Where to cash income tax checks

Where to cash income tax checks

Posted in the Jonesboro Forum

Since: Nov 08

none ya

#1 Feb 18, 2009
My friend will be getting his income tax check this weekend. It will be around $5,500. He does not have a bank account. Where can he get it cashed?
wow

Jonesboro, AR

#2 Feb 18, 2009
why no bank account? how can any one survive now days w/o a bank account??
One-Up

State University, AR

#3 Feb 18, 2009
He can probably cash it at a bank for a certain fee.

“The Female Guest”

Since: Jan 09

Paragould, AR

#4 Feb 18, 2009
the cat lady wrote:
My friend will be getting his income tax check this weekend. It will be around $5,500. He does not have a bank account. Where can he get it cashed?
WalMart will cash them. So will Dodge store in Paragould

Since: Nov 08

none ya

#5 Feb 18, 2009
I thought Wal Mart would too but they said there is a $1500 limit per person per week.

I called a check cashing place today and they charge 10%. He may just have to do that.

I was just hoping someone knew another way that might save him some money.

Thanks

Since: Nov 08

none ya

#6 Feb 18, 2009
Oh and I don't know why he doesn't have a checking account, but I don't have one either.

It's totally possible to get along with out one. I've never had a problem.

Of course, I've never had a $ 5,500 income tax check to cash either.
Piano Man

State University, AR

#7 Feb 18, 2009
the cat lady wrote:
I thought Wal Mart would too but they said there is a $1500 limit per person per week.
I called a check cashing place today and they charge 10%. He may just have to do that.
I was just hoping someone knew another way that might save him some money.
Thanks
Contact multiple banks and setup a checking or savings account with $50 or $100 to cash it. Not that hard.

TRP

Since: Oct 08

Jonesboro, AR

#8 Feb 18, 2009
Pulaski Bank use to cash them for free even if you didn't have a bank account.
wonder

Jonesboro, AR

#9 Feb 18, 2009
why would any one not have a checking account?
guest

Little Rock, AR

#10 Feb 18, 2009
I would tell him to go and open a checking account. If he wants afterwards he can close it back out.

Since: Nov 08

none ya

#11 Feb 18, 2009
Thanks everyone.

“The Female Guest”

Since: Jan 09

Paragould, AR

#12 Feb 18, 2009
the cat lady wrote:
Thanks everyone.
Either that, or some banks will cash it for a small fee.
yeah

Lake Charles, LA

#13 Feb 18, 2009
I bet banks will charge less of a fee than the check-cashing place will. Might be worth spending a few minutes to call a few banks and ask them.
inside out

United States

#14 Feb 18, 2009
your friend needs to find a friend or family member that does have a bank account and have them go with him/her to cash the check at their bank...a family member did it for me with no problem and there was no fee charged
Country_Girl

Jonesboro, AR

#15 Feb 19, 2009
I don't have a banking or checking acct. I would rather not keep what money I have tied up in a bank that I can't trust. With this faltering economy, you never know what could happen.
Tyler

Fort Plain, NY

#16 Feb 24, 2009
With banks your money is not safe no matter what they tell you. Remember when you deposit money into a bank you are LOANING them the money. If they invest it poorly and lose it all, well tough luck on you. They protect themselves with FDIC plaques stating they are insured but don't believe it. How can anyone trust banks in 2009 anyway? They are all skeeving for the bailout money so how well could they be doing business up till now? You wouldn't dine at a restaurant that asks you for $10 up front so they can buy the food would you? So why do business with financial institutions that can't prove they have been successful...

Also, from their own website the FDIC states they exist "To protect insured depositors, the FDIC responds immediately when a bank or thrift institution fails".

The key word here is "a". They can cover minor losses, but as other posters here said if the economy tanks they aren't going to reimburse everyone who loses their money. Impossible. Imagine if State Farm Insurance suddenly had to face every single account holder filing a claim at the same time -- they'd go bankrupt overnight. When people realize how precarious of a position they have put themselves in they make whats known as a "run on the bank" and everyone pulls their cash out. Banks hate that, and discourage it. Now why on earth would you do business with a company that discourages free thought?

Not to mention that when you have your money in electronic form you are vulnerable to 1.) hacking, and 2.) seizure of all your funds instantly if you have financial or legal trouble.

Paper money isn't passe, its the wave of the future. Protect your money; know where it is. Get a fireproof safe.
Anna

Jonesboro, AR

#17 Feb 24, 2009
Or you could invest in gold and silver.

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