by Charlotte Wood
(last updated August 18, 2017)
You hear about all these different companies that cash your checks if you don't have a bank account and it's "quick and easy," but seriously those companies are bogus. There are obvious and free alternatives to check cashing companies that make you wonder why in the world you would ever consider going to a place that essentially charges you for your money. It's ridiculous.
Essentially check cashing companies charge you an exorbitant fee for cashing your check for your money. People may think this is the only option if you don't have a bank account elsewhere, but seriously think about it. Why should you pay someone a sickeningly high fee for them to cash a check for the money that you made? What is the point? Yeah, you may not have your own bank account, preferring to do things in cash (which is fine if that's what you prefer), but at least make sure you can keep the money you earn.
You can always go to the bank off of which the check is drawn and they have to cash it for you (providing you have the proper identification). If it's drawn on their bank then they can't deny you the money even if you don't have an account there. You'll probably need two forms of identification like a driver's license and credit card because that's the policy with most banks, so hopefully that shouldn't be a problem for you. If having proper identification is an issue for you then you should probably focus on remedying that legal faux pas first before you go tromping around trying to get a check cashed.
I don't even know why check cashing companies exist if it's just that easy to go to the check's bank and have them cash it for free. It just doesn't make sense that those businesses stay open when there are such blatantly cheaper solutions. It's not that hard to go to the bank and ask the teller to cash your check. Why should you go to a business that performs bank-like services for something that a real bank does for free? I just don't understand.
Avoid check cashing companies at all costs because it's not worth a chunk of your paycheck when you have such an obvious alternate solution to getting your money. You earned that money so you should keep as much of that money as possible. Check cashing companies just aren't worth it and you can get the most money you can if you simply go to a real bank.
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