Retail and convenience stores throughout the country offer payroll check cashing services. Companies also specialize in providing check cashing and other non-bank financial services to consumers. The fees for cashing a payroll check vary significantly depending on the establishment.
Wal-Mart cashes payroll checks up to $5,000. The fees are based on the amount of the check. As of 2015, the fee is $3 for checks up to $1,000 and $6 for checks from $1,001 to $5,000. According to Walmart.com, you can cash a check by presenting it at any checkout lane. The funds can be paid out in cash or loaded on a prepaid Wal-Mart MoneyCard reloadable card. If you choose to load a Wal-Mart MoneyCard, the $3 reload fee for the card is waived. You'll need to bring government-issued photo identification, such as a driver's license, to cash the check.
The Money Services department of Kroger cashes payroll checks up to $5,000. The fees for check cashing vary based on the location, but are limited to $5 at most. Checks are cashed instantly, with no waiting period. You can receive the money in cash or load it onto a reloaded prepaid debit card. Kroger also waives the reload fee for prepaid cards when you choose to use the funds from a check.
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Some 7-Eleven stores provide cash checking services 24 hours a day through self-service Vcom kiosks. The first time you use the kiosk, you create a membership account by entering your personal information, including your full name and Social Security number. You'll need to enter information from the front of the check and insert the check into the kiosk. The information is validated through an online process. You'll receive the cash directly from the kiosk. A 0.99 percent convenience fee is charged for the service.
Amscot cashes payroll checks up to any amount, according to Amscot.com. Fees to cash a check at Amscot are significantly higher than retailers and convenience stores. The fee is based on the check amount and type of check. For example, the fee to cash a computer-generated local payroll check of $500 is $11.85. For checks over $1,000, the fee is 2 percent of the check. If you're cashing a $5,000 check, the fee is $100. For handwritten and out-of-state payroll checks, the amount is 4.5 percent of the check. You'll need to bring a government issued photo ID.
Check Cashing Stores
Certain stores specialize in cashing checks, but also may offer additional services like payday loans and bill payment services. Check cashing stores generally charge more for the service than convenience stores and grocery stores, often around 2 to 3 percent of the check amount. For example: