Millions of people throughout the country regularly use check cashing services at Currency Exchanges and other storefront businesses. What leads them there could be a lack of funds that prevent them from opening accounts at traditional banks. Or it could be these stores are just around the corner and open when you need cash in a pinch.
There are multiple reasons check cashing continues to be one of the most popular financial services around. And if you have minimal savings or live paycheck to paycheck, check cashing facilities are often convenient and fast in giving you access to your money right away.
Fast & Easy Check Cashing Services Save You Time
The main reason so many people take their paychecks to a neighborhood store to cash them is simple. It saves time! These are places where you can generally get your money quickly, when you need it, without a lot of fuss. And if there’s one thing that people living paycheck to paycheck don’t have a lot of, it’s time.
Banks take too long to clear checks these days. This means your funds are “pending” and you cannot access them right away. Banks also have tons of fine print with unforeseen fees and hefty regulations. Often, traditional banks will require minimum balances, and when you can’t maintain those balances, a fee is imposed. These fees can add up very quickly and unexpectedly. If you’ve ever bounced a check because of insufficient funds, you probably found yourself paying even more fees and the waiting period for checks to clear can become even longer thereafter.
Meanwhile, at check cashing stores, the hours are usually convenient (but still call first to double check). It is a fast and easy alternative that gets people their cash in minutes, with minimal hassles. Even if you have options, it’s nice to know there’s a place nearby where you can walk in, and cash your check in minutes for a nominal, one-time fee. No continued obligations, no fine print, just cash and go.
Don’t Have a Bank Account?
Many customers at businesses such as Community Financial Service Centers (CFSC) – which cashes checks at locations nationwide – have chosen not to have bank accounts or not use them as frequently. Financial institutions collect a lot of information such as credit scores and credit histories before agreeing to open an account. And there may be other barriers to opening a traditional checking account.
But everyone needs a way to access the money earned, when they need it. A big advantage of CFSC is you can stop by with no appointment and cash just about any type of check, including:
- Payroll Checks
- Tax Refunds
- Insurance & Benefits
- Other Government Checks
- Settlement Payments
- Even checks made payable to your business
If you receive official checks from an institution not listed above, there’s a good chance a check cashing service can take care of that one, too.
Other Helpful Financial Services Available at One Location
One advantage to check cashing that can get overlooked is the vast array of other financial services available at places like CFSC. When you come in to cash a check, you instantly access other resources that can help you take care of day-to-day needs within minutes. These include:
- Get, load or unload a prepaid debit card
- Get bills paid electronically on time
- Load a prepaid cell phone account
- Buy an E-ZPass or transit card
- Handle car-related license and title payments (at IL and WI locations only)
- Transfer money wherever you need to domestically or internationally to people or bank locations
Cash Your Business Checks at CFSC, Too
Want to cash checks made out to the name of your business? At CFSC, all you have to do is fill out a form online or in-store. Once you’re registered as an official business check cashing customer, you can simply come into any location or contact a CFSC commercial specialist. A bilingual and knowledgeable staff makes it easy to communicate and efficient to get you your money and back to your business fast.
Skip the Appointment and Long Lines, Too
When it comes to using a check cashing place that works for you, the question isn’t why, but why not? Your neighborhood CFSC can take care of many other needs, as well. At locations in Illinois and Wisconsin, you can register your vehicle, pick up your plates and stickers, and transfer title getting you on the road with your new wheels fast and convenient. Oh wait, on the snow and water, too – CFSC also helps you with your snowmobile and watercraft licensing and title needs, too!
Knowing that their customers work through many financial service needs at CFSC, CFSC also has a Rewards program to reward their loyal customers with points that add up and earn discounts on future purchases. Head to the nearest CFSC location today to find out more!