If you don't have a bank account and don't know where to cash a personal check, take a look at this guide and learn which are the best places where you can cash your personal checks.
Receiving a check when you don't have a bank account can be a bit confusing, but there are many everyday places where you can cash your personal checks.
So, if you don't have a checking account, take note of these places to cash checks!
1. The bank of the issuer
If there is a branch of the issuer's bank nearby, you can ask the teller if you can cash your check there. Then, you just need to endorse the check and show identification. As they know that you don't have a bank account, they will probably try to convince you to open a checking account with them, so don't be surprised if this happens! You definitely don't need to open an account at the bank to cash your check.
2. Grocery Stores
This is probably the easiest place to cash a check! Bear in mind that, in some cases, you may need to have a rewards card to the store, this way you can cash your check for a small fee. Some stores allow you to cash a check without a rewards card, but it will usually imply a larger fee. Before you go to the grocery store to cash your check, remember to ask which are the services and fees charged.
3. Check cashing services
Cashing your personal check at check cashing services may not be the best option as it comes with a heavy fee. Most of these companies charge a percentage of the total check besides a general fee. However, if the company tries to charge a higher fee you can try to negotiate with your check cashing service and ask them to match the grocery store fees. If this is not an option, then you should try in another place.
4. Gas stations and retail stores
In these cases, you may also be charged a fee for cashing your check. It usually is a percentage of the check, but make sure that the amount charged isn't huge! Bear in mind that gas stations don't usually have plenty of cash in the register, so if your check is over $1,000 you may need to look for another option. Bigger retail stores also offer to cash checks, but they have a $5,000 limit.
5. Prepaid Credit Cards
Another option is to get a prepaid credit card! You just need to endorse the check and deposit it at an ATM from the bank you have your card through. The cash may not be immediately available, but once the issuing bank approved the funds, you will be able to use your prepaid card.