Walmart offers one of the most affordable check cashing services in the United States. The giant retailer covers the 50 states, while its check cashing service extends to more than half of the states. You can cash a check at Walmart in AL, AK, AR, AZ, CA, CO, CT, DC, DE, GA, HI, ID, IL, IA, KS, KY, LA, ME, MA, MD, MI, MN, MO, MT, NC, ND, NE, NH, NV, OK, OR, PA, SC, SD, TX, UT, VA, VT, WA, WV and WY.
In a way, this enables you to cash checks in regions where your bank does not have a location. It is convenient, is it not?
Think about it. If you do work in another state where your local bank is not, you do not have to look for where to cash your check. Or even worse, use those exorbitant check cashing services in corner stores. Walmart provides an easy, cheap and accessible service to cash your check.
Here is what you need to know about cashing checks at Walmart.
Walmart’s Check Cashing Policy
To cash a check at Walmart, it requires you do not exceed its check cashing limits. You can cash up to $5000 during a visit at the Walmart Money Center. During tax season, January through April, this amount is increased to $7000 to accommodate any check you may receive from the IRS.
Unlike banks which take three to five business days to clear your check, Walmart lets you cash out your check immediately.
What Kinds Of Checks Does Walmart Cash?
You cannot cash a fake check at Walmart. According to the super retailer’s check cashing policy, you can only cash the checks listed below.
1. Paychecks
These are checks from an employer. Or one, which is paid to you for services you offered. Often, these kinds of checks are pre-printed.
2. Government Checks
Walmart cashes checks from government agencies. This includes child support, tax refund, living assistance or student loan checks. Any check from the government can be cashed out in cash or card without delay at Walmart.
3. Settlement Checks from Insurance Companies
Whenever you receive a settlement in form of a check from an insurance company, you can cash it at Walmart. If not, your bank can help you do it. But, remember banks take a few business days to clear.
4. Money Orders
Money order is a form of payment. It is an order to any check cashing service, to pay a certain amount of money to you. Walmart cashes money orders.
5. 401k, Retirement Disbursement Checks
These are checks from your retirement contributions. Or any retirement fund you may have. Whether it is social security or any other form of retirement payment in the form of a check, you can cash that check at Walmart.
6. Cashier’s Check
A cashier’s check is the kind of check guaranteed by a financial institution to cash. This is because it is backed by the financial account of the issuing financial institution.
Cashing a cashier’s check at Walmart is not a problem. To cash a cashier’s check at walmart, you just walk into their Money center or care service.
7. Two-Party Personal Checks
A two-party personal check is a type of check issued by one person to be payable to two people or one of two people. The check often use “or’ and “and” to say who could cash the check. Yes, Walmart can cash this kind of check too. However, this is limited to only $200.
In addition, two-party personal check cashing cannot be cashed in all the states where Walmart is located. It can only be in AL, AK, AR, AZ, CA, CO, DC, GA, ID, IA, KS, KY, LA, ME, MA, MI, MO, MT, NC, ND, NE, NH, NV, OK, OR, PA, SC, SD, TX, UT, VA, VT, WA and WY. I just thought I would bring this to your attention.
Also, Walmart has a good check verification system to weed out fake checks. Here is what I mean below.
How Walmart Verifies Checks Before Cashing
Walmart verifies checks before cashing. To avoid fraud, it uses three verification processes to cross-check your check.
Firstly, the requirements for cashing a check at Walmart is a legal form of identification and a legal check. Usually, a driver’s license or government id will suffice. This is for capturing your information, in case of a fraud.
Then, your check is verified through two check verification systems: Telecheck and Certegy Check authentication systems. When these two clear your check, Walmart pays you.
How Much To Cash A Check At Walmart
Walmart check cashing fee depends on the amount you are trying to cash. You will be charged up to $4 for check amount of up to $1000. Also, you can be charged up to $8 for check amount exceeding $1000.
The same fees goes for Walmart cashier check cashing. Or, any other form of check. Overall, just bear in mind the fees will not exceed the amount here.
Walmart Payment System
Once you are cleared to cash out, Walmart offers two ways to getting your cash. The first method is cash payment, while the second is card payment. To elaborate on the latter, Walmart lets you get their Moneycard and load money on it.
In addition, Walmart charges you $1 to get its Moneycard. After this, you are charged a monthly fee of $5.94 for monthly usage. However, this fee can waived whenever you make a monthly deposit of $500 or more on the card for usage.
Finally, Walmart will not charge you a fee for depositing cash from your checks on its card. Personally, I would just take my cash and split, rather than loading money on a Moneycard with a monthly expense. Call me shrewd, but hey that is me!
Walmart Check Cashing Service Hours
Walmart does not cash checks 24 hours a day. I guess you would say it is a disadvantage. But, who walks around at midnight trying to cash a check?
Anyways, Walmart check cashing service is open from Monday through Sunday. The hours on Monday through Saturday are 8am to 8pm. On Sundays, it is open from 10am to 6pm.
What Makes Walmart Check Cashing Service Convenient?
Besides its open hours, I sincerely believe Walmart Check Cashing Service is cheaper than most check cashing places out there. Did you know the money center in Walmart stores offer other services, besides check cashing?
Well, you can get a cashier’s check from Walmart. This is called Money Orders though. It costs about a $1 to get it.
As always, I will recommend you to cash your checks at your bank since your bank may not charge you for it. My bank does not charge me, however there is a three business day wait on it. This is why Walmart is a good option, if you are trying to have access to your check fund as soon as possible.
How To Graduate Nursing School Completely Debt-Free