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For millions of unbanked people, cashing a check isn’t easy. According to a 2017 FDIC survey, approximately 8.4 million US households, including 14.1 million adults, do not have a bank account.
How To Cash A Check Without A Bank Account?
There are ways to cash a check without a bank account, but they cost more money, generally take more time and involve more risk than cashing a check at a bank where you have an account. Here are five options.
1. Cash your check at the issuing bank
Banks and credit unions are not required to cash checks to non-customers, but many banks will cash a check issued by an account holder at that bank, even if it is due to be paid to a non-customer.
Keep in mind that there must be enough money in the payer’s account to cover the check. In addition, the payee (i.e. the person cashing the check) must provide identification, such as a driver’s license or military ID.
The beneficiary should also expect compensation. The cost of cashing checks at traditional banks is usually about $8. If you’re paid 52 weeks out of the year, that’s $416 in check-cashing fees.
And there may be restrictions, such as limits on checks and rejection of personal checks by two parties. Checks that are six months or older may be rejected.
2. Cash your check at a retailer
There are several major stores such as Walmart, Kmart, and supermarket chains that exchange checks.
The cheapest option is probably Kmart (if you can find one that isn’t closed). The struggling retailer only charges $1 or less for cash checks, including two-piece personal checks up to $500. The caveat is that you must be a member of the store’s “Buy Your Way” program to use the service. Joining the program is free.
Walmart charges $4 for cash checks up to $1,000 and up to $8 for checks above that amount. Walmart also collects personal checks from two parties, but limits them to $200 and charges a maximum fee of $6.
Supermarket chains often offer to check cashing services. Cash checks include Kroger, Publix, Giant Eagle, Albertsons and Ingles. The cost usually ranges from about $3 to $6.
3. Load money on a prepaid debit card
People who don’t have a bank account sometimes use prepaid cards to deposit checks and access their money. Prepaid cards are similar to payment cards for a checking account. Your spending is limited by how much money you have loaded on the card.
Prepaid cards have several options for cashing checks. Some prepaid cards allow you to set up a direct deposit so that checks are automatically loaded onto the card. Other cards come with an app that allows you to take a picture of your check to load it onto your card. Or you can deposit your check at an ATM to load the money onto the card.
Costs are a major drawback of prepaid cards. Walmart MoneyCard charges $2.50 to withdraw cash from an ATM (not including fees charged by the bank) or from a bank teller and 50 cents to check the card balance at an ATM. There is a $5.94 monthly fee unless you charge the card $1,000 a month.
Charging costs can be high. It can cost up to $5.95 to add money to a Green Dot prepaid Visa card. Green Dot also charges a $3 ATM fee. Sometimes the costs for prepaid cards scale according to how quickly you want your money, and you can be available quickly.
4. Cash your check at a check collection point
You can also use Check cashing point for how to cash a check without a bank account. Check cashing points are probably the most expensive places to cash checks. Some of them require customers to “join” or buy ID cards to cash checks before cashing their checks. In addition to a membership fee, they may charge an initial usage fee.
The cost of cashing a check can range from 1% to 12% of the check’s face value. That means you can pay anywhere from $10 to $120 to cash a $1,000 check. Some companies charge a fixed amount on top of the percentage.
The average face value of a check presented to a check-cashing point is $442.30, with the average check cashing rate being $13.77, or about 3.1%, according to the FDIC If That’s Your Salary and you cash it every week, you’ll pay $55.08 per month, or $661 per year, in check-cashing fees.
Check-cashing shops are not only exorbitant but there is also a risk of deceptive practices. For example, the Better Business Bureau warns consumers of a scam where customers at a check-cashing store are called by someone claiming to represent the company. The caller offers the customer a loan and asks for payment to secure the loan. Of course, the loan is never received and the customer who cashes the check is scammed and lost.
Check-cashing shops should be your last resort.
5. Sign your check for someone you trust
Another way to cash a check if you don’t have a bank account is to sign the check with someone you trust who has a bank account and have that person cash the check at your bank.
Make sure that the person you are writing your check for is willing to cash the check and that his or her bank will cash it. You must accompany your trusted friend to the bank if the teller asks for your ID or has questions about the check.
Your friend must have proper identification and be willing to have their check stamped for a check-cashing fee.
All of the methods described above carry a risk of personal and financial safety. Paper checks and cash can be lost or stolen.
How to cash a large check without a bank account?
For most checks, you should have no problem using any of the above options. However, with large checks, the process can be a little more complicated.
For example, Kmart only collects payroll and government checks up to $2,000, and Walmart is going up to $5,000 — though it’s raising that limit to $7,500 from January to April, presumably to allow for tax refunds. Personal checks can be cashed up to $500 at Kmart and $200 at Walmart.
If you have a larger check, work with your issuing bank or deposit it into your prepaid card account, or even your PayPal account through an app like Ingo Money.
What to consider before cashing a check without a bank account?
Getting your bank account is one of the best things you can do to control cash. But if you’re having a hard time qualifying for it, here are a few things to consider when deciding where to go.
For a fee, you can be hooked
In most cases, cashing a check through a retailer or check-cashing shop incurs a fee, and some issuing banks may charge you as well. To limit how much you spend on check-cashing fees, research your options to find the one that charges the least.
You need some form of identification
Any institution that offers check cashing services will require at least one form of identification. They do this to ensure that you are the person who should receive the money from the check.
In some cases, you may be required to provide two forms of identification, especially if you are trying to cash a large check.
Personal checks are harder to cash
If you want to cash a personal check, you have fewer options than with a payroll, government check, or another form of a preprinted check. For example, many check cashing stores don’t cash personal checks, and retailers usually have low limits of just a few hundred dollars.
If possible, start with the issuing bank. Another option is to ask the person who gave the check to give you cash, money order, or check.
Tips for cashing large checks
After showing you how to cash a check without a bank account, Here are some tips for you, if you’re expecting a large check, there are a few things you can do before you receive it to avoid being withheld:
- Ask the company issuing the big check to deposit the money directly into your bank account via wire transfer. Instant deposits are usually available immediately after the bank receives them.
- Ask for a cashier’s check instead of a commercial check. Unlike other types of checks, the Federal Reserve requires banks to deposit at least $5,000 of a cashier’s check the next business day after deposit. Banks also usually don’t hold large checks because the money is guaranteed by the issuing bank rather than a personal or business account.
- If you have had a bank account for a long time and are a current customer at your bank, you can speak to a bank manager and ask them not to withhold any money from your overdraft or to cash the check immediately instead of depositing it. In some cases, a bank may consider making exceptions for long-term customers cashing checks from established companies or institutions, such as U.S. Treasury checks, insurance checks, or checks issued directly by other banks.
Where Can I Cash A Check Without A Bank Account Near Me?
The following locations will cash large checks without holding the money, although most charge a small fee for this service. We include banks and credit unions that cash large checks for non-customers, as well as check cashing stores and supermarkets that cash large checks.
Banks and credit unions
Unless you have an account with the bank or credit union that issued your large check, the fastest way to cash large checks is to go to the issuing bank. Below we have compiled the list of banks and credit unions that cash large checks to account holders and non-customers. The following banks and credit unions will order cash checks of almost any amount, starting with the best general options.
Note: Account holders can cash or deposit large checks for free at their bank, but many financial institutions charge a fee for non-customers to cash checks at their bank.
1. Fifth Third Bank
Large checks cashed to non-customers:
Checks issued by the Fifth Third Bank; personnel, payroll, government, tax refunds, and cashier’s checks
Compensation for non-customers:
1% of the total amount of the check (maximum $4)
Conditions:
Two forms of identification, including a valid photo ID
2. PNC Bank
Large checks cashed to non-customers:
Checks issued by Banco PNC
Compensation for non-customers:
Free for checks up to $25, then $2
Conditions:
Valid ID with photo
3. Citi Bank
Large checks cashed to non-customers:
Checks issued by Citibank; other large checks can be cashed at the discretion of the bank
Compensation for non-customers:
Free for Citibank checks up to $5,000; Fees for other checks vary by check type and amount
Conditions:
Valid ID with photo
4. HSBC
Large checks cashed to non-customers:
Checks issued by HSBC; other large checks may be cashed to non-customers at the discretion of the bank
Compensation for non-customers:
$3 for checks up to $100; $5 for checks over $100; free for HSBC personal checks
Conditions:
Valid ID with photo
5. Key bank
Large checks cashed to non-customers:
Checks issued by KeyBank; personal, salary, government, and tax refund checks
Compensation for non-customers:
Regular KeyBank branches: $7 per check
KeyBank Plus Centers: 1.5% of the total amount of the check
Conditions:
Valid ID with photo
6. West Bank
Large checks cashed to non-customers:
Checks issued by Banco do Oeste
Compensation for non-customers:
Free for bank drafts or checks drawn on a government agency account; $7.50 per check for all other major checks (Bank of the West checks under $50 are free)
Conditions:
Valid ID with photo
7. Bank of the USA
Large checks cashed to non-customers:
Checks issued by the US bank
Compensation for non-customers:
$7 per check
Conditions:
Valid ID with photo
8. Citizens Bank
Large checks cashed to non-customers:
Checks issued by Citizens Bank (except third party checks)
Compensation for non-customers:
$7 per check
Conditions:
Valid ID with photo
9. TD Bank
Large checks cashed to non-customers:
Checks issued by TD Bank
Compensation for non-customers:
$7 per check
Conditions:
Valid ID with photo
10. SunTrust Bank
Large checks cashed to non-customers:
Checks issued by SunTrust Bank; personal checks, payroll, government, insurance, tax refunds, business checks, out-of-state and third-party checks.
Compensation for non-customers:
$7 for all checks issued by SunTrust and 1% to 3% of the total amount for all others
Conditions:
Valid photo ID
11. Wells Fargo
Large checks cashed to non-customers:
Checks issued by Wells Fargo
Compensation for non-customers:
$7.50
Conditions:
Valid ID with photo
12. Chase Bank
Large checks cashed to non-customers:
Chase Bank has issued checks; personnel, payroll, government, tax refunds, and cashier’s checks
Compensation for non-customers:
$8 per check
Conditions:
Valid ID with photo
13. Bank of America
Large checks cashed to non-customers:
Bank of America has issued checks; all checks printed with magnetic ink (not printed at home) including government, payroll, tax refund, and cashier checks
Compensation for non-customers:
$8 per check
Conditions:
Two forms of identification, including a valid photo ID
14. PenFed Credit Union
Large checks cashed to non-customers:
Checks issued by PenFed
Compensation for non-customers:
Free
Conditions:
Valid ID with photo
15. Federal Marine Credit Union
Large checks cashed to non-customers:
The Navy Federal Credit Union Has Issued Checks
Compensation for non-customers:
Free
Conditions:
Valid ID with photo
16. Connexus Credit Union
Large checks cashed to non-customers:
Checks issued by Connexus
Compensation for non-customers:
Free
Conditions:
Valid ID with photo
17. Mountain America Credit Union
Large checks cashed to non-customers:
Checks issued by Mountain America Credit Union
Compensation for non-customers:
Free
Conditions:
Valid ID with photo
18. BB&T Bank
Large checks cashed to non-customers:
BB&T has issued checks, including personnel and payroll
Compensation for non-customers:
$8 per check (all checks over $50)
Conditions:
Valid ID with photo
19. Bank of Regions
Large checks cashed to non-customers:
Checks issued by the Bank of the Regions; manuscript, payroll, government, insurance, tax refund, business, two-part checks, out-of-state checks, and money orders
Compensation for non-customers:
1% to 4% of the check amount, depending on the type of check; 5% of the total for money orders
Conditions:
Non-customers must apply for a free Regions Now card online or at a Regions Now branch. You will need a valid photo ID, email address, Social Security number, and a funding source (such as a debit or credit card) to obtain a Regions Now card.
20. Chartway Federal Credit Union
Large checks cashed to non-customers:
Checks issued by Chartway, except those paid to a company
Compensation for non-customers:
$3 or 2% of the total amount of the check, whichever is greater
Conditions:
Valid photo ID
21. M&T Bank
Large checks cashed to non-customers:
Checks issued by M&T Bank; other large checks may be cashed to non-customers at the discretion of the bank
Compensation for non-customers:
3% of the total check amount (minimum $3)
Conditions:
Valid ID with photo
22. BMO Harris Bank
Large checks cashed to non-customers:
Checks issued by BMO Harris
Compensation for non-customers:
$10 per check (all checks over $50)
Conditions:
Valid ID with photo
23. First National Bank
Large checks cashed to non-customers:
First checks issued by the National Bank; other large checks may be cashed to non-customers at the discretion of the bank
Compensation for non-customers:
$10 per check
Conditions:
Valid ID with photo
Check stores
Most check cashing stores will cash large checks. The charges for cashing large checks at check-cashing stores generally vary depending on the type and amount of check being cashed, so you can call your nearest location ahead of time and ask for details about the charges for your specific check. Also, keep in mind that check-cashing shops are almost always more expensive than a bank or credit union. As above, we’ve sorted the list below, starting with the best general options.
1. ACE Cash Express
Limitation:
None, although all controls are subject to approval
Cost:
Varies by store location, check type, and amount
Conditions:
Valid ID with photo
2. Cash check
Limitation:
No
Cost:
Varies by store location, check type, and amount
Conditions:
Valid ID with photo
3. Payment of PLS checks
Limitation:
No
Cost:
Vary by check type, amount, and location
Conditions:
Valid ID with photo
4. United Check Deposit
Limitation:
United Check Cashing is franchised, so the rules may vary by location, but none of the stores we called had a check cashing threshold.
Cost:
About 2% of the check amount (as previously reported)
Conditions:
Valid ID with photo
5. Tick ‘N Go’
Limitation:
Varies by store, based on how much cash you have on hand
Check withdrawal fees:
From 1.99% of the total amount of the check. Fees vary by store, location, check type, and amount.
Conditions:
Valid ID with photo
6. Community Center for Financial Services (CFSC)
Limitation:
Varies by store, based on how much cash is available
Cost:
Varies by store location, check type, and amount
Conditions:
Valid ID with photo
7. Fast Money
Limitation:
No
Cost:
From $2
Conditions:
Valid ID with photo
8. Money Market
Limitation:
No
Cost:
Varies by store location, check type, and amount
Conditions:
Valid ID with photo
9. Mr. Payroll
Limitation:
Since the location of Mr. Payroll is a franchise, restrictions may vary by store; however, the stores we contacted said there is no set limit as long as the check is cleared.
Cost:
Varies by store location, check type, and amount
Conditions:
Valid ID with photo
10. USA (California) Check Cashing Shop
Limitation:
No
Cost:
Varies by store location, check type, and amount
Conditions:
Valid ID with photo
11. Check Cashing Shop (Florida)
Limitation:
No
Cost:
Varies by store location, check type, and amount
Conditions:
Two forms of identification, including a valid photo ID
12. Friendly Security Deposit (North Carolina)
Limitation:
None, as long as a store associate can verify the check
Cost:
Varies by store location, check type, and amount
Conditions:
Valid ID with photo
13. Financial Advance (Tennessee)
Limitation:
No
Cost:
Salary and Government: 1% to 2.99% of the total amount of the check; Minimum $3 for payroll and $2 for government checks
Money orders and personal checks: 10% of the total amount of the check; minimum $5
All other checks: 1% to 5% of the total amount of the check; minimum $5
Conditions:
Valid ID with photo
14. Pay-O-Matic (New York)
Limitation:
None, although the store verification system must pass all verifications
Cost:
About 2% of the total amount of the check
Conditions:
Valid ID with photo
Grocery stores
Not many supermarkets will cash checks over $5,000 because they typically don’t have large amounts of cash in the store. The limits for cashing grocery checks are usually much lower, but there are also those that cash large checks. For this list, we’ve included grocery stores with a check-cashing limit of at least $5,000, starting with the best options.
1. HEB Grocery Store (Texas)
Limitation:
$9,500
Cost:
$3 for checks up to $3,000; fees range for checks from $3,000 to $9,500
Conditions:
Valid ID with photo
2. Kroger
Note: The Kroger family of stores includes Baker’s, Dillons, Fred Meyer, Fry’s Food, King Soopers, and Ralphs.
Limitation:
$5,000
Cost:
From $3 for checks up to $2,000 and $5.50 for checks over $2,000 to $5,000 [
Conditions:
Valid photo ID and social security number
3. Walmart
Note: Check to cash at Walmart is limited to $2,000 in Florida and not available in New Jersey, New York, or Rhode Island.
Limitation:
$5,000; Check withdrawal limit will be increased to $7,500 from January to April
Check withdrawal fees:
$3 for checks up to $1,000; $6 for checks over $1,000 to $5,000
Conditions:
Valid ID with photo
Can I cash a check at any bank?
No, a bank or credit union is not required to cash the check. If you go to a bank or credit union where neither you nor the person writing the check has an account, the bank or credit union will often refuse to cash the check.
However, many banks or credit unions will cash a check if:
- It was written by one of your account holders,
- There’s money in the account to back the check,
- The check is not older than 6 months,
- You are the payee named on the check, and
- You show the correct identification.
The bank or credit union may charge a fee if you do not have an account with them.
The bank or credit union where you have your checking account may allow you to cash a check from another bank or credit union. However, you may need to deposit the check into your account first. When you deposit the check into your checking account, the money is usually available within one or two business days.
Some banks and credit unions offer fee-based check cashing services, including to consumers who do not have a bank or credit union account and who offer third-party checks.
How To Cash A Check Without A Bank Account Conclusion
Look for the cheapest option
Check cashing at merchants and check cashing stores can be helpful, but whether you do it regularly or not, it’s worth spending a little extra time finding the cheapest option. In most cases, this means that you get your bank account.
If you’re having trouble getting bank account approval because of some low numbers in your ChexSystems report, which tracks your usage history with previous bank accounts, some banks and credit unions offer what’s called second chance banking. These accounts may have some limitations, but they can help you get the services you need while rebuilding your banking history.
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