I wanted to find out, “Does Walmart cash checks (both personal and business)?” Here is what I learned in the process!
Walmart is a well-known name in every American household. However, it isn’t just a famous retail store, as it also offers several financial services through the Walmart Money Center.
So… Does Walmart cash checks? I’ll answer this question in detail and explain what types of checks you can cash at Walmart and the ones you can’t.
Does Walmart Cash Checks?
You can benefit a lot from your trip to Walmart. Not only can you get the best goods for exceptional prices, but you can also cash some checks you have.
It’s easy, fast, and convenient because you don’t have to bring any documents except your ID and the check. The employees will help you get your money, and you can quickly transfer it to your Walmart MoneyCard. You don’t even have to pay for the card if you issue it online.
You can actually receive your money in two ways when you cash a check at Walmart. The first is to obtain actual money, and the second is to recharge your Walmart MoneyCard. People buy and recharge this card to make purchases in the store or on the online website.
Registration isn’t mandatory, and you don’t have to buy anything from Walmart. Bring a valid driver’s license, passport, or ID and your check, and you’ll receive your money if your check is acceptable.
The first step is to endorse the check by writing your name on the check’s back, and the employees at Walmart will be happy to help you. Walmart charges different fees according to the amount and type of checks cashed. There are also some rules you need to be aware of.
- You can only cash three checks per day. So, if you have more checks to cash, you’ll have to make multiple trips to Walmart.
- Walmart doesn’t cash any check if the amount is more than $5000, except between January and April. During this period, you can cash checks with amounts of up to $7500.
- You pay a $4 fee for cashing a pre-printed check with an amount of $1000 or less. The fee is $8 if the amount is between $1000 and $5000.
- If you have a Walmart MoneyCard and choose to transfer the cash to the card, you won’t pay the reload fee.
- There’s a $200 limit if you’re cashing a two-party check.
You can cash a check at the bank, but things can be too challenging if you don’t have a bank account. Although it’s not an official financial center, Walmart offers the services of a MoneyCenter.
There are different checks you can cash at Walmart. If you’re not sure about the type of check you have or whether you can cash it at the store, you can always ask the staff for help.
See also: Does Walmart take passport photos?
Also known as an official check, the money on this check comes from the bank’s funds, not yours. People usually get these checks for large purchases because they offer several security features. The teller or cashier signs the check, so it guarantees that money will be paid on time.
If the government is sending you a payment, you can cash the check at Walmart. This check can be for financial aid, tax refund, food stamps, social security, an official grant, and unemployment benefits.
This check allows you to receive funds from your employer’s account and add it to yours. The financial value of the check is determined based on your fixed salary, the number of hours worked, or your hourly rate.
This check comes with printed data, including the bank’s name, address, account number, payer’s name, and the period after which the check can’t be checked. Yet, the recipient’s name and the amount should be filled in.
This is a tax refund paid to you by the government if you’ve overpaid your taxes. It’s not unusual to receive a tax refund as a taxpayer, as you might be eligible for a refundable tax.
When you make an insurance claim, the company will process your case, and the judge will determine the amount you receive in compensation. After your insurance case, you usually receive a settlement check with the amount you get in compensation after deducting all expenses.
You receive this check as part of your retirement plan. Many American banks offer such programs to help people secure their lives when they can no longer work. The employee chooses how to invest their money from a set of options provided by the employer.
In this case, the check’s writer issues the check to one person. Then, this person writes it to someone else, who can finally cash it.
Money orders aren’t checks, but you can cash them, just like checks. You don’t need a checking account, and you can check the money status online.
Unfortunately, there are some checks you can’t cash at Walmart.
These are handwritten, unlike printed checks. Walmart doesn’t cash these checks because they’re less common, so employees might not be familiar with them.
Moreover, because these checks are handwritten, there’s a higher risk of fraud, and some of the data might not be accurate. In general, people don’t use handwritten checks as much as they use pre-printed checks.
Unlike cashier checks, this check withdraws money from your checking account. Unfortunately, people don’t use these checks as often as they used to because they’re old school, and they currently replace them with new payment forms like Venmo, debit, and credit cards. They also take more processing time.
People write postdated checks with a promise from the recipient that they will cash the check at a later date. People can cash any postdated check at a prior date, which might not be what you and the writer have agreed to. Since the issuer might not have enough money in their account, Walmart will refuse to cash this check.
If you have a check that is more than 180 days old, you won’t be able to cash it at Walmart. In addition, some banks won’t accept old checks, so it’s best to reach the check’s writer and ask for a replacement check.
If someone writes a check to multiple payees, all of them should go to the bank with valid government IDs to endorse and then cash this check. Since this process is pretty challenging, Walmart doesn’t offer this service.
People can cash checks at the bank but choose to cash at Walmart for several reasons. Here are some pros to consider.
- Walmart charges lower fees than the ones you pay at the bank when you cash the check.
- Cashing checks at Walmart can be more convenient if you live near a store.
- You can directly cash your check and deposit the money into your MoneyCard.
- You can do your shopping and cash your check at the same time.
Yet, there are some drawbacks you need to consider if you’re cashing your checks at Walmart.
- Walmart doesn’t accept all checks.
- There’s a limit on the number of checks you can cash and the amount per check.
- If you live near a bank, then cashing your check at the bank will be more accessible.
Walmart offers a convenient service that allows you to cash different types of checks without going to the bank. You just have to bring a valid ID and the check, and the employees will be happy to help you.
Yet, there are different checks that Walmart won’t accept, and there’s a limit you can’t exceed. So, it might not be the most convenient option in your case.