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Best Places to Cash a Check

By: Dannie Phan | April 16, 2020

Everyone loves payday. There is a universal sigh of relief when you get that check you've been waiting for. But often the chore of cashing it is, well, a chore. You dread the service fee or the trip to the bank. Waiting in a queue is never fun.


While many banks such as Chase and Bank of America offer free checking accounts once you add a recurring direct deposit, not all employees or jobs are able to set that up. There are many American households that do not have a bank account or have no choice but to live paycheck to paycheck with cash in hand.


Five Places to Cash Your Check for 2020

Whatever your situation, we want to help you to save money. We give you the lowdown on how you can cash your check conveniently and cost-effectively.


1. Cash the check at the issuing bank

Credit unions and banks are obliged to cash checks drawn on accounts at their financial institution. As a non-customer of the issuer's bank, you can expect to pay a fee to cash your check. Different banks have different rates, and you will probably be convinced to open an account. 


2. Ask your employer for a Payroll Debit Card

Rather than receiving a check, you can ask your employer if they access Payroll Debit Cards. You do not need a bank account to use this card, and it works similarly to a reloadable prepaid card. This method is environmentally friendly, as your business does not need to print a check for you. Plus there is the added bonus that you don't need to find a way to cash it. So while this is instead a tip on how to avoid cashing a check, it's a great idea. 

3. Visit an ATM and load your cash onto a Prepaid Card Account

Prepaid debit cards are an excellent option for people who do not have a checking account. You simply deposit your check at the Bank's ATM, and the funds reflect on your card. There is often a monthly service fee for the card, but cashing checks are sometimes free.


4. Take a photo

Okay, this sounds like a straightforward and convenient option but read up on hidden costs before choosing this method. There are many apps, such as Ingo Money, Deposit2Go, Dave, and more that allow you to photograph your check, upload it, and then direct the funds into a bank account, or online store of your choice. Paypal partners with Ingo Money so you can place your money into your Paypal account. 


5. Cash your check at a retail stores

This is a convenient option as you can cash your check while shopping for your groceries. Just remember to have the correct identification like a driver's license on hand when you visit these check-cashing stores. Kmart, 7-eleven, and Walmart are among the many that offer check-cashing services at a low fee. 


Best Option: Cash a Check at Walmart!

Statista names Walmart as "the largest retail corporation of discount department and warehouse stores in the world." Swagbucks earners have long since enjoyed savings, coupons, and discounts for Walmart stores. As a Swagbucks earner, you can also cash your checks when you shop at Walmart. 


What Checks Do They Accept?

Walmart will not cash personal checks. They will happily cash "payroll checks, government checks, tax refund checks, cashiers' checks, insurance settlement checks, and 401(k) or the retirement account disbursement checks". If it is a pre-printed check, then they can cash it. MoneyGram money orders that were initially purchased at Walmart can also be paid in the store.


How to Cash Your Check at Walmart

Present your endorsed check at one of the checkout lanes. Show your valid identification, pay the required flat fee, and accept your cash. Cash can also be loaded into Walmart store credit or onto your Walmart MasterCard.


The Cost to You

According to Walmart's website: "Check cashing fees are $4 for any checks up to $1,000. For checks between $1,001 and $5,000, the fee is $8. Two-Party Personal Checks are limited to $200 and have a max fee of $6." 


Their Cash Limits

The maximum limit for check cashing is as follows:

  • May-December: $5,000
  • January-April: $7,500, the limit is raised to accommodate tax refunds.

Promptly cashing a check is something that is appreciated by the person who has paid you. Most people live within a short distance to a Walmart and are likely to pass one on their way home. Cash your check timeously with Walmart and save money! And if there is a little wait, why not sign up to Swagbucks and complete surveys to make money in your spare time.



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