Difference between revisions of "Cash a Check"
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#Cash the check as soon as you can. Some checks, like those that are paid by employers or are not personal checks, have an expiration date on them. But even if they do not have an expiration date, banks are not required to accept checks 6 months after the date they are written on, so you should cash them in a timely manner to make sure that you can get the money you deserve as quickly and easily as possible. | #Cash the check as soon as you can. Some checks, like those that are paid by employers or are not personal checks, have an expiration date on them. But even if they do not have an expiration date, banks are not required to accept checks 6 months after the date they are written on, so you should cash them in a timely manner to make sure that you can get the money you deserve as quickly and easily as possible. | ||
=== Cashing the Check at Your Bank === | === Cashing the Check at Your Bank === | ||
| − | #Cash your check with your bank teller. This is the easiest method to getting the money you have earned quickly and safely. Your bank will most likely need a verification of your account and your driver's license or an identification card of some sort, so be sure that you bring these necessary supplies with you when you visit the bank. Never sign the check before you arrive at the bank; instead, do it in front of the teller as you cash it for ultimate security.<ref>http://money.usnews.com/money/blogs/my-money/2012/09/28/how-to-cash-a-check-without-a-bank-account-</ref> | + | #Cash your check with your bank teller. This is the easiest method to getting the money you have earned quickly and safely. Your bank will most likely need a verification of your account and your driver's license or an identification card of some sort, so be sure that you bring these necessary supplies with you when you visit the bank. Never sign the check before you arrive at the bank; instead, do it in front of the teller as you cash it for ultimate security.<ref name="rf15688">http://money.usnews.com/money/blogs/my-money/2012/09/28/how-to-cash-a-check-without-a-bank-account-</ref> |
#Deposit your check at the ATM of your bank. This is another way to cash the check you've been given. Essentially, you'll be depositing the check into your bank account; it can take up to three business days for the cash to go through, but if you already have some money in your account, you can just withdraw the amount you need in the meantime. Either way, this is a quick way to ensure that the money goes into your account. Here is how you deposit a check at the ATM of your banking company: | #Deposit your check at the ATM of your bank. This is another way to cash the check you've been given. Essentially, you'll be depositing the check into your bank account; it can take up to three business days for the cash to go through, but if you already have some money in your account, you can just withdraw the amount you need in the meantime. Either way, this is a quick way to ensure that the money goes into your account. Here is how you deposit a check at the ATM of your banking company: | ||
#*Insert your debit card | #*Insert your debit card | ||
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=== Other Methods for Cashing the Check === | === Other Methods for Cashing the Check === | ||
#Take your check to the bank the check is being cashed from. If you don't have a bank account of your own, then this is a great method. Just bring a photo ID and the check to the teller at the bank where the check was cashed from, and you will be able to cash the check for yourself. Just remember that many banks will take a processing fee, which can cost $10 or more. This bank will also try to get you to open an account at their bank. | #Take your check to the bank the check is being cashed from. If you don't have a bank account of your own, then this is a great method. Just bring a photo ID and the check to the teller at the bank where the check was cashed from, and you will be able to cash the check for yourself. Just remember that many banks will take a processing fee, which can cost $10 or more. This bank will also try to get you to open an account at their bank. | ||
| − | #Cash your check at a retailer. Often times, large grocery store chains, other large franchises, and most Walmarts have places for you to cash your personal or payroll checks for minimal fees. You can take the check to a local 7-Eleven or another local retailer. This can cost less that doing the same thing at a bank you don't bank with or at a cash-checking service. 7-Eleven lets you cash checks at a .99% convenience fee, for example, and Walmart charges just $3 for checks under $1000.<ref | + | #Cash your check at a retailer. Often times, large grocery store chains, other large franchises, and most Walmarts have places for you to cash your personal or payroll checks for minimal fees. You can take the check to a local 7-Eleven or another local retailer. This can cost less that doing the same thing at a bank you don't bank with or at a cash-checking service. 7-Eleven lets you cash checks at a .99% convenience fee, for example, and Walmart charges just $3 for checks under $1000.<ref name="rf15688" /> |
#*Again, don't sign and endorse the back of your check until you are in front of the person who is cashing it for you. | #*Again, don't sign and endorse the back of your check until you are in front of the person who is cashing it for you. | ||
#Go to a specialized check-cashing company ''only'' as a last resort. You should only use this method as a last resort simply because these firms charge the most money for cashing personal and payroll checks. On the upside, these stores are often the quickest ways to get your cash immediately and may even be open, depending on what firm it is and where it is located, 24 hours a day, seven days a week. Once again, though, the commission that these check-cashing places take is often hefty due to the extra risk they take by cashing nearly any and all checks brought to them. | #Go to a specialized check-cashing company ''only'' as a last resort. You should only use this method as a last resort simply because these firms charge the most money for cashing personal and payroll checks. On the upside, these stores are often the quickest ways to get your cash immediately and may even be open, depending on what firm it is and where it is located, 24 hours a day, seven days a week. Once again, though, the commission that these check-cashing places take is often hefty due to the extra risk they take by cashing nearly any and all checks brought to them. | ||
