What Checks Into Cash does

Checks Into Cash is a check-cashing chain with locations across the United States. You bring a paycheck or other check, and they give you cash on the spot — usually within minutes. They charge a fee for this service, which is a percentage of the check amount or a flat dollar amount, depending on the check type and your location.

The company also offers payday loans, title loans, and other short-term borrowing products at their locations. This guide focuses on the check-cashing service itself, since that is what most people use them for.

Key Takeaways

  • Checks Into Cash charges a fee to cash your check immediately, ranging from a few dollars to a percentage of the check amount depending on check type and location.
  • You need a valid government-issued ID and the check must be made out to you; post-dated checks are usually not accepted.
  • The fee you pay is higher than a bank would charge, but you get cash the same day without needing a bank account.
  • Payday loans through Checks Into Cash carry much higher costs than check cashing and should be considered carefully before use.

How the fee structure works

Checks Into Cash charges different fees depending on what kind of check you are cashing. Paycheck fees are typically lower than fees for personal checks, tax refunds, or other types. The fee may be stated as a flat amount (for example, $5 or $10) or as a percentage of the check amount (often 1% to 3%).

The exact fee varies by location and changes over time, so you should ask at your local store or call ahead before you go. Some locations may offer lower fees for first-time customers or during promotional periods. The fee is deducted from the cash you receive — you do not pay it separately.

Because the fee is taken from your check amount, a $500 paycheck with a $10 fee means you walk out with $490 in cash. This is different from a bank, where cashing your own paycheck costs nothing.

What you need to bring

You will need a valid government-issued photo ID — a driver's license, passport, or state ID card. The check must be made out to you by name, and your name on the ID must match the name on the check closely enough that staff can verify it is yours.

Post-dated checks (checks dated for a future date) are generally not accepted at Checks Into Cash. The check must be dated today or earlier. If you have a check from an employer that has not cleared yet, call ahead to confirm whether that location will cash it.

You do not need a bank account to use Checks Into Cash. This is one reason people choose check-cashing stores over banks — they can get cash immediately without opening an account or waiting for a deposit to clear.

How Checks Into Cash compares to banks and other options

A bank will cash your own paycheck for free if you have an account there. If you do not have an account, many banks will cash a check for a small fee or will not cash it at all. Checks Into Cash charges a fee regardless, but does not require an account and does not require you to wait for the check to clear.

Walmart and some grocery stores also offer check-cashing services, often at lower fees than Checks Into Cash. Walmart's check-cashing fee is typically $3 for payroll checks and $6 for personal checks, though this varies by location. If you shop at these stores anyway, cashing your check there may save you money.

The trade-off is convenience and speed. Checks Into Cash has many locations, is open extended hours at many stores, and processes checks quickly. A bank may have fewer branches or shorter hours. A grocery store may have a line at the customer service desk.

Payday loans through Checks Into Cash

Checks Into Cash also offers payday loans — short-term loans you repay on your next payday. These are not the same as check cashing. With a payday loan, you borrow money and pay it back with a fee or interest charge, usually within two weeks.

Payday loans are much more expensive than check cashing. A typical payday loan costs $15 to $20 per $100 borrowed, which works out to an annual interest rate of 400% or higher. If you borrow $300 and repay it in two weeks, you might pay $90 in fees — money that comes directly out of your next paycheck.

Payday loans can trap you in a cycle of borrowing: you take out a loan to cover a shortfall, then when the loan is due, you do not have enough money to repay it and cover your regular bills, so you borrow again. Before using a payday loan, explore other options: asking your employer for an advance, borrowing from family or friends, or contacting a local nonprofit credit counselor.

When check cashing makes sense

Check cashing is useful when you need cash the same day and do not have a bank account or cannot wait for a deposit to clear. If you are paid by check and your employer does not offer direct deposit, cashing at Checks Into Cash gets you access to your money immediately.

The fee is a real cost, but it may be worth it if you need the cash urgently. A $10 fee on a $500 check is 2% — higher than a bank, but lower than a payday loan. If you can cash the check at your own bank or at Walmart for free or less, do that instead.

If you receive checks regularly, opening a bank account is usually cheaper over time. Many banks offer free checking accounts with no minimum balance, and cashing your own checks costs nothing. The upfront effort of opening an account pays for itself after a few check-cashing visits.

What happens if there is a problem with your check

If the check bounces (the account it was drawn from does not have enough money), Checks Into Cash will attempt to redeposit it. If it bounces again, you may be responsible for the fee and the check amount. Read the terms before you cash — they will explain what happens if the check is returned.

If you cash a check that turns out to be fraudulent or stolen, you could face legal consequences. Only cash checks that were legitimately given to you by the person or business whose name appears on it.

If you have a dispute about a fee or a transaction, contact the Checks Into Cash location where you cashed the check. If you cannot resolve it there, you can file a complaint with your state's attorney general or consumer protection office.

Frequently Asked Questions

How long does it take to cash a check at Checks Into Cash?

Most checks are cashed within minutes. The staff will verify your ID, confirm the check is legitimate, and deduct the fee. You walk out with cash the same day, which is why people use check-cashing stores instead of banks.

Can I cash a check made out to someone else?

No. The check must be made out to you by name. Cashing a check made out to someone else without their permission is fraud. If someone wants to give you money, they should write the check in your name.

What if I lost my ID?

You cannot cash a check without a valid government-issued photo ID. If your ID is lost or expired, you will need to get a replacement from your state's DMV or equivalent agency before you can use Checks Into Cash.

Is there a limit to how much I can cash?

Checks Into Cash may have limits on check amounts, which vary by location and check type. Call ahead or visit your local store to ask about their maximum. Some locations may require additional verification for very large checks.

Do I have to use Checks Into Cash if I need cash today?

No. Walmart, some grocery stores, and your own bank (if you have an account) also cash checks, often at lower fees. Compare fees at locations near you before you decide. If you do not have an account anywhere, Checks Into Cash is one option, but it is not the only one.