To cash a worker’s comp settlement check does not require your physical appearance in a bank. Cashing a worker’s comp settlement check is easy and straightforward as few available options would charge a little for the rendering service.
The only problem is that you cannot go with all the money you want to cash. Using such services can be a fast and easy process; you don’t have to wait for days for the check to get cleared. Not going to the bank or using a service also guarantees that your money will not be tied up.
How To Cash A Workers Comp Settlement Check
The Issuing Bank
Let’s assume you choose to use the bank that issued you a check, and the bank’s branch is close to you; you can walk to the branch and speak with the teller, informing him or her that you will like to cash a check. Using the issuing bank will require you to present two forms of identification, including a state-issued identification card or a driver’s license.
You might have to pay a fee for charges, but this depends on the bank you want to use because non-customers might have to pay an extra fee for charges. The charge you might have to pay might be a flat rate fee, or it might be a percentage gotten from the check.
Retail And Convenience Stores
Taking a look at some convenience and retail stores, you will realize that they carry out check cashing services. Let us take, for instance, a company like Walmart, Walmart carries out check cashing services for several checks, including insurance settlement checks, 401K’s, tax refunds, IRA’s, government checks, and many more.
The maximum amount you are allowed to cash out using Walmart is five thousand dollars, and the few you will pay for any amount between one thousand dollars to five thousand dollars is six dollars. The interesting part of using Walmart is they do not ask for any registration process.
With Walmart, you would be able to cash your checks immediately, and another company that cashes check is the Kroger company. The Kroger company also has a five thousand dollar maximum cashing amount, and just like Walmart, they cash checks from several companies.
Walmart and Kroger’s difference is that Kroger fees vary from one location to another, giving customers money instantly without any waiting period.
Another difference between the Walmart and Kroger cashing service is Kroger requires its first-time customers to complete a mandatory registration process that involves providing a means of identification.
Check Cashing Stores
Just like the name implies, check cashing stores specialize in helping people cash checks, especially if they do not have a bank account. A customer might need to use a check-cashing service if the money is much for another retailer to cash or if the money is urgently needed. A store that runs a check cashing service is the Payday loan stores, and they do not require their customers to make a payday advance or take out a loan before making use of their service.
Another example of a check-cashing store is the Amcot stores, which cashes any insurance check amount, but customers must come with a government photo identification card. Amcot check cashing service fee varies from one location to another and on the amount a customer wants to cash. There are other checks cashing stores like the Check ‘N Go and Moneytree checks cashing store.
The Check ‘N Go check cashing service charges fees based on location, and you will be required to present an ID while the Moneytree requires customers to come with a Photo ID issued by the government, and you will be able to cash any amount.