Do you want to cash your check online or not? Getting a check isn’t the most convenient way to get paid, yet many companies, organizations, and individuals still choose to pay by check.
The most popular way to cash a check is going to the bank which can be really stressful. If you’d prefer to cash your check online, here are the best options available for you.
Where Can You Cash a Check Near You?
You have the physical check in hand and need to know where to go. Let’s look at your options.
1. Your Bank or Credit Union
Your own bank is the best option if you want to cash a check. When you have an account, there are usually no fees—based on the amount of the check—and some banks even offer the option to cash a check at an ATM.
With a bank or credit union, you might not receive all the funds immediately based on your bank’s policy—they’ll deposit the rest in your account when available.
But at least there are typically no fees and lots of convenience in the process.
2. The Bank which Issued the Check
Another option is to go to the bank that issued the check. This is usually the cheapest option beyond your personal bank, but there’s still a fee sometimes.
You’ll generally pay around $7 – $8 to cash the check from an issuing bank in the US. However, some charge a percentage that can cut deep into the amount on the check, so review the bank’s fee policy for non-customers before cashing.
The bank logo and address information should be located just below the check amount line. From there, you can find a local branch of that bank, endorse the check, and cash it there.
3. Supermarkets or Retail Stores
If you’re in a rush and willing to pay a small fee, some retail outlets and many grocery stores offer check cashing services. Simply visit the service desk and show a valid ID, and they’ll cash almost any type of check—some won’t cash a personal check.
What Stores will Cash a Check?
Here’s a shortlist of retail stores and supermarkets that will cash a check, but there are many more out there.
Stop & Shop
4. Payday Loan Stores
There are many Payday Loan Stores in the US that will also cash a check, but this might not be the best option. These check cashing stores often don’t list the fees on their website and charge a percentage of the check amount.
In a percentage scenario, retail or grocery stores are always a better option to save money. For example, even at 1%, cashing a $2,500 check would cost you $25. Why pay that much when Walmart charges a fee of $8 max, and Kroger would charge a fee of $7 with a membership card?
To be clear, if you want to cash your check and get cold-hard cash in your hand, then you’ll need to go to a physical location.
However, there is an online check cashing options available—like PayPal and Venmo. With these services, simply download their app on your smartphone and navigate to the check cashing option.
From there, endorse the check, enter the amount into the app, and then it will prompt you to take a photo of the front and back of the check. After that, your money will be available in 10 days
Step by Step Method to Deposit or Cash a Check
Visit a major retailer or use your bank’s services. If you don’t have a bank account, go to the bank that’s listed on the check or to a major retailer like Walmart. If you’re a bank customer, visit one of your bank’s branches or ATMs, or make use of a mobile deposit through your bank’s app, if it’s offered.
Endorse the check. Just before cashing or depositing the check, sign the back with your name on the line with the X.
Hand over the check with ID or a bank card. If you don’t belong to a bank, you’ll likely need to show a retail clerk or bank teller your identification, such as a state-issued driver’s license or other government ID. Then hand over the check and get your cash. If you’re a bank customer, you can go to an ATM or bank teller and present your debit card and the check. A teller might also ask for ID. The check will get deposited first to your account and then you can withdraw cash.
Can I Cash a Check Online?
Yes! The smartphone has made the process of depositing checks and cashing them online fast and swift. The downloadable apps can help you to cash your checks instantly.
A majority of these instant online check cashing services require one to link their banking information with the app.
They may also require you to write the initials (ODO) that means for online deposit only underneath. The apps also require one to take pictures of the front and the back of the check they want to cash and upload it to the app.
You can just use your smartphone or any other standard phone with a camera to take photos.
How Does the Online Check Clearing Process Work?
After taking a photo, the check then goes to a queue for approval. If cleared, the money is deposited into an account that you had linked to which could be your bank account, a prepaid card among others.
If it was not linked to any account, then you will have to take an extra step which is to transfer your money to your bank account or to where you want it.
In most cases, you are required to keep the paper version of your check safely for at least 14 days or until the transaction is complete and confirmed. Then shred the paper version afterward to avoid any financial breach issues to arise.
There are many banks across the US that offers instant online. You can consider if the bank has such a feature when opening a checking account with any bank. The feature allows you to use the online check-cashing services if you have an account with the bank.
Where to Cash a Check Online Now
Here are the best places where you can deposit a check online.
PayPal has a Cash a Check service in the PayPal app. It allows you to cash checks and have them credited to your PayPal Cash Plus account. (If you don’t have a PayPal Cash Plus account already, you’ll be asked to set one up.)
It’s really easy to do as well.
Take a photo of the check you want to cash.
Send it to PayPal for review.
If it’s approved, you can get the money sent right to your PayPal account in minutes. However, if you want the money in minutes, you do need to pay a fee.
If you don’t need the cash right away, then you can choose to get your money in 10 days with no fee.
So it’s great that PayPal gives you a couple of options here.
Learn more about cashing a check with PayPal here.
The clients receive virtual cards once they sign up and a credit check isn’t required. It offers the users a prepaid debit card. It charges no fee to sign up for the app or to get the card. With their pay-per-user plan, it does not charge a maintenance fee.
There may be other fees involved such as fees to check deposits, fees for PIN purchases, and card replacement fees. It is best used to help avoid overdrafts and monthly maintenance fees.
Chime provides mobile check deposits to members who receive payroll direct deposits of more than $200 a month. Mobile check depositing will be automatically enabled in your Chime app 30 days after you receive your payroll direct deposit.
GoBank offers no overdraft fees on its accounts, making it a great option for many. It provides mobile check deposits through its app. So you can cash checks right from your phone, and all you need to do is take a few photos of the check.
In order to start using the mobile deposit feature, you need to activate your card and your account must be active with recent recurring payroll direct deposit activity for at least two months.
Once you’re eligible, you can start cashing checks through mobile deposits. The money could be in your account in as fast as one business day, but some checks may take up to 5 business days.
There are no fees charged to deposit checks into your account, which is awesome.
Guaranty Bank offers the checks press check cashing service that allows you to cash your check online. They have different options to choose from based on whether you have an account with them or not.
The checks they can cash include payroll checks, government-issued checks, tax refunds, insurance checks, travelers’ checks, cashier’s checks, and money orders, and the total value of the check has to be under $5,000.
The fees for the account holders’ is 1.5% of the check amount and the fees for those without an account is 2.5%. Personal checks are charged 3% of the check amount for the account holders and for non-account holders, the fee is 3.5%.
Basically, you take a photo of the check, follow the on-screen instructions, and have your check deposited into your account. The service is called QuickDeposit and there are no fees for using it.
Deposits that are submitted before 11pm Eastern Time on a business day are usually available by the next business day. Deposits that are submitted after 11pm or on a non-business day will be processed the next business day.
Next on the list, we have NetSpend. It’s an organization that offers a selection of prepaid debit cards. And, of course, it provides check to cash. NetSpend allows you to cash checks to your card using its Mobile Check Load feature.
All you need to do is get the app, take a photo, and follow the on-screen instructions – so again it works in much the same way as the apps above.
You can use the Bank of America app to deposit checks, which is great. Most of these apps work in a similar way. And this one is no different. You’ll need to take a photo of the check and follow the on-screen instructions in the app to get your money.
Brink’s Money Prepaid is a prepaid card account that comes along with a check-cashing feature. If you enroll in direct deposit, you can deposit checks without having to wait in line. You can cash paychecks, and benefit checks with it.
With Brink’s Money Prepaid app, you can load checks right from your phone using mobile image capture. If you want your money fast, then you may be charged a fee for the transaction.
Download the Brink’s Money Prepaid app for Android devices here.
Download the Brink’s Money Prepaid app for iOS devices here.
It’s important to note that although many of the apps above don’t charge you a fee to deposit your check, there may still be wireless carrier fees charged by your service provider. So do make sure you check with your service provider to see if they do charge any wireless carrier fees.
Money Mart is another option that allows you to access your money nearly instantly and does have physical locations across the US if you do need to walk in.
Their app is available on both platforms and you are able to upload checks as you would with the others previously mentioned.
US Bank App
With the US Bank app, you can deposit checks 24/7. All you need to do is take a photo of your check and follow the instructions to get your cash. If you make a deposit by 9 p.m. CT, the balance is usually posted to your account the following business day.
Download the US Bank app for Android devices here.
Thanks to smartphones and convenient apps it has never been easier to cash a check online. Even if your bank didn’t appear on our list, it’s definitely worth checking if they have an app that you can use to deposit checks from your phone.
And keep in mind that even if your bank doesn’t provide an online check cashing service, you can still use websites like PayPal and Ingo Money to deposit your checks.