Check to cash? (loans, union, credit, paycheck) - Economics - City-Data Forum

brunodog · 12-13-2009, 01:13 PM

Hi, I recently got a paycheck at work and I would like to change my check into cash without creating a checking account.

Is this possible or Is there a way to change check into cash?

Sorry for the stupid question

.

myrc60 · 12-13-2009, 01:20 PM

Go to the bank the check is written on; they have to cash it and you shouldn't need an account of your own to do it.

Des-Lab · 12-13-2009, 01:22 PM

Two options I can think of.

1. Go to any check cashing place. They will almost always do it as long as you have valid ID. I think they charge a hefty fee though, something like 5%.

2. If there is one near you, you can go to a branch of the bank that the check is written on (i.e. BofA, Union Bank, etc.). They will almost always cash it with the same requisite ID. And the fee-if there is one-will be a lot smaller, around $5 or so.

brunodog · 12-13-2009, 01:25 PM

Wait, so I have to pay $5 to cash out?

... I guess I'll make an account later on.

myrc60 · 12-13-2009, 01:28 PM

Quote:

Originally Posted by brunodog

Wait, so I have to pay $5 to cash out?

... I guess I'll make an account later on.

In most cases no, you won't; but it is possible.

You can also go to Walmart who will cash it for a fee as well.

Grandpa Pipes · 12-13-2009, 03:52 PM

A smart and savvy person joins , and uses, a Credit Union for all their banking needs. No fees to cash a check, no fees for a checking account , matter of fact no fees for much of anything really. The reason is the CU members own these types of banking institutions! Whatever profits a CU earns is used to make loans to members or pay the help.

brunodog · 12-13-2009, 05:58 PM

Thanks for the kind response!