Checking your mailbox and finding a 15,000-dollar check can be an exciting surprise. You may be eager to take that check straight to the bank, but cashing a check with that large of an amount comes with some important considerations.

Going through your bank is often the safest bet. In this comprehensive guide, we’ll walk through all of your options for cashing a $15,000 personal or business check.

We’ll also provide tips on how to cash the check safely and avoid potential fees or fraud.

Banks are equipped to handle large transactions and have the necessary security measures in place to ensure your funds are protected. Here’s a detailed guide on how to cash your check at your bank.

If you don’t have an account, you may need to open one before you can proceed with the transaction. Once you have an account, follow these steps:

Therefore, it’s always a good idea to call ahead and inquire about any specific requirements. Banks take security seriously, especially when it comes to large transactions.

These protocols may include: These security measures are in place to safeguard against fraudulent activities and ensure the integrity of the banking system.

One thing to be aware of when cashing a 15,000 dollar check is the possibility of a hold being placed on the funds. Banks often place holds on large check amounts to protect against potential fraud or insufficient funds.

It’s always a good idea to inquire about any potential holds before cashing your check. This way, you can plan accordingly and ensure you have access to your funds when you need them.

Cashing a 15,000-dollar check at your bank is a straightforward process, but it’s important to be aware of the security protocols and potential holds that may come into play. By understanding these factors, you can ensure a smooth and hassle-free transaction.

These stores are often found in various neighborhoods and are easily accessible. Check cashing stores offer a range of services beyond just cashing checks.

These establishments cater to individuals who may not have a bank account or prefer not to use traditional banking services. One popular check-cashing store is ACE Cash Express.

Another well-known check-cashing store is MoneyGram. They have a wide network of locations worldwide and provide check cashing services for both individuals and businesses.

Check cashing stores typically charge a percentage of the check amount as a fee. The exact fee can vary depending on the store and the type of check being cashed.

MoneyGram’s fees can range from 1% to 3% of the check amount. It’s essential to inquire about the fees before proceeding with the transaction to ensure you understand the cost involved.

One major drawback is the higher fees compared to traditional banking services. The fees can quickly add up, especially for larger checks like a $15,000 check.

Since check cashing stores deal with large amounts of cash, they can be a target for criminals. It’s important to choose a reputable and well-established check cashing store to minimize these risks.

Before deciding to cash a 15,000-dollar check at a check cashing store, it’s worth considering alternative options such as opening a bank account or exploring other financial institutions that may offer more competitive rates and services. If you’re wondering where you can cash your check, one option is to visit a retail or grocery store.

Here’s what you need to know about cashing a check at retail or grocery stores: One popular option is to cash your check at a store like Walmart.

They typically charge a small fee for this service, which is deducted from the total amount of your check. Be sure to bring a valid government-issued ID, such as a driver’s license or passport, as well as the check you wish to cash.

This means that you’ll need to buy an item from the store before they will process your check. The purchase amount can vary, so it’s a good idea to check the store’s policy beforehand.

When cashing a check at a retail or grocery store, it’s important to be aware of any check limits that may apply. These limits can vary between stores and may be based on factors such as the type of check or the amount.

It’s always a good idea to call ahead or check the store’s website for information on their check-cashing policies and any limits that may apply. Remember, while cashing a check at a retail or grocery store can be a convenient option, it’s important to consider the fees and requirements associated with this service.

However, if you don’t have a bank account or need immediate access to the funds, cashing your check at a retail or grocery store can be a viable solution. Cashing a large check can be an exciting experience, but it’s important to take the necessary precautions to ensure a smooth and secure transaction.

Before cashing a large check, it’s crucial to validate its legitimacy. Look for security features such as watermarks, holograms, or specialized ink that indicate the authenticity of the check.

Be cautious of any checks that seem suspicious or too good to be true. When cashing a large check, it’s important to inquire about any fees associated with the transaction.

By asking about fees upfront, you can avoid any surprises and make an informed decision about where to cash your check. Additionally, consider negotiating the fee if possible.

Many banks offer mobile apps that allow you to deposit checks directly into your account using your smartphone. This eliminates the need to physically visit a bank or check-cashing establishment.

If you prefer to cash a large check in person, consider visiting a bank or credit union where you have an account. These financial institutions are more likely to cash large checks, especially if you have sufficient funds in your account.

If you don’t have an account with a bank, you can also visit a reputable check-cashing store, but be sure to compare fees and reviews beforehand. By following these tips, you can safely and efficiently cash a large check, ensuring that you receive your funds without any issues.

One convenient option for cashing a large check is through a mobile check deposit. Many banks offer this service, allowing you to deposit checks using your smartphone or tablet.

The funds are typically available within a few business days, making it a quick and secure way to access your money. If you’re unable.

Approximately 5.9 million households are unbanked, which means they do not have an account at an insured financial institution, according to the Federal Deposit Insurance Corp’s 2021 National Survey of Unbanked and Underbanked Households. So where can you cash a check if you don’t have a bank account or you simply can’t get to a bank.

Even if you don’t have a bank account, you still have options if a paper check lands in your hands. First, learn how to cash a check.

You can go to the bank or credit union the check is drawn upon to cash it. You’ll find the name of the financial institution on the face of the check.

Note that many banks charge a fee for cashing a check if you aren’t an account holder there, like the following: With check-cashing apps, you can load checks via your mobile phone whenever you need to.

Once the funds hit your account or card, the money is all yours. To get started, you’ll need to download the mobile app and link it to an outside account or prepaid card.

This includes taking pictures of the check. Transaction fees and other costs and restrictions may apply and will vary according to the provider.

The minimum fee for each of these providers is $5. A bank isn’t the only place you can trade a check for cash.

Here are some stores that offer this service, the types of checks, the maximum amount they will accept and the fees they charge. Although direct deposit and payroll cards are popular ways for employers to pay employees, some employers might still hand out paper checks.

There’s no harm in asking if your employer will cash your paycheck for you. Cashing a check at a check-cashing outlet, such as The Check Cashing Store, ACE Cash Express or United Check Cashing, is likely the most expensive option.

Percentage fees can add up quickly even when they’re as low as 1% to 4%. For example, if you cash a $1,500 check, you could pay from $15 to $60 in fees, depending on the percentage the fee is based on.

You might be able to save if you shop around. Cashing a check outside of a bank where you have an account involves a lot more than endorsing the check and handing it over to get fee-free cash.

Expect to pay a fee for check-cashing. Start by going to the issuing bank first.

If you don’t want to travel to the issuing bank, look for a retailer that charges low fees to cash checks. You’ll need at least one form of valid identification to cash your check at a business.

Here are some different types of documentation or identification you might need when you try to cash a check: You may not be able to cash certain types of checks, depending on where you go.

Here’s a list of check types that you might find difficult to cash: Having a checking account can provide you with a variety of benefits that cashing checks at retailers, check-cashing outlets or the checkwriter’s bank can’t.

Here are a few benefits to consider: Depending on how often you find yourself needing to cash a check and access your money, it will likely be easier to open a checking account.

Many of the best checking accounts available have no fees. The best place to cash a check is at your own bank.

Even though it might seem convenient to cash checks at your local grocery or check-cashing store, you’re undoubtedly spending more than you need to. For example, if you fork over a $4 fee each time you cash your biweekly check, which you’ll get 26 times per year, you’ll end up losing $104 per year minimum in check-cashing fees.

If you pay a fee of 2% — which equals $30 on each $1,500 check — each time you take your biweekly check to the check-cashing outlet, you’ll pay $780 in check-cashing fees per year. Handing over that $780 is the equivalent of flushing over half of one of your biweekly paychecks down the toilet.

Information is accurate as of Feb. 27, 2023.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct.

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Before the universal use of credit cards, checks were the go-to choice. Although many businesses no longer accept checks, they’re still a fairly common way to send and exchange money.

This makes using checks much easier than their using cash. So what happens when you receive a check.

Let’s chat about how it works and the best low cost or free check cashing places. Yes, that little rectangle of signed paper still has value in this day and age.

All you need to do is sign it and claim your money at a nearby check cashing place. However, it’s not always quite as simple as that—there may be fees or limitations.

So you don’t want to mess around with check cashing places that are far away or charge exorbitant fees. If you have a bank account, definitely visit there first.

They can offer this because they make money from the account you hold with them. Some banks also allow account holders to cash checks via ATM.

Since your bank may offer your fee-free check cashing privileges, you should always check there first. Credit unions are less driven by profit than banks.

If you’re already a member of a credit union, start there. Plus, many credit unions are connected to a wider “shared branching network”.

If your bank or local credit union doesn’t cash checks, consider contacting the check writer’s bank. The money is being drawn from that bank anyway, so they might be willing to cash it for you.

Their check would say their bank (or credit union) name in the bottom left corner, just above the memo line. If it says “Chase Bank,” you can stop by your nearest Chase branch and get your money.

Unless you’re a customer with this bank, they may charge you a fee to cash your check. They might have a flat rate per check ($5-10), a percentage based on the check amount (such as 10%), or a fee for higher check values (such as $10 to cash checks valued at more than $50).

As a non-customer, the bank might only offer you a prepaid debit card in place of cash. This might suit you if you don’t have any other options, but be sure to review the terms and conditions because the cards might come with monthly maintenance fees or expiration dates.

If banks aren’t an option or you’re going to be out shopping anyway, you might be able to cash your check at a local retailer. Some may do it for free, but most stores will charge some sort of fee.

The pro for the store: with more cash in the hands of their customers, you might spend more than if you weren’t able to cash your check. The con for the retailer: bad checks and check fraud are a real risk.

Each store has a different cashing policy and a quick trip to the customer service counter should give you the clarity you need to make your decision. Walmart can cash larger-value checks than many retailers and accepts a wider variety of check types.

You can cash up to $5,000 each day. The daily cashing limit increases to $7,500 from January to April to accommodate holiday money and tax refund checks.

If there’s a Kmart near you and you’re a member of their “Shop Your Way” rewards program, you can cash your check for less than $1 per check. While they accept fewer check types than Walmart, it’s more affordable.

Gas stations have had the same problem of check fraud as many retailers, so fewer are willing to cash checks nowadays. Your local gas station might still be willing to cash your check, but the travel center next to it would be a more likely bet.

The Check 21 Act, passed in 2004, allows banks to take pictures of checks in order to process them electronically. This allowed for big progress in mobile banking apps.

(If you do want your money more quickly, but don’t need the cash-in-hand, your bank or credit union might have their own app, which you can use to deposit your check. These generally process more quickly than third party apps.).

But you might not know that they can cash your check for you. (With help from their partners, First Century Bank, and Ingo Money.).

You pay a fee—1% for government and payroll checks that have a pre-printed signature, or 5% for any other checks (with a minimum fee of $5 per check). You’ll find the money in your PayPal account within three business days.

You can cash multiple checks totaling up to $5,000 per day and up to $15,000 per month. Your money will live in your PayPal account until you transfer it to your bank account, a debit card, or a prepaid card.

If you’re willing to download an extra app, or just don’t like PayPal, IngoMoney could be a good route to take. It has a few more options for redeeming your money, including direct deposit, PayPal account, prepaid debit card, Amazon gift card, online bill pay with retail credit cards.

The deposits are nearly immediate and the bill pay goes through the next day. Using the same upload process like PayPal, you’ll pay slightly different fees.

It’s $5 for pre-printed payroll and government checks valued at less than $250, or 2% for balances higher than $250. As with PayPal, you can avoid processing fees for both check types if you’re willing to wait 10 days to receive the balance.

7-Eleven has a special app, Transact by 7-Eleven that offers all kinds of functionalities, including cashing checks. (They also use the same First Century Bank and Ingo Money technology.) If you shop at 7-Eleven often, this could be a good option.

You can use this card in-store, on gas, or anywhere that accepts Debit Mastercard. If you need the cash once the check clears, you can visit any Allpoint Network ATM or an ATM with a Trans@ct logo to withdraw cash without any fees.

Despite so many options, both in-person and on your smartphone, not much has changed over the years when it comes to cashing your check. Above all else, you need to sign the back (aka endorse it) to receive your payment.

(If you want your spouse to be able to cash your check, you need a joint bank account.). You should also verify a few areas on the front of the check front before heading to the bank or your check cashing venue of choice.

The check’s dollar amount fields—the long-form and numeric—should also match. The check writer also needs to sign the check on the bottom right corner, which essentially activates the check.

You might have issues getting the check cashed if it’s older than 180 days. That said, if you get a check that’s future-dated (for your birthday or payday), you can’t cash it until the date on the check arrives.

Especially if it’s a smaller venue, you should be able to catch a real person on the phone (as opposed to an automated system with endless key-in options). Ask about their fees, what’s needed in order to cash the check and any other information they can.

What will I learn.

Banks don’t typically charge account holders for depositing checks. So, if you have a check that you want to cash, then going to your bank where you’re an account holder is your best option.

At banks, you can typically cash most types of checks, like: If you don’t currently have a bank account, and you plan to deposit checks often, then you should definitely open one.

So, by having a bank account, you can save yourself so much money on fees. If you don’t want to or are unable to get a bank account, you may still have other options for cashing a check for free.

Much like banks, credit unions don’t typically charge their customers fees for depositing checks. At most credit unions, account holders pay nothing to cash checks.

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Please, go to the “Endorse the check to a friend or family member” section to learn more. If you don’t want to have to head out anywhere to cash your check, then try Ingo Money.

Now, if you want to get your money instantly, you will need to pay a fee. But, you have the option to wait 10 days for the funds, and if you do, you get the money for free.

Pilot Flying J has about 750 travel centers in more than 40 states. You can cash checks there.

While it does typically charge fees, which vary by location, there is a way to cash a check for free at Pilot Flying J. All you need to do is purchase at least 25 gallons of fuel, and you’ll be able to cash a check up to $200 for free at the same location within two hours of fueling.

This service allows you to cash checks. With the Cash a Check feature, you can cash checks and have them credited to your PayPal Balance account on your mobile device.

Once your check is approved, you will be able to get the money credited to your PayPal account. Now, if you want the money to be credited to your PayPal account within minutes, then you will have to pay a fee.

Road Ranger has more than 40 convenience and travel centers in Arkansas, Illinois, Indiana, Iowa, Missouri, Texas, and Wisconsin. Road Ranger provides check cashing services at all locations 24 hours a day.

There is a way to cash a check at Road Ranger for free. If you fuel a minimum of 25 gallons, you can cash a check up to $200 for free at the same location within 2 hours of fueling.

Perhaps you don’t have a bank account and the other options don’t work for you. So, what do you do.

Another option you might want to try if you want to cash a check for free without a bank account is to endorse your check to a friend or family member who does have a bank account. If you have a friend or family member who has a bank account, then they will be able to cash your check at their bank for you for free.

Many banks don’t allow this type of endorsement because sometimes this technique is used for theft and fraud. Some banks do allow customers to deposit third-party checks though.

Others don’t though. So, you will need to enquire with the bank on what its policy is regarding third-party checks.

To create a third-party check, you will need to write the following in the endorsement space below your signature: This method turns your check into a brand-new check for someone else.

Now, the person you sign the check over to will also need to sign it as well. So, make sure that you leave enough room for the other person to sign in the endorsement area as well.

Typically, you will need to accompany your friend or family member to the bank to verify your identity. Each bank has its own policy for cashing endorsed checks.

And, some banks don’t accept third party checks at all as I mentioned earlier. Just check online or call the bank to learn about the requirements.

If none of the above options work for you, your best bet would be to find the cheapest place to cash your check. You can try your local grocery store.

For example: If you want to cash a check for free, then your bank or credit union is your best option.

Other good options for cashing a check for free nearby include Pilot Flying J and Road Ranger. There are also many online check cashing options that are free as well, such as the Ingo Money App and the PayPal Cash a Check feature.

Learn the proper way to write a check. Read this step-by-step guide on how to fill out a check.

You probably don’t write checks very often. In the digital age, you might think they’ve become obsolete.

If you haven’t busted out the old checkbook recently, it can be a little confusing knowing how to fill it out. Follow these simple steps to correctly write a check.

In most cases, the date you write is today’s date. There’s a variety of ways you can write the date, but make sure the month, day, and year are clear.

For example, instead of writing “2/18/20,” write “2/18/2020.”.

This person or business is known as the “payee.”. Make sure to use an individual’s full name and not a nickname.

An improper name might prevent the payee from cashing the check.

On the right-hand side, there’s a box or line where you’ll write how much the check is for. Write the amount of the check in numbers, using commas if the number is greater than three digits, and a decimal point if your check includes cents (for example, $2,345.67).

After writing the check amount in numbers, you’ll also write the amount in words. This goes on the line below the Pay to the Order of line.

$2,345 would be written as “two thousand three hundred forty-five.” There’s no need to write “dollars.”.

Instead, the word “and” just after the whole dollar amount acts as the decimal. Then, use a fraction of 100 to describe how many cents are in the check amount.

Altogether, $2,345.67 would be written as “two thousand three hundred forty-five and 67/100.”.

In the bottom left-hand corner, there is a line for you to specify what the check is for. This is completely optional.

If you’re writing a check to a business, they may want you to add specific information here to help them process the payment, such as an account number. Be sure to double-check with the payee to see if they need specific information in the memo line.

Finally, the check must be signed by you on the signature line in the lower right-hand corner. Sign your name in cursive.

Most businesses that receive an unsigned check will return it and consider it as a “non-payment.”. After you’ve completed the check and removed it from your checkbook, record the information in your check register, whether it’s paper or electronic.

Adding a check to your check register right away prevents the unfortunate situation where you may have overdrawn your account because a check cleared that you forgot you wrote.

Writing “void” in large letters across the face of the check is usually the best way to handle this. Doing so prevents someone from cashing the check if it falls into the wrong hands.

What part of a check must be filled out. Technically, the only field that doesn’t need to be completed is the Memo/For line.

Doing so allows someone to fraudulently complete your check. Who signs the back of a check.

Most checks have a field for the payee’s signature. Nothing should be written outside of this field on the back of the check since it is reserved for the use of the bank.

Only use ink pens when filling out a check. Pencil creates the opportunity for someone to alter your check.

Some bank hardware has a difficult time reading different ink colors. How do I postdate a check.

In theory, people do this in order to prevent a check from being deposited right away. However, most banks and credit unions will honor postdated checks before the date written on the check.

Most of the time we can get by without having to write a check. It’s simple to pull out your debit card or open an app to pay someone.

Now that you know how to properly fill out a check, you’ll be better prepared for when the time comes.

For the millions of consumers without a bank account, cashing a check isn’t easy. Some 5.9 million U.S.

There are ways to cash a check without a bank account, but they cost more money, often take more time and are riskier than cashing a check at a bank where you have an account. Here are five different ways to do so and what they’ll cost you.

Banks and credit unions aren’t required to cash checks for noncustomers, but many banks will cash a check that is written by a checking account holder at that bank, even if it is payable to a noncustomer. There must be enough money in the payer’s account to cover the check.

The payee also should expect to pay a percentage of the check amount, such as 1 percent or a flat fee. That can add up over time.

There may be other hurdles, too, such as limits on check amounts and refusal of two-party personal checks. Checks that are six months old or more might even be declined.

There are a number of grocery chains and big retail stores like Walmart that offer check-cashing services. Walmart doesn’t cash handwritten checks, but it does cash other types of checks:

Many grocery chains provide check-cashing services. Kroger and Publix are just a couple.

Consumers who don’t have bank accounts sometimes use prepaid cards to deposit checks and access their cash. Prepaid cards are similar to checking account debit cards.

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.

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.

There is a monthly fee of $5.94 unless you direct deposit at least $500 a month onto the card. Reload fees can be steep.

Green Dot also charges $32.50 for an ATM withdrawal and 50 cents for an ATM balance inquiry. In addition, there is a $7.95 fee for every month there isn’t at least $1,000 loaded onto the card.

Check-cashing outlets are probably the most expensive places to cash checks. Some of them require customers to become “members” or to buy check-cashing ID cards before cashing checks.

Check-cashers typically charge 1 percent to 12 percent of the face value of the check. Some businesses charge a flat fee on top of the percentage.

The national average fee for cashing a check at one of these services is 4.1 percent, according to the Consumer Federation of America. So if you cashed a $500 check, for example, the fee would be $20.50.

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 where customers of a check-cashing store are called by someone who claims to represent the business.

Of course, the loan is never received and the customer of the check-cashing store gets scammed out of their cash. Given the costs, check-cashing stores are best left as a last resort.

Another way to cash a check without a bank account is to sign the check over to a trusted friend or relative who has a bank account and have them cash the check at their bank. Make sure the person you are signing over your check to is willing to cash the check and that their bank will cash it.

Your friend must have the proper identification and be prepared to pay a check-cashing fee. All of these check-cashing alternatives carry more safety, financial risk and expense than cashing or depositing your check at your own bank.

For those who can’t qualify for a standard checking account, some banks offer second-chance checking accounts. These accounts give customers the opportunity to prove they can responsibly manage a checking account so that eventually they can qualify for and enjoy the benefits of standard bank accounts.

— Bankrate’s René Bennett contributed to an update of this story.

If you’re looking to renovate your kitchen, consolidate debt or pay for another large expense, you might be searching for a $15,000 personal loan. There are plenty of lenders that offer $15,000 loans, so it’s worth shopping around to find the lowest rates and fees.

Follow these five steps to get a $15,000 loan. Before approving you for a $15,000 loan, lenders review your credit, income and other factors.

A $15,000 loan is a hefty sum, so it’s worth shopping around to find the best rate. Many lenders let you prequalify for a loan online, meaning you can check what rates you may be eligible for with no impact on your credit score or obligation to borrow.

You’ll enter some basic personal details and consent to a soft credit inquiry. After submitting your details, the lender will show you which offers you qualify for.

Pay close attention to interest rate and fees, including origination, disbursement, application and prepayment fees. The annual percentage rate (APR) is a more inclusive rate than the interest rate alone because it accounts for both interest and fees.

The repayment terms you choose also impact your costs of borrowing. Lenders sometimes offer better rates on shorter loan terms and higher rates on longer terms.

This application will collect more details than the prequalification form did. You’ll fill in your personal information, such as your contact details and address, as well as indicate the purpose of your loan.

Once you’ve signed and submitted your application, the lender will run a hard credit inquiry to review your credit profile. Unlike the soft credit pull, this hard credit check could ding your credit score by a few points.

After you complete your application, the lender will review your information and check your credit. This process may take a few days or weeks, but some lenders can approve loans within 24 to 48 hours.

Review your paperwork to find out when your first payment is due. You’ll repay the loan on a monthly basis.

Even if your lender doesn’t offer this rate cut, it could be a good idea to set up autopay so you don’t miss a payment. Having bad credit can limit your options for a $15,000 loan.

Start with your current bank or credit union, since it might offer perks to existing customers. You could also search for a secured personal loan rather than an unsecured loan.

They tend to have more lax credit requirements, but you risk losing your asset if you fall behind on payments. Some lenders also let you apply with a co-signer or co-borrower to make up for limited credit.

Finally, you could take steps to improve your credit score before you apply if you don’t need the loan immediately. If you spot any errors on your credit report, dispute them.

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Via Credible.com’s Website. When you borrow a $15,000 loan, you’ll end up paying back more than $15,000.

Your long-term costs will vary depending on your rate, fee structure and repayment terms. A higher interest rate will add to your costs while a lower rate will make your loan more affordable.

If you get a 10% rate, expect to pay $4,122.34 in interest over the life of your loan. If you can qualify for a 6% rate, your total interest charges drop to $2,399.52.

A shorter term typically means lower interest charges while a longer term means you’ll pay more in interest over the life of the loan. Let’s go back to that example of a $15,000 loan at a 10% rate.

But your interest charges will only be $2,424.28 with a three-year term. Alternatively, a seven-year term would mean interest charges of $5,917.49.

As you’re crunching the numbers, try to find a term that makes your monthly loan payment affordable while keeping long-term interest costs down.

Our number one goal at DollarSprout is to help readers improve their financial lives, and we regularly partner with companies that share that same vision. If a purchase or signup is made through one of our Partners’ links, we may receive compensation for the referral.

Trying to cash a check when you don’t have a bank account is a huge pain. These days, the majority of financial transactions take place online.

Most of these require a linked bank account. That means if you’re one of the 7% of people in the United States without a bank account, then managing your money, especially cashing checks, is a bit trickier.

You can drop by the bank or use an ATM. With some banks, you can even use their app to take a quick picture of the check and deposit it from your phone.

Even if it does cash your check, you’ll have to pay a small fee every time. If you don’t have a bank account, but you still need quick access to your cash, then head to one of the check cashing places on this list.

There are several companies that will let you cash a check, but you’ll probably have to pay a small fee for the service. The good news is that you can walk out with cash in your pocket today.

Some places will cash certain types of checks that others won’t, so be sure to call ahead before making a special trip. If you’re trying to cash a check without a bank account, the easiest place to start is with the bank on the check you’re trying to cash.

Call a local branch to find out its check cashing policy. It can easily verify the availability of funds by checking the account balance of the one who wrote you the check.

The bank listed on the check used to be the cheapest option to get your cash. Now, most of the big banks have started implementing fees to get your check cashed if you do not have an account with them.

Every bank will have different terms and requirements to cash checks that are tied to its institution. The most foolproof option is to call ahead and ask about its policy and fees.

Walmart is one of the most global and accessible check cashing places on this list. With over 5,000 locations, close to 90% of the population in the United States lives within 15 miles of a Walmart.

This is right in line with the fees most of the major banks charge. The biggest advantage of cashing your check at Walmart is that it has a number of options.

Two Important things to be aware of: You’ll need to bring the check and a valid ID with you to the store.

If you don’t have access to a local bank, then a check cashing place may be your only option. Be careful though because these stores generally charge the highest fees of all the options on this list.

Before you cash your check at a store like this, make sure to ask if they require a credit check. Some stores will run a credit report before cashing the check because they are effectively giving you a short term loan until they are reimbursed with the funds from the issuing bank.

It will cash almost any kind of check as long as you have a valid form of identification. The big advantage Ace Cash Express has over Walmart and other stores is that it will cash a personal check for you.

Gas stations used to be a much better option for cashing checks, but many places have stopped offering this service because of the high risk of fraud. Once the check is cashed, there is almost nothing the gas station can do to track down the person responsible.

Many locations have a Vcom kiosk. This is basically a touch-screen station where you can cash checks, pay bills, and handle other financial tasks.

You can deposit checks with your phone. The cash gets added onto your reloadable 7-Eleven prepaid card, which functions just like a Debit MasterCard.

The funds take about 48 hours to be loaded onto your card. You can even use it to set up direct deposit from your employer and government benefit checks.

With gas stations and travel centers, not every location will be able to cash a check, so call ahead to find one that does. In some cases, your employer can actually cash personal checks for you.

However, some do. There is no daily limit to the dollar amount on the checks that an employer can cash as long as they are payroll checks.

Anything above that and they would be subject to banking regulations as an official “check casher.”. Grocery stores are one of the most dependable and convenient options for cashing a check.

Not every grocery chain does this, but here are some that do: Fees and check limits will vary from store to store, but all will require a form of government ID.

Related: 35 Stores That Give Cash Back on Your Debit Card Purchases. If you don’t have a bank account of your own, then you could endorse the check to a friend or family member who does.

They can then cash the check for free and give the funds to you. This obviously requires a deep level of trust and, in some cases, you both have to be present at the bank so they can prove that you are not being pressured or forced to do this.

Depending on how often you need to cash a check, it may be much easier for you to open a checking account of your own and avoid this workaround. The last thing you want is for money to get in the way of your relationships with friends and family.

You could deposit a check and immediately follow it up by withdrawing cash from your account. However, if you have nothing in your account prior to depositing the check, you will not be able to withdraw the funds for 24 to 48 business hours.

With the exception of endorsing your check to a friend or family member, all of the check cashing places above will require at least one form of ID, sometimes two. If your ID is expired, then technically it is not valid and won’t count as a form of identification.

If you don’t have a bank account but have internet access or a smartphone, there are a few options. The two most popular apps that don’t require a bank account to be linked are PayPal and Ingo Money.

You simply endorse the check by signing it and taking a picture of the front and back. Once the check is approved, the funds will be sent wherever you designate them.

However, the fees for Ingo can add up quickly. Government and payroll checks are $5 each.

This means for a $1,000 check, you’ll pay $20. For all other checks, you’ll pay a 5% fee.

You’ll pay 1% for government and payroll checks and 5% for all others. You can transfer the funds to a prepaid debit card and then withdraw the cash at most ATMs.

When you don’t have a bank account, you’ll always be stuck paying fees to get your checks cashed. If you’re tired of paying fees, driving around town, and calling places to ask about their policies, you might want to consider opening a bank account.

If you’re wondering how to pay off $15,000 in credit card debt, you can comfort yourself with the fact that you’re not alone. More than 40% of U.S.

Though card debt dropped in 2020 during the COVID-19 pandemic — Americans paid down credit card debt a total of $138 billion the first two quarters of 2020 — financial experts expect that to pick back up once restaurants and other events open up. Whether you owe $15,000 in credit card debt, $7,938, or something in between, the issue is that you have a big bill that’s hard to get rid of.

If there is more than one credit card holder in your household, it’s easy, even if you’re “average,” for the amount owed to get to $15,000 or higher. How to pay off $15,000 in credit card debt may seem impossible.

There are many ways to chip away. Below you’ll find seven time-honored options, ranging from self-help options as simple as better budgeting or a do-it-yourself payment plan, to getting professional assistance from a debt management program (DMP).

The hardest way, or impossible way, to pay off $15,000 in credit card debt, or any amount, is by only making minimum payments every month. A minimum payment of 3% a month on $15,000 worth of debt means 227 months (almost 19 years) of payments, starting at $450 a month.

And that’s if you don’t use any other credit cards for those 19 years. Any of the seven options you choose will require hard work and keeping your eye on the long-term goal of making your credit card debt go away.

While studies show that 70% or more Americans think it’s important to budget, you may be one of the 30-40% who doesn’t do it. The key to building a financial foundation, and paying off that credit card debt, is understanding and controlling your finances with a budget.

Don’t overthink it and feel overwhelmed, Creating a budget doesn’t have to be complicated. It’s simply a plan for looking at how much money you have coming in and deciding where it will go.

But this isn’t necessarily a magic formula. If you don’t have a decent income, however, those necessities may take up a much bigger chunk of your budget.

It’s worth checking with your bank to see if it does. There are a variety of budgeting apps and other resources that can help, and there are a variety of online budget tools and templates to guide you.

It was for Joanie Asmus, who paid off $18,000 in credit card debt with a DMP. She was using credit cards for everyday expenses until she maxed out seven of them.

She gave them a call and was on her way to getting rid of that credit card debt. Debt management programs offer help on budgeting, reducing the interest rate on credit cards and arriving at a monthly payment that is affordable based on your income.

Credit scores are no factor in qualifying for a DMP. Asmus took advantage of all of that.

“There is no way I could have done that on my own,” Asmus said. “It would have taken me 30 years to pay that off without (InCharge’s) help.”.

There are two popular DIY payment methods: avalanche method and snowball method. With the avalanche method, you line up your credit card bills in the order of interest rate payments, with the highest interest rate payment at the top and lowest at the bottom.

When that one is paid off, add the minimum payment and extra money you were using and apply them to the second card and so on until all cards are paid off. The snowball method is similar, but you line up your cards by amount owed, with the least amount coming first and the highest amount last.

When that one is paid off, take the money you were applying to it, add it to the minimum you were paying on the second card and pay it off. Keep going until all cards are paid.

You’re paying off the cards with the highest interest rate so in the end, it’s not going to cost you as much. The snowball method is a confidence builder.

DIY’s are tempting, if for no other reason than you are challenging yourself to succeed at making steady, on-time, monthly payments. Both approaches work, provided you have the discipline and commitment to make every payment, every month.

Key phrase there: If you qualify. Unlike debt management plans, consolidation loan rates use credit scores to qualify candidates and if you own $15,000 on your credit cards, your credit score is probably taking a beating.

Rates on consolidation loans vary by lender, but in September of 2020, you could get a loan at the low end for about 6% with a credit score higher than 720. If your score was between 660 and 720, you probably would pay 7% on the low end and as much as 25% at the high end.

That effectively means it would be a wash between the loan and what you’re already paying on the credit cards. If you own a home, taking out a home equity loan for debt consolidation is another option.

So yes, a debt consolidation loan is a good route to when you’re looking at how to pay off $15,000 in credit card debt, but only if you meet the qualifications: good credit score or equity in your home. If not, you are essentially adding to your problems, not solving them.

The key phrase once again is: If you qualify. You’ll need a good credit score and payment history to make this happen.

Every dollar goes toward reducing the balance — and not spinning your wheels with large interest — so you get out of debt quicker. The catch is, you have to pay off the balance during the 12-18 month introductory period or face interest rates of 18%-24%.

Even with a balance transfer fee of 3%-5% on every balance transferred to the new card, it can still be a good way to pay off that $15,000 debt and boost your credit score at the same time. The credit limit may not be high enough for all your credit card debt, so if you have more than one card, transfer the balances with the highest interest rates.

The negatives are the fees, which are generally 3%-5% of your balance and they’re the cost to make the transfer happen. They might be worth it considering the long-term advantage of interest savings, but do the math and see if it makes sense for you.

And if you haven’t paid down the majority (or all) of your debt, you’re back in the same boat you were in before. With a 0% (or low) interest rate, new purchases can also be really tempting.