how to cash a cheque without a bank account uk

5 Ways to Cash a Check Without a Bank Account

Call to verify a legitimate company issued the cheque. Bring your identification and the valid cheque to a cheque-cashing location. Be prepared to pay a fee, which varies depending on the service. The address on the cheque might have to match the address on your identification. Mar 23, The cheque amount will be available immediately, instead of waiting three days for it to clear at the bank. No bank account required. Cheques can be paid out in cash, which means a bank account isnt required to receive the money. Convenience. Users dont have to travel to a bank branch to cash the cheque.

Credit Cards. Explore the best credit cards in every category as of April Get started! Check out our top picks of the best online savings accounts for Withoht Get Started! Explore our picks of the best brokerage accounts for beginners for April Before you apply for a personal loan, here's what you need to know.

The Ascent is reader-supported: we may earn a commission from offers on this page. Terms may apply to offers listed on this page. Fortunately, when you qithout your check, you won't be stuck with a worthless piece of paper. There are several ways you can turn it into cash that you can actually use, but some of them carry a fee. Here are a few you can look into.

This won't help with your stimulus check, but you can always visit the issuing bank, assuming there's a branch near you. If you need to cash a paycheck or a check you received from someone else, many branches will readily cash it, ul if you don't bank withoutt them. This is because they can verify that the account the check is drawn from has the necessary funds. But some banks don't allow this and some may charge a fee for doing so. The bank may ask for a government-issued ID before it cashes the check to verify that you are the person it's addressed to.

Most checks should list the issuing bank, but if you don't see it, you can always try looking the bank up by its hpw number online. This is the first number ccash on the bottom of chsque check. Once you know the bank, you can find the branch nearest you. If it's an online bank, you may be out of luck chequw not all of them have branches. Some big box and grocery store chains enable you to cash your checks, including payroll checks and government checks, at their stores.

There's a small fee and you can only cash up how to teach your child the times tables a certain amount, which varies by store. But it's usually a few thousand dollars, so unless you need to cash a five-figure sum, you should be fine. Do some research online or inquire at the store to see if cashing checks is an option, and if so, what the store charges for doing so.

You can compare these to the cost of cashing a check at how to cash a cheque without a bank account uk issuing bank or at a payday lender, discussed below, but retailers usually offer a pretty fair price.

Payday lenders are used to taking people's checks and doling out cash without asking too many questions and they'll most likely cash your check for you if you wwithout it there. But this what does pull someone mean unlikely to be your most affordable option. Payday lenders are iwthout for charging high fees and they're no different when it comes to cashing checks. You might walk away with ti cash than you would if you went to a retailer or the issuing bank, so use this as a last resort.

Some banks enable you to cash your checks at their ATMs how to make yogurt from soy milk load the money onto a wiithout debit card that you can use to make purchases.

This is an option worth considering if you don't want to worry about waiting in line at a bank branch or a retailer every time you need to cash a check. But like the other options listed here, it's not without fees. These accounts usually carry a monthly service fee and that could eat into your profits even more than a per-check fee if you're not getting checks that often.

If you have a friend or family member what is the movie spotlight about has a bank account, you could endorse dithout check over to them by writing on the back of it that you would like the money deposited into that person's account. Then, your friend can deposit the funds and how to cash a cheque without a bank account uk you your cash. This option might get you out of paying a fee, but you're putting a lot of faith in the person you're handing the check aa to.

Ot the money's in their account, it's mostly on the honor system for them to give your money back accounr you. You willfully signed the check over to them, hpw banks aren't going to be much help if your accounr doesn't pass the money on to you. At least one of these options should appeal to you, but if they all sound too complicated, consider opening a free checking account with a nearby branch.

That way you won't have to jump through as many hoops the next time you need to cash a check. Many people are missing out on guaranteed returns as their money languishes in a big bank savings account z next to no interest. The Ascent's picks bajk the best online savings accounts can earn you more than 12x the national average savings account rate.

Click here to uncover the best-in-class picks that landed a spot on The Ascent's shortlist of the best savings accounts for On American Express' Secure Website. APY: Up to how to cash a cheque without a bank account uk. Best For: No monthly maintenance fee. Kailey is an industry specialist covering bank accounts, credit chequf, and all things personal finance. The Ascent does not cover all offers on the market.

Editorial content from The Ascent is separate from The Motley Fool editorial aa and is created by a different analyst team. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. By submitting your email address, you consent to us sending you money tips along with products and services that we think might interest you.

You can unsubscribe at any time. Advertiser Disclosure We do receive compensation from some partners whose offers appear on this page. We have not reviewed all available products or offers. S may impact the order in which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. Search Icon Click here to search Search For. Credit Cards Top Picks. Looking for a new credit card? Banking Top Picks. Looking for a place to park your cash?

Brokerages Top Picks. Just getting started? Loans Top Picks. Thinking about taking out a cah Mortgages Top Picks. Knowledge Knowledge Section. Recent Articles. The Ascent Knowledge Banking.

Image source: Wirhout Images. Visit how to cash a cheque without a bank account uk issuing bank This won't help with your stimulus check, but you can always visit the issuing bank, assuming there's a branch near you.

Go to certain retailers Some big box and grocery store chains enable you to cash your checks, including payroll checks and government checks, at their stores. Try a payday lender Payday lenders are used to taking people's checks and doling out cash without asking too many questions and they'll most likely cash your check for you if you take it there.

Consider a prepaid card caeh Some banks enable you to cash your checks at their ATMs and load the money onto a prepaid debit card that you can use to make purchases. Endorse it to a friend If you have a friend or family member that has a bank account, you could endorse the check over to them by writing on the back of it that you would like the money deposited into that person's account.

These savings accounts are FDIC insured and can earn you 12x your bank Many people are missing out on guaranteed returns as their money languishes in a big bank savings account earning next to no interest.

Two top online savings account picks Rates as of March 11, Ratings Methodology. Rating image, 5. Facebook Icon This icon shares the page you are on via Facebook. Blue Twitter Icon Share this website with Twitter. Email Icon Share this website with email. Featured Articles. Best Online Savings Accounts for Is it Time to Switch Banks? Back to The Motley Fool. Member, FDIC. Which is why our ratings are biased toward offers that deliver versatility while cutting accunt costs.

Our ratings are based on a 5 star scale. Read Review. APY: 0.

Ask an Expert

At H&T Pawnbrokers, we can instantly cash your cheque on the spot for a small fee no more waiting days for cheques to clear, and you can do it without a bank account! We offer personal cheque cashing, as well as cashing for wages, solicitors, pools, giro, insurance, lottery, Inland Revenue, and building society cheques. Jan 23, You can deposit your cheques there and then draw it out as cash or pay using your card. You will find living without a bank account very hard and inconvenient these days - employers do not like paying by cheque/cash and you usually need an account to receive such monies. It would be much easier and less costly for you to open up a bank account. Aug 24, If the bank doesn't offer check-cashing services and it's a large check, consider asking the person to give you a money order or a cashier's check instead. These check types are pre-paid and are typically easier to cash than personal checks.

We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.

The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site.

We do not include the universe of companies or financial offers that may be available to you. At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens.

We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site.

Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. If you have a checking or savings account at a federally insured bank, you should have no trouble cashing a check there.

But for the millions of people without a bank account, check cashing is not as easy. Approximately 8. There are ways to cash a check without a bank account, but they cost more money, often require more time and involve more risk than check cashing at a bank where you have an account.

Here are five options:. Banks and credit unions are not required to cash checks for non-customers, but many banks will cash a check payable to a non-customer if the check is written by an account holder at that bank. There are a few requirements though. For one, there must be enough money in the account the check is written against to cover the check. The payee also should expect to pay a fee. And there may be restrictions, such as limits on check amounts and refusal of two-party personal checks.

Checks that are six months old or more might be declined. There are a number of big retail stores like Kmart, Walmart and grocery chains that offer check-cashing services. Joining the program is free. Grocery chains often provide check-cashing services. Prepaid cards are similar to checking account debit cards. Your spending is limited by how much money you have loaded onto the card.

Prepaid cards have different options for check cashing. Some prepaid cards let you set up direct deposit so that checks are automatically loaded onto the card. Other cards come with an app that lets you snap a picture of your check to load it onto your card. Or, you might be able to deposit your check at an ATM to load the money onto the card. Fees are a big drawback of prepaid cards. Reload fees can be steep. Sometimes, prepaid card fees are scaled according to how quickly you want your money, and you can get dinged for expedited availability.

Check-cashing outlets are probably the most expensive places to cash checks. In addition to a membership fee, they might charge a first-time use fee. Fees to cash a check can range from 1 percent to 12 percent of the face value of the check. Some businesses charge a flat fee on top of the percentage. Not only are check-cashing stores exorbitantly expensive, there is a risk of deceptive practices.

The Better Business Bureau, for example, alerts consumers to a scam whereby customers of a check-cashing store are called by someone who claims to represent the business. The caller offers the customer a loan and requests payment to secure the loan. Of course, the loan is never received and the customer of the check-cashing store gets scammed out of some cash. Make sure the person you want to sign it over to is willing to cash the check, and that his or her bank will cash it.

You should accompany your trusted friend to the bank in case the teller requires your ID or has questions about the check. The person must have the proper identification and be prepared to have his or her check dinged by a check-cashing fee. There is also a personal and financial safety risk. Paper checks and cash can be lost or stolen. Unlike the consumer who has a bank account and direct deposit of their income, unbanked consumers almost have to plan ahead to cash their checks and access their money.

But there will be fees and restrictions. And there are risks associated with carrying checks and cash. The best way to cash checks is by opening a checking or savings account at a federally insured bank or credit union, then setting up direct deposit of your payroll check, tax refund, pension benefit and other income.

Not only is it safer and easier, it will cost you less. How We Make Money. Share this page. Key Principles We value your trust. You may also like The problem with payroll cards. Ditch checking for a prepaid debit card?

Should your tax refund go on a prepaid card?