Find Check Cashing Stores Near Me
Check cashing stores offer consumers the benefit of getting funds immediately. With a checking caching location you can receive the full amount of your check minus a service fee.
This differs from when you go to a bank to cash a check. They often need to wait until the funds clear before you can fully draw on it. The only exception to that is that if the same bank issued the check. There are certain times a bank will cash it for you, for a fee, but that fee is normally much higher than a check cashing location.
Where to Find Check Cashing Stores Near Me?
If you are looking for check cashing locations near me, then the best way to find them is via google maps. You can use the map below to get your search started.
All of these locations will definitely cash checks, but there fees may vary. If the fee is a deciding factor in which location to use, your best bet is to call ahead. Same for loans, no all check cashing offers loans, so calling before you visit can save you time and effort.
Check cashing stores are popular in lower income areas or areas with diverse socio-economics. While you can find them in other areas, that is where they tend to be the most prevalent. There are even special check cashing locations that will give out loans and also exchange cash for unused gift cards. One of the most popular is called the Check Cashing Place, which is located out on the west coast.
Many places have different looks some say Checks Cashed, Check Cashing and Others just say Cash.
Do Check Cashing Places Sell Stamps?
Not all check cashing stores sell stamps, but many do. Actually some even sell envelopes. This is convenient, because let’s say you have a check for $100 and you need to pay a bill for $50. You can go to a check cashing place near you, cash out your $100, buy stamps and an envelope and then write a check for $50. Essentially some locations are nice one stop shops. In addition they also have mail pick up service so you can leave your envelope there and the postal service will pick it up.
For any type of sending a bill its very convenient that you can get stamps. Really you can exchange your check for cash, a money order, another check, etc…and then purchase postage stamps and an envelope to get your bill paid right there. Doesn’t get much easier than that, you can’t do that at a bank!
Check Cashing Locations Have Benefits
Well aside from the fact that you can get your check assets turned into cash flow for a fee, there are multiple benefits.
For some people with low credit or poor banking history they can’t get authorized to open a checking account, so this becomes an alternative. In addition these establishments often open earlier than banks and they close later. Cashing checks at banks is a pain because they are open during business hours…if you work business hours it’s impossible to visit the bank. Some are even open on Sundays.
Here are some other benefits:
- Money Transfers
- Money Orders
- Payday loans and Other loans,
- Bill Payments
- Stamps, envelopes, and mailing services
- Notary Public
- Copying and faxing services
- Public transportation passes and tokens
- Foreign currency exchange
- ATM Machines on location
How Much are Check Cashing Fees?
One of the arguments people make against these stores is that they take advantage of consumers by charging them to exchange a check for cash. The average fee for check cashing ranges between 3% and 5%.
The Expenses Can Add Up
While 3-5% may not seem like a lot of money, imagine every week you went and cashed a check for $1000. If the rate was 5% every week you would spend $50 just to cash your check. That is $200 a month or $2,400 a year. Having a bank account would cost you so much less.
Many people who visit check cashing stores go there to cash a check and then send a money order. If you already have cash and just need to send a money order, the two best places are Walmart and Western Union. Inside of a Walmart they have a place called a Money Center and Western Union’s are stores that specialize is sending money. In addition to doing money orders some of these Walmart and Western Union locations also can cash checks for you.
The Check Cashing Business is all About Convenience
More than anything if you can’t open a bank account, then really what options do you have. These business locations make it possible to cash checks. If you are in need of finding a check chasing business near you, do a search and then call to find out what additional services they offer. Chances are you can find a variety of different business within a short radius. Where there is one store, there tends to be many. Each location will range is service fees as well as services offered, so you can always call around and make sure you are getting the best rate on the fee.