You’ve been given a check as a reward for your work, a birthday or for any other reason. After you enlist to cash to buy something nice, leave your house and you realize you have no idea what to do. Do not worry. Whether or not have a bank account, cashing a check can be an easy and simple task.
The checks are as good as cash, but if you can only collect them. If you do not have a bank account or if your bank is closed for the day, or simply do not have access to a bank, you may wonder if you can cash a check.
Many places offer check cashing services to any person who holds the proper identification. However, some places put a limit on the amount of the check, so if your check is made for a large sum of money (more than $ 500, for example), call first to make sure it is accepted.
Make sure you Trust the Person You Got the Check From
This is most important, because if you end up with a bad check, you will have many problems to collect the money that belongs to you. Make sure the person you’ve turned the check is trustworthy.
If you will ask for a payment to a person who did not know before you contact or through classified ads to sell your stuff, it is best that you ask the cash (if possible). In case you have a check, make sure that it has the following information:
- Names and correct address of the person you’ve turned the check
- Contact information for the person who has turned the check
- Name of a legitimate bank from which he had to write the check
First Find out the Types of Fees that May Apply When Cashing Your Check
Some places, like Wal-Mart, charge a flat fee. Other places charge a percentage. Supermarkets and companies payday loans are some of the companies that often offer check cashing services. Since rates vary, it is worth calling first to see who charges less. They deducted the rate of money you receive.
Takes the check, your picture ID and social security number with you when you go. A commonly accepted forms of identification include driver’s licenses, identification cards state or current US passports. In some places, but not all, they require you to provide your social security number.
Be Prepared to Wait in Line if In Your Going in Person
You must be prepared to have to make the line, especially if you go on a Friday afternoon. Many people charge paychecks these days and you may have to wait a while to get to the front of the line.
Sign your name to endorse the check on the back if needed, most of the checks have a designated area. If you have does not, sign your name through one end (wide) or the other in the back of the check. Some places to check cashing may also require a fingerprint. The clerk will let you know and will guide the ink pad for this.
Cashing Your Check Procedure: Explained
When cashing a check, if we are the beneficiaries, we must know how to get our money. To do this you can follow two procedures, depending on the limitations imposed on the check itself, or depending on the preferences of the recipient.
On one side is the payment in cash. The amount is given in cash used for small amounts, if they are large are of must notify the company in advance to have ready money. As a second option, the check can be cashed into account.
Cash the Check at a Retail Store Such as Walmart
Many supermarket chains and other large companies have places where they can be collected the personal and payroll checks for a low price. Takes the check to a store in your area that will allow cashing. This can be cheaper than cash the check in a bank with which you have no relationship or a check cashing service.
For example, some companies charge a convenience fee of 0.99%, while others only charge a nominal fee for checks under $ 1,000. Remember not to sign or endorse the back of the check until you’re in front of the person who will give the money.