If you need to cash a check and you have a bank account, you likely don't give it a second thought – you just head to a branch or ATM. But though most of America uses a bank or credit union, the most recent survey by the Federal Deposit Insurance Corp., in 2019, found that more than 5% of U.S. households – about 7.1 million – are "unbanked," meaning no one in the home has a checking or savings account. Show
That's a lot of people who may need an affordable option when it comes to check cashing. Maybe they got a check from a job or for selling something. In any case, no one wants to hand over a chunk of your money just to get at funds that belong to you. Here are some reasonable options for cashing a check if you don't have a bank account:
Go to the Check-Issuing BankThough some banks may cash checks for noncustomers, others will not do so. However, if you go to the bank that issued the check, you likely just need valid ID to cash the check. After all, that's its own check. Still, you may have to pay for the privilege because you're not a customer. Here are some examples: If you don't have an account, Bank of America will charge an $8 fee to cash its own checks. Wells Fargo charges $7.50. At Citibank, there is no charge. You probably don't live far from a Walmart, and the big retailer cashes checks relatively cheaply – certainly for less than some major banks. "My advice for cashing a check when you don't have a bank is to go to Walmart. Their system is simple. You'll pay up to $4 for all printed checks up to $1,000 and up to $8 for all printed checks" of more than $1,000, says J.R. Duren, terms editor at The Balance. "The fees are very reasonable for any check amount and much better than check-cashers who may charge a percentage plus a fee." Walmart also will cash two-party personal checks up to $200 for a maximum fee of $6. Some supermarket chains will cash payroll checks and government checks but not personal checks. Consider a Prepaid Debit CardWith this option, you can get a debit card that enables you to deposit your check directly – likely by mobile check deposit – onto the card without needing to open an account with a bank. Then you should be able to get cash from an ATM by using the card. But be mindful of potential drawbacks that include not having immediate access to the funds and possible fees. Bluebird by American Express is one of the better options. Bluebird doesn't charge many fees. You use mobile check deposit to put the funds onto your card. However, the money from your check isn't available for 10 days; if you want the cash right away, Bluebird charges 1% (for payroll or government checks) or 5% (all other checks). On the other hand, Netspend may charge a monthly fee, such as $5.95 or $9.95, and will hit you with an ATM fee, usually $2.50 per withdrawal. Netspend doesn't charge for mobile check deposit. As with Bluebird, you must wait 10 days for funds availability, and you will pay extra to get expedited access to your check funds – 2% or 5%. Look at Check-Cashing StoresCheck-cashing stores can get you your cash right away, but be wary of their fees. Some of them may charge no more than the other options listed above, but they might charge fees of up to 10%. One issue is that stores generally don't list fees on their websites and may not reveal them to you until you show up with your check. Whatever you decide, as with every consumer spending decision, it is best to shop around to find the best price. If you frequently use alternative methods of cashing checks, you should research locations nearby for the cheapest fees, so you'll know where to go whenever you're in need of check cashing. Adam Marlowe, chief information officer at Powerco Federal Credit Union in Georgia, suggests inquiring about options available with a local credit union. "Many offer free accounts as well as second-chance accounts for consumers with challenging credit histories," he says. Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Cashing a check is easier than ever these days, whether or not you have a bank account. You can usually cash a check at your own bank or the bank where the check was issued, even if you’re not a customer. But can you cash a check at any bank? The short answer: It depends. There’s no law preventing banks or financial institutions from cashing checks for noncustomers, but they’re also not obligated to do so. And if there are significant fees involved, it may not be worth the convenience. Here’s a look at where you can cash a check. Where Can I Cash A Check?Banks and credit unions are the most obvious places to cash checks. But other places will do this for you too. Some of those places include:
Can I Cash a Check at Any Bank?Not every bank will cash a check from a noncustomer, but many do. You’ll have the best luck visiting the bank the check was issued from. Other banks may still agree to cash your check, as long as they can verify the account holder has enough funds to cover the check amount. It might be helpful if a family member or friend has an account there and goes with you. While many banks will cash checks if you don’t have an account with them, restrictions and fees may apply. For example, the financial institution may charge a flat fee or a percentage of the check value, and there may be a limit on the value you can cash. Depending on the size of the check, you may want to consider going somewhere without fees and restrictions. How To Cash a CheckCashing a check is fairly simple. Follow these steps for the smoothest transaction:
How To Cash a Check OnlineIf you want cash in hand, you’ll likely need to cash the check in person. But if you just need access to the funds, you can cash a check in a variety of ways—including online. If you have a bank account, your institution may offer mobile check deposit. This service allows you to deposit the funds into your account by uploading photos of the front and back of the check on your bank or credit union’s mobile app. Another easy way to cash a check online is to load the funds onto a prepaid debit card, which you can then use like a regular debit card to purchase items or withdraw cash from an ATM. Check for fees, which vary with every prepaid card and ATM. You can also deposit your check into a PayPal account, although you’ll need a PayPal Balance account first. Here are some additional check-cashing apps to consider:
Find The Best Online Banks Of 2022Bottom LineYou might not be able to cash a check at any bank, but you can cash one at most banks and credit unions. And there are plenty of other options available as well, including check-cashing stores and certain grocery stores, convenience stores, gas stations and large national retailers. Just remember to call ahead or check online to find out what’s required, look for restrictions and ask about any fees involved so you can make the best decision for your personal check-cashing needs. Frequently Asked Questions (FAQs)How long are checks good for?Most checks are valid for 180 days. While some checks have “void after 90 days” printed on them, most banks will accept them for up to six months after the issue date. That said, it’s best to cash a check as soon as possible. Do I need to have a checking account to cash my check?No, you don’t need a checking account to cash your check. Many banks allow noncustomers to cash checks. Where else can I cash checks other than banks?Certain retailers, convenience stores, grocery stores, check-cashing businesses and some mobile apps linked to prepaid cards can cash checks for you. Do I need to have a driver’s license to cash a check?No, you don’t need a driver’s license to cash a check, but you do need a valid government ID. This can include a driver’s license, permanent resident card (also known as a green card), military ID card, passport, state-issued ID card or a tribal ID card from your tribe’s enrollment department. How can I cash a check without a bank account or a valid ID?If you have a friend or family member with a bank account, you can sign the check over to them and ask them to cash it for you. Can you cash a check at a bank if not a member?There is no federal law or regulation that requires banks to cash checks for non-customers. Most banks have policies that allow check cashing services only for account holders. If a bank agrees to cash a check for a non-customer, it may legally charge a fee.
What banks will cash a check without an account?Still, you may have to pay for the privilege because you're not a customer. Here are some examples: If you don't have an account, Bank of America will charge an $8 fee to cash its own checks. Wells Fargo charges $7.50. At Citibank, there is no charge.
Can you cash a check at Chase if you're not a member?If you are a Chase account holder, you can easily cash checks, provided you have enough money in your account to cover the amount of the check. If you're a non-customer, you can only cash checks that are drawn on a Chase account, and you'll need to pay an $8 fee and bring one or more forms of ID with you.
Does Bank of America cash checks for non15, if non-customers try to cash a personal check at the bank written by a BofA account holder, the check casher will have to pay an $8 fee. The fee applies to personal checks for $50 or more and matches an $8 fee that already applies to non-customers cashing BofA business checks. Why, you might ask?
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Will banks cash checks if you re not a member
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