Modern technology may shape the way we perceive money savings and cashing today, but there is always something special when you cash personal check directly from a bank. While credit card services from PayPal or Venmo rising up in new fame, personal check cashing somewhat still find their ways to provide services in certain businesses. Instead of taking cash from ATM, several businesses or family affairs tend to opt to cash personal checks to maintain formality above all else.
The formality of a check cannot be denied even when we have passed through the age of paper and ink. In concept, the method of cashing checks bases the modern cash transaction, whether it be from credit or debit card. Instead of using a paper check for personal cashing, the modern cash transaction uses machines, like ATM or mobile phone apps, to deliver some cash. The only difference is the materials you use to cash the money.
Despite the rare sight of paper checks, particular businesses still use them to make transactions. A business matter which involves big cash of money often uses checks in a lot of their transactions. Not to mention that traditional families in an old town may still occasionally cash their personal checks.
For some workers, it is quite normal to get your payment via paper checks. The other time, people often rely on a bundle of paper checks to handle their bills. Aside from local residents, certain companies may cash some checks to finish up their important legal or business matters. Mail-in commissions and credit card cash-back returns are a couple of many things a company can proceed with a check. Once you get your hand on a check, you must always examine it.
- 1 What’s In A Personal Check
- 2 Policies Regarding Cashing A Personal Check
- 3 Where To Cash Your Personal Check
- 4 Cash Your Personal Check from Apps
- 5 Summary
What’s In A Personal Check
Cashing a personal check will only work if you write down all that needs to be written accordingly. In a way, it is similar to cashing a balance from your bank account via a bank teller. Basically, you have to bring your personal check to the nearest bank to get the cash. Write or type the information needed on a piece of a paper check along with the amount of cash you intend to draw.
Aside from getting cash from your account, you can also cash the check given by another person. All you have to do is bring the check to the cashing place and sign the back of the check. Cashing a given and personal check is easier than cashing one’s own. To prevent any kinds of inconvenience, you have to examine several parts and numbers on the paper check upon heading to the bank near you. If there’s an error in the information, be it misspelling or a scratch, the bank will not cash your check.
Before you make your way to cash your personal check, it’s better if you learn a thing or two about what’s in a personal check cashing. Below, there are things to be aware of when you wish to cash a check. See if this information below can help you navigate your way around the personal check cashing better.
Making sure you input valid information in a personal check has to be one and foremost priority above all else. You will have to write down the correct name that matches your legal ID. In any events you cannot cash your check in person, you can always ask for a family member to do it instead.
If your family member vouches for your check cashing process, you must have a joint bank account first. The person you assign for the task has to live under the same roof as you in order to make a joint account. After you provide valid information about your identity and your family member, or partner, or colleague, you will be able to proceed with your joint bank account.
Despite its seemingly stiff rule, the cashing process does not take a complicated process in fact. In case the check given to you does not include your full name, then the bank will still accept it. If the check has a part of your name or your nickname, then it will be good enough for the bank. Nonetheless, remember to always validate your data first before proceeding to cash the check on the bank.
Amount of Cash
There are two fields to input the amount of cash on a paper check. To get the check through, you will need to input a similar amount of cash on the two fields. There will be a field right to your name where the issuer writes down the amount of cash. If you wish to draw $50 with a check, then the issuer should write $50.00 on the field.
There is also another field below your name where you have to input the amount of cash you wish to draw. If you use a $50 check, then the field should have Fifty and 00/100 Dollars written on it.
Keep in mind that the signature of the check issuer is essential if you want to cash your personal check. The check issuer refers to the person who orders the check for you. Your check must include the issuer’s signature on the bottom right corner. With the issuer’s signature in place, the check will be validated and will be proceeded right away.
Specific Period of Time
Each place sets different rules regarding cashing a check. Commonly a check may only proceed if it has been ordered within 180 days. On the other hand, some places state that a check holds no validity unless you cash it within 180 days. Case in point, you must cash a check which is ordered on March 5th within 180 days time. In other words, the check will only be valid for about 6 month period from the issued date.
A strict rule in setting up the validity period sometimes does not solve all the problems. When it comes to handwritten checks, some errors regarding the issued date are bound to happen. Your employer may give you a payment check days before the issued date on the check. Therefore, you have no choice but to wait for the issued date to cash your payment check.
Policies Regarding Cashing A Personal Check
Aside from a written paper check, you must validate your identification before you get the cash. Commonly, the cashing places will ask you for an ID card to validate the identity on your check. Other places may need a valid recent picture in addition to the valid ID card.
Other than the common cashing process, several areas may have certain additional policies in regard to cashing checks. There will not be many changes in the regulations, but you can always prepare for whatever comes. Take a look at these few things and remember them whenever you intend to cash a personal check:
- No handwritten checks. While some places still accept them, it’s better if you provide a typed-written check instead of a handwritten one.
- Fees. Cashing a personal check does not come out in itself, therefore you have to pay for additional fees. Keep in mind that several banks and stores will charge you more fees compared to the other banks.
- Redeemable limit. You may cash your check only when the bank or the stores have not yet reached the daily limit.
While it may seem inconvenient, nothing will get in your way as long as you do everything accordingly. It also becomes especially easy when you have to cash checks from employers, government agencies, and tax refund. Since they are legal matters, banks or stores will immediately proceed your check. All you need to do is bring a photo ID card with you. After you agree to pay the administration fees, you will get your cash and go home happily.
Where To Cash Your Personal Check
If you never cash a personal check before, then it’s better to know where to cash your check. There are places which serve to cash a personal check. Despite it not being free, you can always get the cash in your hand one way or another. A check can only proceed if there’s a person on the desk to receive it. After all, paying administrative fees is the only thing you can do to respect the admin or the teller’s service.
A bank is obviously the first choice if you want to cash your checks. Since checks are issued from certain banks, you must know which kinds of banks you can go to cash your check. Certain banks may not allow you to cash your check since the policies prevent them. In case you are not sure whether certain bans can cash your check, then you can always ask for the bank teller or look up on their website. If the bank refutes your check, then you must try to cash it in another place near you.
Being the first and safest choice to cash your check, a bank does not always exist in certain areas. If you live far from the big city, then you may try to cash your check in other places. This option may very well help you in time you need some cash the most. Nothing will be as difficult in cashing your checks if you know where to look. Without further ado, let’s check on the list of places to cash your check below.
Local Bank or Credit Union
Always go to a local bank or credit union first before you move to another option. If you happen to have an account on the said bank, you will have more benefits. You will not have to pay for administrative fees if you have an account in the bank. If you have a bank account, you will easily get your cash.
Alternatively, you can cash your check in a credit union if you do not move around much. The local credit union generally requires you to pay lesser fees than banks. Credit unions will work on your behalf well if you do not have needs other than cashing your checks around your local areas.
Compared to banks, credit unions require a lower minimum balance term to avoid monthly checking charges. With only $5 as your minimum balance, you can still operate your cash through a credit union. There may be even credit unions which provide the cashing for free. Always look for the places to cash your check near you so you can get easy access. It is wise to consider creating a bank account in case the bank charges you with additional fees and more to come.
The Issuing Bank
Contrary to a local bank, the issuing bank will be able to cash your check even if you do not have a bank account. Among other places on the list, the issuing bank may be the most responsive one when it comes to cashing your checks. Aside from that, the issuing bank also sets the fees lower than any other banks or cashing places.
You can look at the name of the issuing bank on the bottom left corner of the check and right over the memo line. In order to cash your check, you need to go to the nearest issuing bank branch in your areas. If you get a hold of a check from certain issuing banks, you will need to find the local branch of the bank to proceed the cashing transaction. If the balance suffices the amount of the cash, then the bank will proceed the cash for you.
In order to cash your personal check in the issuing bank, you need to provide your ID to verify your identity. Keep in mind that if you are not the customer of the bank, you will have to pay for the administrative fees. It is common that banks will charge you with a non-customer fee. In order to prepare you for how much fees you should pay, you can always contact the bank or look up the information on the official site of the issuing bank.
The fees will be based on the balance you wish to draw. The bank will not charge you with any fees if you cash a balance under $50. On the other hand, the bank will charge you $7-$10 fees if you draw cash above $50. Generally, the banks will set your fees from 10% of the check balance. In other words, the fees will roughly be $7 per check. While some banks have different regulations regarding the fees, the general policy may set the standard.
Transact by 7-Eleven
Other than buying groceries, you can also cash your personal check at 7-Eleven. In order to do that, you have to install Transact by 7-Eleven app on your phone. You will simply take a picture of the check by using the app to proceed with the transaction.
Within 48 hours, the 7-Eleven app will proceed your check. When the process is done, your deposit will be transferred to 7-Eleven prepaid card. Afterward, you can get your cash from an ATM where it allows Debit MasterCard to proceed.
When you need to cash your check, always look for the nearest Walmart. In some areas, Walmart has flourished that even banks cannot stand a chance to it. In general, you can even get everything you need from this infamous store.
Additional fees are necessary when it comes to cashing checks everywhere. Per regulations, the fees will depend on the cash you wish to draw. A $1000 cash will require you a $4 fee. If you need to get some cash above $1000, you will need to pay an $8 fee. For more information, take a quick look at Walmart Check Cashing regarding the cashing services and the fees that come with it.
The daily limit for cashing checks in Walmart is $5,000. In any special events, especially Christman, the limit will go up to $7,500. In case you need to cash $200 from your personal check, you must look for another place to cash since Walmart cannot serve you according to the brand policies.
Walmart provides you with two options of cash checking. You can opt to get the cash in forms of money or a Walmart MoneyCard. The MoneyCard will be free of charges as you use it to make payment for select payroll companies and government checks.
What kind of checks does Walmart take? The list below will tell you which one of the checks this big market can proceed.
- Employees checks
- Cashiers’ checks
- Pre-printed checks
- MoneyGram money orders
- Insurance compensation checks
- Tax checks
- Government checks
- Retirement expense checks
- Joint account for personal checks, with a limit of $200
In the past, you can cash your personal check at gas stations. Nowadays, nearly every gas station no longer provides cashing personal checks services. It does not matter whether you have urgent needs to cash a check, almost all of the stations will not serve you because of the risk of check fraud. If you are in the middle of somewhere, you can always visit travel centers along the interstate.
Trust the cashing services to the infamous travel centers in the country. Pilot Flying J and TravelCenters of America will gladly cash your personal check when you have nowhere else to go. However, you need to be aware that not every travel center provides you with such a service. To avoid any misunderstandings, you may take a look at their official sites first and confirm the nearest travel center about the cashing service.
Local Grocery Store
Cash your personal check while doing a grocery store. It will take some time for the customer service to proceed with your check. Do keep in mind that a small store like this only limits its service on cash payroll checks, cashiers’ checks, and money orders. It is worth to remember that local stores only accept typed-written checks. The store will carefully avoid handwritten checks for the risk of check fraud.
To this day, four stores remain open to cashing services. Albertson’s, Safeway, Kmart, and Publix will gladly take your check and cash it for you. Some stores may charge the transaction for free, while the others may charge you with at least 2% of the balance or $6 per check.
Even so, some stores may not follow the same rule. You can get the cash for free without any fees if you opt to use credit instead of cash. This option may work if you happen to pay for some grocery store.
Endorsing a check to your friend can provide an efficient method of a transaction if you happen to have unfinished business with your pal. The way it works is quite simple. You need to look at the back of your check and write down “Pay to the order of Friend’s Name” on the top of the identity line. To finish it off, you must sign on the bottom part of the check.
It is important to note that each bank has different regulations regarding endorsement checks. In order to avoid any suspicions, you can attend the bank along with your friend. If the bank needs you to complete a form or verify your ID, you will be there at the ready. For more information, take a look at the requirements regarding endorsement checks or contact the bank before you head to the bank.
Cash Check Stores
Cashing stores may be your best bet if you cannot find any bank branches or Walmart near you. Every cashing store will provide you with cash services, including that of handwritten checks. While it is reliable and wildly convenient, the fees that come with it are also quite pricey. The cash check stores may be the one with the highest check cashing fees among the list we have made so far.
Another way you can go around with cash check stores is transferring your deposit to a debit card. If you choose to transfer your balance to their self-made debit card, you need to pay for its monthly maintenance fee. In addition to the maintenance, you have to also pay for a reload fee. Either way, do consider cashing your checks at the check stores as the last resort if you do not want to be charged with high fees.
Cash Your Personal Check from Apps
If you have no time to cash the check directly, you can simply use mobile apps to cash it. You can choose from several apps to cash your check. Select one of the apps from the list below to get your cashing app to work.
Nothing can beat Ingo Money when it comes to cashing app. You can cash almost every kind of checks with Ingo Money, including handwritten personal checks.
What you need to do is install the app first. To operate the app, you can cash your personal check by endorsing it. Once you get into the app, take a picture of the check’s front and back from the app. When the picture has proceeded, you must choose where to cash the money. Redeem your cash from a prepaid debit card, Amazon gift card, PayPal account, retail credit cards to pay an online bill, and MoneyGram cash pickup.
Certain options will transfer your deposit within a couple of minutes. If you choose to use the cash to pay a retail credit card, the payment will be done on the next business day. You can also split the deposit by using multiple redemption selections.
Per cashing regulations, you will be charged with fees for cashing a personal check. If you wish to draw cash under $100, you will be charged with a $5 fee. On the other hand, drawing cash above $100 will charge 5% of the balance. Pre-printed payroll and government checks will be charged with $5 fee to cash a personal check with the rate below $250. Cashing a balance of $250 will charge you with a 2% fee.
Ingo Money will help you transfer your deposit to a Chime Bank account. You get free ATM access if you have an account on Chime Bank. Your deposit will be sent two days earlier compared to what you get from a normal bank transaction.
Aside from providing payment processing, PayPal can also provide you a cashing service. In order to run this service, PayPal forms a partnership with First Century Bank and Ingo Money.
Similarly to the process of cashing on Ingo Money, you will have to make an endorsement of the check first. In order to do it, you have to take a picture of the front and back parts of the check. Once the check gets through, you will be advised to write “VOID” across the front of the check. Afterward, you must pay for the fee.
Ingo Money rules the fee for 1% for payroll and government checks with a pre-printed signature. The other checks will require fees with 5% ratio and a $5 minimum fee per check. Once the fees have been paid, your cash will be available. In case you want to avoid some fees, you may use PayPal funds and wait for 10 days to acquire the cash.
If you want to make this transaction, your balance must be at least $5 and at most $2,500. By meeting this requirement, you can cash various checks from $5,000 per day to $10,000 per month.
You may open your PayPal funds when the balance is ready. By using PayPal, you can transfer your deposit to another bank account in a one day time. Aside from transferring to another account, you may also transfer the balance to an admissible debit card or prepaid card within minutes. As an alternative option, you may transfer your balance to a PayPal Debit Card, which you can cash it later through an ATM machine.
A prepaid debit card from Green Dot will help you assist the balance transaction. Through this mobile check cashing app, you can access and navigate your check balance anywhere. If you use Green Dot, you can cash your personal check at Walmart as well as reload your prepaid Green Dot debit card. Aside from the cashing service, you may also transfer your checks through the Green Dot app.
If you intend to use Green Dot, you may have to consider a couple of regulations as follows:
- The daily limit for cash is $3,000
- $1 for the minimum balance
- No more than $2,500 for a single check balance
- No chasing your check for more than $5,000 within 30 days
If you intend to write someone a check, Green Dot will give a book of checks for you. You will not need to open an account anymore for the balance will be drawn from your debit card.
When it comes to managing your finances, NetSpend will help you out with its efficient cashing method. You will be provided with prepaid products that let you handle your money. Aside from financing products, NetSpend allows you to cash your personal check via the app too. In addition to the app, you can also head to a local NetSpend partner to cash your check as well. The balance will be drawn out from your prepaid debit card.
Cashing personal check may be old fashioned but it always manages to solve your business matter in a minute. There are varieties of options you can try to cash your personal checks. Remember that cashing your checks requires some fees in return. Find the nearest issuing bank to cash your personal check for free. If you cannot find any, then you must head to certain places to cash your personal check.