Transitioning To Budgeting

« Back to Home

Cashing A Check When You Don't Have A Bank Account

Posted on

If you have a check to cash and you don't have a bank account, then you may be wondering how you can cash it. Luckily, there are a few different ways you can go about cashing your check and this article will introduce you to some of them.  

Retail stores

Many retail stores will cash checks for you. This can be a convenient option, especially if you already have some shopping to do in that store. You will need to provide one to two proofs of identification, depending on the store's requirements.

The retailer may have a maximum amount for the size of a check they can cash and the fees can vary greatly. In some retail stores, you will need to make a purchase in order to have them cash your check.

The issuing bank

While you normally have to have an account at a bank to cash a check there, this is not the case if the check was written from that bank. Therefore, if you have a branch near you, then you can go there to cash it. Since you aren't a customer of the bank, you may still need to pay a fee for the service.

In many instances, the bank will waive any fees if you agree to become a customer and open an account with them.

Use a relative's account

Another way to cash a check without a bank account is to have a friend or family member deposit the check into their account and give you the money out of it. There are many things to consider when going this route. The money deposited will look as if it belongs to the account holder and this can be a problem for some.

There may be a hold on the check in some cases, and this means the person will need to give you money out of their own funds. If the check happens to bounce then they will be out that money. You will need to endorse the check to them and may need to show ID to the bank teller to cash it in this manner.

Check cashing companies

A very simple way to cash a check without a bank account is to go to a check cashing company (like Advanced Cash & Check Cashing). Since this is one of the main services they provide, it tends to be one of the quickest methods, and you will be in and out in a manner of minutes. There will be a fee, and this can vary greatly depending on the place you choose to use. Some will charge a flat rate and others will charge you a percentage of the check.

When you are looking for a way to cash you check without a bank account, you want to make sure you go with the method that's the easiest for you ad that you feel the most secure with.