Navigating the world of check cashing services can feel a bit like stepping into a game show—you need to know the rules to win. Whether you’re new to check cashing or just want to ensure you’re doing it right, here’s a handy guide with some dos and don’ts to make sure you come out a winner, prize in hand.
Do: Bring a Photo Government ID
First things first, make sure to bring a photo ID. No, your high school library card won’t cut it. We’re talking about a government-issued ID, folks. This could be a driver’s license, passport, or even a military ID. Basically, anything that can prove to us that you’re you. And depending on the check cashing service, the country of the ID may not matter. Some check cashing stores accept government photo IDs from any country.
Not sure what else you need to get your check cashed? Give the store a quick call ahead of time. They’ll help you get ready to come in and cash your check. It’s always better to be safe than sorry.
Don’t: Endorse the Check Before You Arrive
This is a big one. Never ever endorse your check before you get to the bank or check cashing service. If the teller denies your pre-endorsed check, you could end up with a mess on your hands. When you arrive, wait for the teller to verify if they can cash your check before you whip out your pen and sign the back. This way, you can avoid any unnecessary hassle if there’s an issue.
If you do happen to endorse the check and the teller is unable to verify it, make sure to get a receipt. Pre-endorsed check cashing is a service some stores offer. Having a receipt can help them serve you better.
Do: Bring Your Check in Good Condition
Ever heard the phrase, “There’s a place for everything and everything in its place?” Well, the same goes for checks. Keep them in a safe spot so they stay in good condition. While some check cashing services can help you with a check that’s crumpled, torn, or looks like it survived a paper shredder, a pristine check is more likely to sail through the process without a hitch. So, treat that little piece of paper with some respect. That’s your ticket to getting some cash, after all.
Don’t: Ask for a Loan
The majority of check cashing services are not your neighborhood bank. Check cashing stores do offer various services you might associate with loans, but most do not include that as one of their services. If you need a loan, there are plenty of other avenues to explore.
Do: Know the Limit
Every check cashing service has a limit on the amount they can cash. It’s like the roller coaster ride at an amusement park—there are height restrictions, and if you’re too tall (or, in this case, your check is too large), you won’t get in.
Make sure to know the cashing limits ahead of time. You can always call ahead to ask. This could save you a disappointing trip if you don’t get your funds when you need them.
Don’t: Overpay
Every check cashing service comes with fees, but don’t let yourself get overcharged. Call ahead and ask about the fees involved. Some places might charge a flat rate, while others take a percentage of your check. When you’re informed before you go, you won’t be surprised by a big fee that chomps away a portion of your hard-earned money.
Do: Know What Type of Checks They Cash
Not all checks are created equal in the eyes of check cashing services. Some might cash 401k checks, personal checks, payroll checks, or government checks. Others might draw the line at 401k checks or post-dated checks. If you need to cash a money order, a post-dated check, or 401k check, make sure you find a check cashing store that offers those services.
Don’t: Let Your Check Expire
Most checks come with an expiration date—usually 90 days from the issue date. Letting your check expire is essentially throwing away your hard-earned money. Make sure to cash it in time. If it’s past the date, you might need to request a new check, which can be a hassle.
Bonus Tip: If You Get Denied, Don’t Give Up
Getting denied can be frustrating, but it’s not the end of the road. You can ask for a manual verification process or request a new check from the issuer. Sometimes, it takes a bit of persistence and patience. You can get your cash eventually.
Using a check cashing service doesn’t have to be a daunting task. By following these dos and don’ts, you can ensure a smooth experience. So, grab your photo ID, keep your check in mint condition, and go get that cash with confidence.