Third EIP: How much does Walmart charge to cash a stimulus check?

Every week the IRS and the Treasury Deparment continue to send out stimulus checks and "plus-up" payments. If you don't have a bank account, and receive a check in the mail, there are several places to cash it. How much does Walmart charge to cash the stimulus check?

The IRS has sent out more than 167 million economic impact payments worth $ 391 billion since the third round of impact assistance began on March 12. More than 20 million of these payments were sent as paper checks that were received in the mail. How much does it cost to cash these checks at Walmart?

The Federal Deposit Insurance Corporation (FDIC) estimates that some 7.1 million American households, which is about 5%, do not have a bank account, so many will have to find other ways to cash the stimulus check.

There are different ways to cash your stimulus check and you should bear in mind that sometimes they will charge you a commission that in some establishments will be high.

Walmart is an option

If you don't have a bank account, Walmart has provided a couple of ways for you to cash your stimulus checks. Please note that this service is not free and you will have to pay a small fee.

Walmart offers a service to cash your stimulus check of up to $ 5,000, and the retail store will charge you a $ 4 fee for cashing a stimulus check of up to $ 1,000.

On average, Walmart charges an $ 8 fee to cash a stimulus check between $ 1,000 and $ 5,000.

In order to cash your check, you will need to bring it along with identification to the Walmart customer service desk or money service center.

You can also deposit your stimulus money on a Walmart MoneyCard. Acquiring the card from the store will cost you $ 1.

It's a low-priced, reloadable, prepaid debit card that you can use to make electronic purchases everywhere Visa and Mastercard debit cards are accepted.

Keep in mind that the MoneyCard has a monthly fee of $ 5.94. However, the fee does not apply if you deposit at least $ 1,000 on your card.

You can withdraw money free of charge at Walmart MoneyCenters branches and at the customer service department. But there is a fee of $ 2.50 for each withdrawal of money at other ATMs and a charge of $ 0.50 cents for each balance inquiry at the ATM.

Related Articles

More News

More News