Cashing Personal Checks

Deciding where to cash a personal check when you do not have a bank account or when you are in a location where your bank does not operate can be quite a challenge. Many places that cash personal checks charge a hefty sum and with new banking policies, even trying to cash personal checks at the bank under which they were drawn can cost you. In some cases, banks charge more to cash personal checks than a local check cashing store. These fees are sometimes waived if the check is drawn under a business account, but personal checks are usually handled differently.

The best place to start when trying to cash personal checks is to call or stop by the bank the checks are drawn under to find out if they are able to cash them for you - and, if so, what the fee is. If the bank itself is not an option, look for local places that cash personal checks. Some check cashing locations charge more than others, so it pays to ask a few different places before making a decision. If you are using the internet and calling ahead to decide where to cash a personal check, be sure to let the customer service representative know if the check is one from out-of-state.

While there is no shortage of places that cash personal checks, terms and conditions have changed over the years so it is important to find a place that is able to serve your needs - especially if you intend to cash personal checks on a regular basis. Some check cashing franchises offer loyalty incentives and discounts to folks who cash personal checks or payroll checks with the same company, so ask your local shop if they participate. In some cases, because of monthly banking fees and account minimums, cashing checks with local places that cash personal checks or business and payroll checks can be less expensive than maintaining a bank account. And in these sometimes troubling economic times, every penny counts.

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