What is Check Cashing?Check cashing businesses offer quick, convenient and personal solutions for people needing access to their personal finances. Check Cashing businesses serve millions of people of all income levels, every day, all across the United States. In recent years Check cashing businesses have evolved in both name and function. In addition to offering the basic service of Check Cashing, many check cashing stores now dub themselves as financial service centers, money service businesses, or neighborhood financial centers to reflect the diverse number and types of services they offer their customers.
What types of checks do Check Cashing Businesses cash?
- Payroll Checks
- Personal Checks
- Tax refund checks
- Unemployment Checks
- Welfare Checks
- Social Security Checks
- Government Checks
- Official Checks
- Settlement Checks
- Insurance Checks
- Cashiers Checks
- Two Party Checks
- Business Checks
- Checks payable to your business.
What other services do Check Cashing Businesses offer?
Check Cashing businesses often call themselves financial service centers for good reason. These businesses tend to offer a variety of financial services that may include:
- Payday Loans and other types of Loans.
- Money Transfers
- Bill Payments
- Money Orders
- P.O. Boxes
- Stamps, envelopes, and mailing services.
- Notary Public
- Currency Exchange
- Prepaid debit and credit Cards
- Public transportation passes and tokens.
- EBT services
- Photocopying and Faxing services
- ATM machines.
- Motor vehicle renewal and registration.
Why use a Check Cashing Business?
There are many advantages that Check Cashing, and other financial service businesses have over Banks and other traditional financial institutions. Some of these advantages include.
- Convenient hours of operation, usually open earlier and longer than banks.
- Quick Access to Cash
- No holds on your checks
- No lines
- Great customer service
- Low fees
- Multiple financial services.
Who visits Check Cashing stores?
People use check cashing and other financial service business for their convenience, friendly customer service, as well as their ability to cater to several financial needs all at once. It is not uncommon for a customer to cash their paycheck, pay all of their utility bills for the month, pay their car payment along with their rent or mortgage payment, and add funds to a secure prepaid Visa® or MasterCard®, all in one short visit. Check Cashing companies usually offer membership programs that make these transactions even easier for returning customers. They also usually involve benefits and discounts for loyal customers.
Small business owners often take advantage of the services offered by check cashing Businesses as well. Many small businesses suffer from cash flow problems due to banks placing holds on their funds. Banks may also limit the amount of cash they give to customers on a per day basis as well. If you own a small business, you are familiar with the limitations that banks have on servicing your cash needs. If you have a check payable to your business, a Check Cashing business can serve as a valuable tool for you success.
How much does it cost to cash a check?
Just like any other business, check cashing businesses often compete with each other in regards to what they charge their customers. So you’re more than likely to find a good deal when cashing a check. Feel free to use our free Check Cashing and Payday Loan Locator to shop around for a good deal. On top of that, there are regulated sets of fees that check cashers are allowed to charge you when cashing a check or getting a loan. Make sure that the check casher discloses their fees when using their services.