bank account, here are options to consider.
See if Your Employer Has an Arrangement With Their Bank to Allow You to Cash Checks
Your employer may have a special arrangement with their primary bank of record whereby an employee is allowed to cash employer-issued checks there - even if that employee does not bank at that location. There is sometimes a small fee involved, however, and these banks will usually not allow you to cash checks issued by other parties.
Visit the Bank Where the Check Was Drawn on
If you visit the bank from which the check was drawn on i.e., the bank whose name is on the face of the check, in most cases that bank should honor the check and give you the funds due on the spot. You should expect to pay a fee in this case.
Go to a Check Cashing Store
This is probably the least desirable option because it involves paying the largest fee. Still, this may be used as a last resort. Be sure to read the fine print before agreeing to allow them to cash it and use the services in 7-11 check cashing hours, however.
Long term, your best bet for cashing checks may be to get your own checking account. If you have had trouble in the past qualifying for a checking account of your own, consider visiting a second chance checking bank.
These banks make it their policy to accept virtually any prospective checking account customer, regardless of your credit history. Find out how anybody can qualify for a checking account at Checking Accounts For Everybody.