When receiving any type of check, many people think that they can simply walk into their nearest chain store or bank, hand it over and receive its cash value in hand. While the process has generally been made as convenient as possible, a few different check cashing policies have been put in place to help prevent any form of check fraud from taking place, some of which will be discussed here.
Policies Vary by Location
After receiving a check, you will have to decide where the most convenient location will be for you to cash it. Check cashing policies will vary depending on where you attempt to cash them as well. For example, some types of checks can only be cashed at specific stores or check cashing locations. Personal checks can be more difficult to cash than other checks, as there are far fewer locations that are normally willing to process them. Most check cashing locations are willing to cash wage or salary checks, government checks and insurance checks though.
Places That Cash Personal Checks
There are many places that cash personal checks – sometimes also referred to as handwritten checks. However, there may be terms and conditions to adhere to before they will be willing to provide this service to you. For example, Kmart will only cash personal checks up to the value of $500. Giant-Eagle also cashes personal checks, but the company stipulates that you must either apply for or already be in possession of a Giant Eagle Advantage Card before they will be willing to cash any personal (or other) checks for you.
Other popular store locations that are normally willing to include personal checks as part of their check cashing policies include Publix and Ralph’s. There are also numerous dedicated check cashing stores available that provide this service, including Ace Check Cashing, Check Into Cash, Check Smart, Friendly Check Cashing (some states only), Money Mart, PLS Check Cashing, Publix and the vast majority of banks and credit union branches.
Locations That Cash Other Types of Checks
These days, there is more choice than ever before when it comes to being able to cash all types of checks. A large number of store locations and other centers that cash other types of checks as part of their check cashing policies include Country Mart, Food Lion, Dillons, Fry’s Foods, Fred Meyer, Hannaford, King Soopers, Market Basket, Kroger, Speedway, Meijer, Walmart, WinCo and Wegmans.
What to Expect with Regards to Check Cashing Policies
When attempting to cash a check at any of the above mentioned locations, there will usually be an array of store-specific terms and conditions that will need to be adhered to. Regardless of whether you are going to cash a check at a bank, credit union, check cashing store, supermarket or any other location, you will be required to provide at least one form of photo identification at the time. This helps prevent any form of check fraud from taking place, and it also confirms that you are indeed the owner of the check that you are attempting to exchange for cash.
Some locations that cash checks may only be willing to process those that are up to and including a pre-specified amount. For example, Walmart is known for only cashing checks up to a face value of $5,000 at specified times of the year and $7,500 during the rest of the year. There may be cases where you will have to endorse or sign the check in the presence of a store manager, bank employee or credit union representative as well. The best way to determine what the particular check cashing policies are of the location you intend using is to call ahead of time to confirm. This will save a significant amount of inconvenience on your part.
When reading up on check cashing policies, you will also discover that the check in question will need to be 100% legible and not damaged in any way. If your check is damaged, you may have to contact the bank or institution that originally issued it and request a replacement check. Depending on the type of check and the amount that it has been made out for, this process can take a few days to complete.