A check cashing service is generally a business which also provides other financial services. These often include Money Orders, handling money transfers and payday loans. Check cashing services are found all over the country and have been growing in numbers over the last few years. There are several reasons people use these businesses.
No Bank Account Needed
Most banks will not cash a check, either government, payroll or personal unless the check was written off an account held by the bank or if the person cashing the check has an account. With a check cashing service, there is no account to worry about, although many will expect to see an ID.
Better Hours
Many check cashing services are open later in the evening and on weekends, unlike banks. These extended hours make it easier for working customers to cash their checks after work or on a weekend before they go to the grocery store.
Other Services
The convenience of being able to send money instantly to creditors or family with a wire-transfer service or to purchase a Money Order at the same time, makes check cashing services alluring to busy customers.
Fast Service
These businesses are known for getting people through the line quickly. People who have grown tired of the endless wait at the bank are often the ones now walking through the doors of these services.
The Money is Yours
With a cashing service, the money (minus the cashing fee) is instantly yours. When you cash a check at the bank, you are basically just deducting it from your own account. It takes anywhere from 3-7 days, depending on the bank, before the check is actually credited back to your account.
Privacy
Banks seem to want more and more of your personal information every day. For customers who value their privacy, this invasion into their lives is not acceptable when other options exist.
If you are looking for a way to break away from your bank, consider a service like American Check Cashers. They offer payday loans, bill paying services, same day loans and much more. Check cashing customers even receive a free money order when they cash a check with them.