The $20,000 Check is a piece of evidence in L.A. Noire, it is featured in “The Fallen Idol” case.

After raping Jessica Hamilton at a “screen test”, Mark Bishop was blackmailed by June Ballard who took a filming exposing him as sex offender. June demanded the part in Bishop’s movie or threatened to release the film.

Through Hopgood, who was part of the scandal, the money would be used to pay off Guy McAfee who would give the film to Bishop.

The incident caught the attention of the LAPD and Detective Cole Phelps and Stefan Bekowsky proceeded to investigate Bishop’s scandal and disappearance. During the investigation they found the check in Bishop’s ransacked apartment, obtaining an indication and evidence of blackmail against Bishop.

With a Bank of America, Member FDIC, checking or savings account, you have access to financial products, including cashier’s checks. You might need a cashier’s check for a large transaction for which a guaranteed form of payment is requested, like buying a house or a car.

Depending on the type of account you have with Bank of America, you might also have to pay a $15 fee. Keep reading to learn more.

If you are enrolled in Bank of America’s Preferred Rewards program, however, this fee will be waived when you get cashier’s checks. Bank of America is not the only bank that charges a cashier’s check fee.

Capital One charges $20 for online cashier’s check requests or $10 in-branch. The Bank of America cashier’s check fee is $15.

To qualify for Preferred Rewards, you must have a three-month combined average daily balance of at least $20,000 in your Bank of America deposit accounts and Merrill investment accounts. To get a cashier’s check from Bank of America, you need to visit your nearest branch and provide the teller with the following:

After that, the teller will print the check and sign it. Once you pay the check fee, you can take the check and present it to the payee.

A certified check is a personal check that the bank certifies. They will sign it as a guarantee that you have the funds in your account and that your signature is genuine.

A money order, however, is limited to $1,000 or less. If you need to pay for something that costs more than $1,000 and the payee wants a guaranteed form of payment, you’ll likely need a cashier’s check.

Because cashier’s checks are generally trusted, they are frequently used in scams. Although you can usually withdraw funds from a deposited cashier’s check quickly, if the check ends up being fraudulent, you’ll be responsible for paying the money back to the bank.

To cut down on the likelihood of getting a bad cashier’s check, follow these steps:. A cashier’s check can be a convenient way to pay for a large purchase, such as a car or house.

You can always call the bank to verify if the check is genuine. Chris Ozarowski contributed to the reporting for this article.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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The bank is the one responsible for paying the amount to the payee, and these types of checks are written in the bank’s name and are typically signed by a teller. Like, I said above, cashier’s checks are preferred over personal checks for larger transactions, often being used in real estate and brokerage transactions.

This is because unlike personal checks, cashier’s checks are guaranteed by the bank. Cashier’s checks can only be purchased at banks or credit unions.

This amount is then withdrawn from the remitter’s account and deposited into the bank’s account. Once the remitter has paid the bank the amount required to cover the check, the bank or credit union will print the cashier’s check with the name of the payee, which in this case is your name, and the amount that’s to be paid.

When you, the payee, deposit a cashier’s check, the funds used the pay it is drawn from the bank’s account. Cashier’s checks are often considered a better payment method than other options like your regular personal check.

This is because they provide more benefits and protections than you’d get with cash payments or personal checks. There are many reasons you’d want to use a cashier’s check:

Thankfully, you have quite a few options for doing so. The best place to cash a cashier’s check is at your local bank or credit union.

Here are some banks and credit unions where you can cash a cashier’s check: Another place where you can cash a cashier’s check is at a check cashing store.

The downside is that you’ll have to pay a fee for the service. Fees vary from place to place, so be sure to call ahead to get a better idea of what you’ll pay for cashing a cashier’s check.

Here are some financial service companies that allow you to cash cashier’s checks. A couple of retail stores where you can cash a money order, also cash cashier’s checks.

Here are a couple of retail stores where you can cash cashier’s checks: Nowadays, you can actually cash a check without even leaving your home.

It can also be a hassle to get to a check cashing place or retail store if you’re having a particularly busy week. That’s why cashing a check online is such a great option.

Now, cashing a check online does differ slightly from when you cash a check in-person. When you take a check to a physical location like your bank or a check cashing store, not only do you get the option to deposit it into your bank account, but you can also get cash on the spot.

Online however, you will deposit the funds into your bank account, rather than getting cash in your hands. So, if you want cash right now, then you’ll need to head into your bank or nearby check cashing or retail store.

Here are a few places where you can deposit a cashier’s check online:. There are, sadly, quite a few cashier’s check scams out there.

Now, in a fake check scam a person, usually someone you don’t know, will ask you to deposit a check, and then send some of the money to another person. These scammers always have some story to explain why you can’t keep all the money.

Fake checks come in many forms, and sometimes, they’ll look like a personal check or a cashier’s check. If you have a cashier’s check to deposit, it’s really important you’re aware of the scams out there.

Here are some examples: In this case, the scammer pretends to hire you as a mystery shopper.

The shopper receives a cashier’s check and is told to deposit it into a personal bank account and wire it to someone else. However, once the money is wired, the person on the other end can disappear.

So, you apply online and get hired. Then, the scammer gives you a check that you’re told to use to purchase gift cards or buy equipment or supplies for your new client.

Scammers tell people interested in car wrap advertising to deposit cashier’s checks and send money to decal installers who don’t actually exist. Another common cashier’s check scam is the sweepstake scam.

But, the scammer tells you to send money to cover taxes, shipping and handling charges, or processing fees. That is not how legit sweepstakes work.

Basically, the scammer offers to buy something from you online, and when they pay you, they “accidentally” send a check for too much money. Then, they ask you to refund the balance.

In fact, these fake checks can even look real to bank employees. Often, they are printed with the names and addresses of legit financial institutions, or they might be real checks that are written on bank accounts that belong to victims of identity theft.

By that time, the scammer will have any money you sent, and you’ve stuck paying the money back to the bank. That’s why it’s so important that you never, ever send money to someone that you don’t know, like in the scam examples above.

Okay, so I just want to give you a few tips you can use to avoid being the victim of a fake check scam: Never use money from a check to send money orders, gift cards, or wire money to a stranger or a person you just met.

After you have given the gift card PINs or wired the money, it’s almost impossible to get the funds back. A legitimate sweepstake would never ask you to pay money in order to get your prize.

If someone online offers to pay way more for something that you’re selling it for, it’s a surefire sign of a scam. Don’t accept a check for more than the selling price.

Cashier’s checks only tend to be used in large transactions like real estate transactions. Although you can only purchase cashier’s checks at banks and credit unions, cashing them is much easier.

If you’ve wanted to know, “Where can I cash a cashier’s check near me. ” make sure you try the places on our list above.

Bank accounts can make paying bills and managing spending easier. And a savings account provides a convenient place to keep cash you may need in an emergency.

Is it possible to have too much cash in the bank. Finding the right balance is key to managing your bank accounts.

4.35%. $1 Minimum to earn APYrates as of 12/14/2023.

Monthly Maintenance Fee. $0.

4.35%. $1 Minimum to earn APYrates as of 12/14/2023.

How you decide to budget your money can influence the amount of cash you keep in the bank. The 50/30/20 rule is one of the most popular methods for budgeting by percentages.

“Needs” are all of the expenses you need to pay to maintain a basic standard of living. That includes housing, utilities and groceries among other essentials.

The final category covers money you direct to savings accounts or debt repayment. Using the 50/30/20 budget method, the 20% you allocate to savings could all go to a bank account.

Banks and credit unions can impose limits on the amount of money you can keep in a checking, savings, money market or CD account. These limits can be imposed per account or as an aggregate across all your accounts.

Depending on your bank, the limits may be higher, lower or nonexistent. If you’re unsure whether your bank limits how much cash you can keep in your accounts, this should be spelled out on your bank’s website or customer agreement.

Checking accounts allow you to pay bills electronically or by writing checks. When your checking account comes with a linked debit card, you can use it to make purchases online or in person.

But what is a smart amount of money to keep in your checking account. The answer can depend on several things, including:

Say you budget by paycheck, for example, and are paid biweekly. To help ensure that your bills are paid, you’d need to keep at least half a month’s worth of expenses in your checking account to cover yourself until the next payday.

In some cases, the decision to keep more cash in checking is all about avoiding a fee. At traditional banks, for instance, it’s common to pay a monthly maintenance fee for checking accounts.

It could also make sense to keep a buffer in checking if you’re worried about incurring overdraft fees. Overdraft fees are triggered when your balance dips into the negative.

Savings accounts are typically designed to hold money you don’t plan to spend right away. This could be money you need for a short-term goal, such as planning a vacation, or a longer-term financial goal, like buying a home.

If you open a savings account for a specific goal, such as a vacation, a wedding or the purchase of your first home, the amount you’d keep in it would be determined by that goal. For instance, you may need to save $3,000 for a trip, $10,000 for a new-to-you car or $20,000 for a wedding.

You can then open multiple savings accounts for each goal or, if your bank allows it, a single savings account that lets you create subaccounts. You can then divide your savings budget to fund each subaccount at a pace that works for you.

According to the FDIC’s latest data, 98% of American households had at least one transaction account in 2019. Transaction accounts include:

This means that if you take out the high end and the low end of bank account balances, the typical person keeps just over $5,000 in those kinds of accounts. One thing to keep in mind is that these numbers don’t include people who are unbanked or underbanked.

Households, roughly 18% of American households don’t use bank accounts or rely on alternative financial products and services. The FDIC insures deposits for banks, including brick-and-mortar banks and online banks.

But the FDIC does insure: The standard insurance amount provided for FDIC-insured accounts is $250,000 per depositor, per insured bank, for each account ownership category, in the event of a bank failure.

If, at the same bank, you also have a joint account you share with a spouse or other person, then applying the “per ownership category” part of the FDIC coverage definition, a separate $250,000 coverage limit applies to your half of the funds in that joint account. Anything over that amount would exceed the FDIC coverage limits.

The good news is that bank failures are generally rare. there were only four bank failures in 2020.

Remember that these limits are applied at the individual bank level. If you have more than $250,000 to deposit, you could open multiple accounts at different banks to spread out those funds.

Emergency funds are designed to hold money that can be used to cover unexpected or unplanned expenses. A long-standing rule of thumb for emergency funds is to set aside three to six months’ worth of expenses.

But it’s important to keep in mind that everyone’s needs are different. So how much cash should you keep in a savings account or money market account for emergencies.

The amount of money you prefer to keep in emergency savings may be higher or lower, depending on your financial situation. For example, if you work in a highly competitive industry, maintaining a larger emergency fund could make sense.

In that scenario, you might be glad to have nine or even 12 months’ worth of expenses saved. On the other hand, you might be comfortable with a smaller emergency fund if you have minimal expenses and diversified streams of income.

What if your expenses or income fluctuates month to month because you’re self-employed or a gig worker. In that scenario, you could use the average of your monthly spending as a guideline.

That’s $5,111 per month. If you were to use that number as a baseline, the amount of cash you’d need to keep in the bank for emergencies would range from $15,334 to $30,666 if you save three to six months’ worth of expenses.

With a checking account, for instance, consider things like minimum balance requirements, monthly fees and whether you can earn interest. These same things matter with savings, money market and CD accounts.

After roughly two years of falling interest rates, APYs are finally on the rise. If you’ve been using the same bank since before the pandemic, your money might be better off elsewhere.

Keep in mind that online banks tend to offer higher rates than brick-and-mortar banks. You may also pay fewer fees at an online bank and face lower minimum deposit requirements.

Deciding how much cash to keep in the bank is a personal decision, so it’s important to consider banking fees, deposit interest rates and FDIC limits. Shopping around can help you to find the best banking option for your needs and goals.

After holding up the $900 billion coronavirus relief bill for nearly a week, President Donald Trump has just signed off on the stimulus package, which includes $600 checks. The president had previously called the bill an unsuitable “disgrace” and demanded lawmakers raise the second round of stimulus checks to $2,000 per person, from $600.

The House plans to vote on a measure to increase stimulus checks to $2,000 on Monday, and in a statement released by Trump on Sunday night, he said the Senate would also “start the process for a vote that increases checks to $2,000.”. It remains to be seen whether lawmakers will agree to authorize larger checks, an effort that is unpopular among many Republican leaders.

For now, here is what we know about the stimulus money that is currently guaranteed in the new relief package. The pandemic recovery bill includes direct payments of up to $600 to eligible adults, plus $600 per child dependent.

At the full benefit amount, a family of four could receive $2,400. Those qualifying for the maximum stimulus payment include individuals earning up to $75,000 in adjusted gross income, or $112,500 as head of household and $150,000 as a married couple filing jointly.

Payments are reduced at the same rate as the CARES Act checks. For every $100 earned over these income thresholds, payments are docked $5.

Individuals with $87,000 in income and married couples who file jointly earning $174,000 will not receive any payment. Therefore, fewer people will qualify for payments, and for those who do receive a check, some will be getting a lot less than the first round of payments.

Before Trump balked at signing the legislation, Treasury Secretary Steven Mnuchin told CNBC last week that qualifying Americans could see direct payments reach their bank accounts in a matter of days. “This is a very, very fast way of getting money into the economy.

That includes those who signed up to receive a refund by direct deposit when filing their 2018 and/or 2019 taxes, and it may extend to the 14 million people who previously registered their details via two new online tools the IRS built this spring to collect banking and contact information. But keep in mind, this timing was promised before the president postponed signing the relief bill.

For those who are eligible for a stimulus payment but have not shared their bank account details with the IRS, they can expect to instead receive a paper check or a prepaid debit card. The Treasury has the capacity to deliver 5 million to 7 million paper checks a week, in addition to checks for other federal programs.

There are still people waiting for all or part of their first Covid relief payment. Tax experts say it is not too late to request that cash.

Those payments included up to $1,200 per individual or $2,400 per married couple, plus $500 per child under 17. The tax credit would either lower the amount of tax you need to pay, or increase the value of your tax refund.

“There will be a schedule and line on the tax return to reconcile what they have received so far, and the amount actually due to them based on their 2020 tax return,” Steber said.

These forms can also be used by people who are not normally required to file tax returns yet are eligible for the credit. For those concerned about how this might complicate the filing process this year, Greene-Lewis tells filers not to worry because automated tax preparation software will factor this in for you.

“It will ask up front if the filer received a stimulus payment and then calculate the Recovery Rebate Credit based on actual 2020 income.”. Whatever your circumstances, tax experts agree that filing early will be an especially good idea this year.

Looking to cash a check without a bank. Skip the bank lines.

Need to cash a birthday check from your aunt. Or maybe a tax refund, or a security deposit.

Due to “Catch Me If You Can”-style fraud, most banks won’t cash your check without an account. Luckily, there are several workarounds if your bank doesn’t offer mobile check deposits.

The apps below let you cash checks instantly using your phone’s camera. These range from prepaid card providers to virtual alternatives to traditional checking accounts.

Open a new BMO Smart Advantage Checking account and get a $250 cash bonus when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months.

Talk about tight security – Brink’s is primarily known for their work in the armored transportation industry delivering cash to ATMs and banks. Brink’s also offers a prepaid debit card and check cashing service using their mobile app.

There’s a good reason Ingo is the most popular app in this category. With Ingo, you can link your bank.

or PayPal account to deposit money. You can even split a check between accounts (for example, 50% to PayPal and 50% to a prepaid card).

You may be surprised to learn that Venmo is more than just a person-to-person payment app. If you sign up for a Venmo Debit Card or direct deposit, you can cash checks inside the app.

PayPal’s check cashing service is another that is provided through First Century Bank and Ingo, but it provides a better fee structure and a more trusted name.

The Lodefast app by Lodestar Financial allows you to cash checks online to deposit into your linked bank account, debit card, any prepaid debit card, or Akimbo Card. Like most other check-cashing services, there is a free option if you can wait 10 days for your deposit with the option for instant deposit with a modest fee.

Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.

However, this is 100% a check-cashing app. ACE uses First Century Bank, N.A.

With an optional ACE savings account, you can even earn an absurd 6.0% APY on balances under $2,000. Netspend, provided through Ingo, offers a fairly standard fee structure.

With AnytimeCheck, business owners can get paid by customers by paper check without having to wait for the mail or visiting their bank to make a deposit. You won’t get a lot of frills with The Check Cashing Store — indicated by the name — but you will be able to deposit checks on your mobile device and send the money to a linked Visa, Mastercard, or Discover card.

However, you can expect the standard fee schedule of between 1% and 5% for each check. If you have relatives in Central America, Waleteros is the optimal pick for you.

This app allows you to cash checks, receive your direct deposit, and send money with very few fees. There are no minimum account balances, no overdraft fees, and customers can enjoy over 20,000 nationwide fee-free ATM locations.

Many apps on this list (including Ingo, Venmo, and PayPal) allow you to access cash within minutes of submitting your request. Unfortunately, these companies know instant deposit is in high demand.

Be aware that if your check does not clear, your deposit will be reversed, and you could face some steep overdraft fees or returned check fees. Make sure that you trust the check issuer before utilizing the instant deposit feature.

The only true way to cash a check with no bank account and no identification is to sign the check over to another person by signing the back and asking them to cash it for you. If you have an ID card but no bank and do not want to download a check-cashing app, you can cash checks by visiting the bank that printed and issued the check, also known as the “bank of origin.”.

If you’re unbanked, prefer using prepaid cards, or just like the convenience of a check cashing app, the picks on this list are definitely worth checking out. Keep in mind, if you need to deposit checks frequently or rely on expedited deposits, be careful of the fees you might incur.

Open a new BMO Smart Advantage Checking account and get a $250 cash bonus when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months.

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Home > Bank Reviews & Deals > How to Cash a Check Without a Bank Account > Best Check Cashing Apps.

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.

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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It’s pretty simple, actually. The offers for financial products you see on our platform come from companies who pay us.

Compensation may factor into how and where products appear on our platform (and in what order). But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you.

Of course, the offers on our platform don’t represent all financial products out there, but our goal is to show you as many great options as we can. If you’re planning to take out a $20,000 loan to consolidate debt, fund a major purchase or advance another financial goal, it’s important to weigh your options.

But you’ll want to consider your personal finances and what terms you’re likely to qualify for, as well as how payments will fit into your monthly budget. We’ll review lenders you may want to consider and guide you through the process of applying for a loan.

Bank offers unsecured personal loans, and you’ll typically find out whether your loan is approved quickly. U.S.

To find the best options, you may want to become a U.S. bank customer before applying for a personal loan.

There are lots of fees with this lender though, including origination fees, late payment fees, nonsufficient funds fees and governmental fees. OneMain’s starting interest rates are relatively high compared to traditional lenders — you may find a better deal elsewhere if you’ve got good credit.

But it’s not available in every state, and you’ll need to borrow a larger sum of money to lock in the lowest rate. PenFed Credit Union is worth considering if you have good credit and need a small personal loan.

You may need strong credit to qualify with SoFi. But if you do, you can access specialized perks in addition to competitive rates.

Applying for a $20,000 loan can take some work, but it’s worth the effort if you can save money by consolidating debt at a lower rate or finance a necessary purchase. Start by collecting basic information about your finances, such as ….

This lets you preview your potential rate without a hard credit inquiry. It will also give you a good idea of which lender may be the best fit for you.

If you apply for a personal loan, you may be able to access money within a few days. Your ability to get a $20,000 loan typically depends on your credit profile and a lender’s requirements for approval.

Applicants with lower credit scores will likely get offers with higher interest rates and fees than people with stronger credit scores get. $20,000 loans may be available to people with no credit or bad credit, these options likely will come with higher interest rates, fees, or even the need to provide collateral to get approved.

It’s a good idea to apply to prequalify with various lenders so you can shop around and compare potential offers without a hard credit inquiry that can temporarily hurt your credit scores.