Cheapest solution to money a Personal Check without a banking account

Cheapest solution to money a Personal Check without a banking account

Jim Wang Updated November 8, 2019 Some links here are from our sponsors. Here is exactly how we generate income.

Whenever you’ve got a bank account and get a check, it is effortless. You open the app up and snap some pictures. In the event your bank does not have a software, you are taking it to your hand and branch it up to a teller or utilize the ATM.

Imagine if you are one of the numerous many people who’re “unbanked” – without a banking account? The clear answer is trickier.

Here you will find the methods you cash a check, from cheapest to many expensive:

Dining Table of articles

The Issuing Bank or Credit Union

Go directly to the bank that issued the check – their info is regarding the check it self. They are able to verify the check’s legitimacy, whether funds can be obtained, and certainly will offer you cash for the cost. The cost varies from bank to bank.

Here is the cheapest choice, specifically for non-official checks. In some instances, it is free (often just free if under a certain buck quantity).

A flat $6 fee to cash one of their checks for example, Bank of America charges. Capital One charges $0. M&T Bank will charges you 2% associated with the check quantity having a $3 minimum. Phone a regional branch to learn their precise charge for the check. Continue reading “Cheapest solution to money a Personal Check without a banking account”