MORE LIKE THISChecking AccountsBanking
If you get a payment by check, you can cash it or deposit it in several ways. If you have a bank account, you can do so at an ATM, with a teller or through your banking app. Without a bank account, cashing a check is still a fairly simple process through other methods, such as using a retailer.
But the best long-term solution is to get a checking account, either at a brick-and-mortar bank or with a bank that provides strong online checking accounts; cashing a check at your own bank is free and is the most convenient route.
Here’s how to save on fees when cashing checks.
» MORE: Can I cash a check at any bank?
How to deposit or cash a check step by step
Visit a major retailer or use your bank's services. If you don't have a bank account, go to the bank that's listed on the check or to a major retailer like Walmart. If you're a bank customer, visit one of your bank's branches or ATMs, or make use of mobile deposit through your bank’s app, if it’s offered.
Endorse the check. Just before cashing or depositing the check, sign the back with your name on the line with the X.
Hand over the check with ID or a bank card. If you don't belong to a bank, you'll likely need to show a retail clerk or bank teller your identification, such as a state-issued driver's license or other government ID. Then hand over the check and get your cash. If you're a bank customer, you can go to an ATM or bank teller and present your debit card and the check. A teller might also ask for ID. The check will get deposited first to your account and then you can withdraw cash.
» The parts of a check: How to find your bank routing number, account number and other important information
How much does it cost to cash or deposit a check?
Generally, banks let customers deposit or cash checks for free. If you don't have a bank account or need cash without delay, major retailers provide the service for a fee. Read more below on how the cost varies.
⏰ Limited-time offer
SoFi Checking and Savings
Learn moreat SoFi Bank, N.A., Member FDIC
Don’t miss out on a bigger bonus
Get a NerdWallet-exclusive bonus of up to $400 when you open an account and hit $5,000 in direct deposits within 25 days after your first one. That’s $100 more than SoFi’s normal $300 bonus! Select "Learn More" to get started. Expires 4/22/24. Terms apply.
Where to cash a check
The bank or credit union that’s on the check: You should be able to cash a check at the financial institution of the person or company that wrote you the check. However, banks and credit unions are not required to cash checks from noncustomers. If they do, they often charge a fee, which can be a flat amount (such as $8) or a percentage of the check amount (such as 1%). Some banks might also require two forms of ID.
» Does the check look suspicious? Here's a guide to spotting a fake check
Major retailers and grocery stores: Many large retail chains provide check-cashing services, generally for less than $10 per check. Walmart, for example, charges a $4 fee to cash checks up to $1,000 and $8 for anything larger. Kmart has an even cheaper service of cashing checks of up to a certain amount for $1 or less.
Retailer that can load cash onto prepaid debit cards: Prepaid debit cards let you deposit your check, add it to the card’s balance and withdraw cash. To do so, deposit the check either by using mobile check deposit through the card's mobile app, if available, or by visiting a major retailer, such as 7-Eleven or Walmart, that's part of a reload network. Then, withdraw cash either at that retailer location or an ATM.
There can be two fees total, one to load the check onto the card and another to get cash. Prepaid cards themselves can cost between $0 and $10, and there’s also usually a monthly service fee of about $5.
Where to avoid cashing a check
Payday lending store: Payday lending stores, which typically charge a percentage of the amount of the check you're cashing, are an expensive option. You’ll be better off going through a bank, prepaid debit card or retail store.
Best way to avoid fees: Get a checking account
Your own bank or credit union is the best option for dealing with checks you receive. You generally deposit the check first and the full amount likely won't be immediately available to withdraw, but you’ll get access to it within one to two business days. This free and convenient service makes getting a checking account worthwhile.
If a financial institution has closed your checking account — for reasons such as unpaid overdrafts, for example — it may be hard to open a new account. That’s because you may have a record with ChexSystems, a company that tracks closed checking and savings accounts.
Some banks and credit unions will let you open a second chance checking account. These accounts may come with monthly fees, which can offset some of the money you save by avoiding the payday lender. But if you keep a second chance account in good standing for about a year, you may be able to upgrade to a free regular checking account, which will save more money in the long run.
» Where to find one: Second chance checking accounts across the U.S.
FAQs
Major retailers, or the payer's bank or credit union, can cash a check for a small fee. But the better option is your own financial institution. Margarette Burnette is a NerdWallet authority on savings, who has been writing about bank accounts since before the Great Recession.
Where can I write a check and get cash back? ›
The most common place where you can cash a check is at a bank or credit union. However, there are other places you can turn your check into cash, including check-cashing apps, ATMs, or certain retailers (Walmart famously cashes many types of checks).
When cashing a check how much does it cost? ›
You might be charged a check-cashing fee of about $5 to $10. Keep in mind that a bank or credit union isn't required to cash your check. Therefore, the financial institution might turn down your check-cashing request. Just as you would at your own bank or credit union, bring at least one form of photo ID with you.
Do check cashing companies charge high fees? ›
Retailers often have a flat fee of $4 to $10, while dedicated check-cashing businesses often charge between 2% and 6% of the check amount, according to our research. That means it's typically a better deal to deposit or cash your check through your bank – which will offer this for free.
What app will cash a personal check immediately? ›
Some instant check cashing apps, such as PayPal and Venmo, allow users to cash checks online instantly without the need for a traditional bank account. These apps store the deposited funds in a digital wallet, which users can then use to make purchases, send money to others, or transfer funds to a linked bank account.
Can I write a check to Walmart and get cash? ›
Walmart charges $4 to cash checks up to $1,000 and a maximum fee of $8 for checks greater than $1,000. In some cases, Walmart cashes two-party personal checks, but these are limited to a maximum amount of $200 and come with a $6 fee.
How to cash a check at an ATM without an account? ›
Consider a Prepaid Debit Card
With this option, you can get a debit card that enables you to deposit your check directly – likely by mobile check deposit – onto the card without needing to open an account with a bank. Then you should be able to get cash from an ATM by using the card.
What is the largest check a bank will cash? ›
Caution with high-value personal checks
While you can deposit checks over $10,000 at any bank or ATM, cashing this requires the bank to report it to the Internal Revenue Service (IRS), a rule for all cash transactions over $10,000.
How do you cash a check for a large amount? ›
Cashing a large check at the issuing bank is likely the best option. Call ahead to see if a bank will do this and whether you need to bring ID or other documentation. You can always deposit a check at a check-cashing store, but it'll be an expensive transaction that significantly eats into your earnings.
Can I cash a check on Cash App? ›
Yes, you can deposit a check on Cash App. To deposit a check on Cash App, you will need to have a verified account and a linked bank account. You can deposit checks up to $7,500 per day and $15,000 per month, with a fee of 5% for instant deposits or 1-3 business days for free deposits.
Check-Cashing Fees
| Check-Cashing Method | Typical Fee |
|---|
| Bank (for non-members) | $0 to $8 or 0% to 2% |
| Grocery or retail store | $3 to $8 |
| Prepaid debit card | 0% to 5%* |
| Payday lender or check-cashing store | 2% to 10% |
May 6, 2024
Among the negatives: Fees: The fees for cash checking services range from a low of $1 in some places to a high of 2% of the check amount in other places. These fees chip away at the ability to pay bills or have disposable income. Always understand the fees and costs before using check cashing.
Does Walmart charge a fee to cash a check? ›
What services are available at Walmart MoneyCenters? Cash your payroll or government checks, including tax refund checks, at Walmart stores. Max $4 fee for cashing checks of up to $1,000; max $8 fee for cashing checks over $1,000 and up to $5,000 (or $7,500 during tax refund season).
Where can I cash a check instantly without verification? ›
Below are the best instant check Cashing Apps that don't require much verification to cash your checks.
- Ingo Money App. The Ingo Money app is a popular instant check cashing app that allows you to cash checks online and receive the money in minutes. ...
- Brink's Money Prepaid App. ...
- PayPal App. ...
- Venmo App. ...
- Netspend. ...
- Cash App.
The easiest way to cash a check is to take it to a bank where you have an account. Check-cashing services are found at Walmart and many grocery stores.
How do you cash a check and get it instantly? ›
Try Visiting the Check Writer's Bank
The safest and fastest way to get cash is to take your check to the check writer's bank. That's the bank or credit union that holds the check writer's funds, and you can get the money out of their account and into your hands instantly at that bank.
Can I get cash back when writing a check? ›
One way to access cash from your bank account is to write yourself a check. You won't need your debit card to cash it. You should have no problem cashing the check at a bank or credit union where you have an account.
Can I write a check to cash to get cash? ›
Writing a Check to “Cash”
A check written payable to “Cash” can be cashed or deposited by anyone. This is convenient, but also requires precaution. Guard a check written to “Cash” just as you would any money you possess and never send one in the mail.
Can you write a check at Walgreens and get cash back? ›
No, Walgreens does not provide check cashing services. They only accept checks as a form of payment for the exact amount of your purchases and do not give cash back on checks.
Can I write a check to myself and cash it at ATM? ›
Yes, you can write a check to yourself and cash it at an ATM.
