Check Cashing When You Don’t Have a Bank Account

May 12, 2022

Believe it or not, writing and cashing checks dates back to ancient Rome. So, you’d think there would be no more questions about the benefits of this type of payment system. But things have gotten a little more complicated in recent years, as more and more types of checks are issued while fewer people are writing personal checks themselves. With digital forms of payment on the rise and checking accounts headed in the other direction, there are still some important things to know about cashing checks – and why they’re not going away.

Millions of Americans don’t have bank accounts in which to deposit checks they receive, let alone checkbooks with which to write them. Yet with so many types of checks in circulation, people receiving them should be sure they’re going somewhere reputable to turn that piece of paper into dollars quickly and conveniently. A business that is both trustworthy and locally known, South Suburban Currency Exchanges have over 65 years of experience cashing checks for Chicago-area residents in a fast, courteous and efficient manner, while helping people with countless other funding needs.

Top Benefits of Check Cashing That Banks May Not Offer

Check cashing services remove the stress of dealing with large financial institutions. At a big bank, you’re anonymous. Bank accounts can come with rules and hassles, and it’s important to know what those are before committing to one. But check-cashing businesses don’t require you to have a bank account to cash your checks. Most customers are in and out lickity-split. Plus, there are four huge benefits:

  1. No bank account required
  2. No monthly maintenance fees
  3. Immediate access to your funds
  4. Additional convenient services under one roof

Check cashing services at currency exchanges like SSCE provide a neighborhood feel because they have served nearby residents for decades with dozens of services that are available under one roof to save you time.

Types of Checks Cashed at Chicago South Suburban Currency Exchanges

With locations in Park Forest, Richton Park and Frankfort, SSCEs cash all types of checks for anyone who walks through the door – typically with more convenience and less waiting time than if you had to locate the proper bank branch to do the job. Customers can bring in just about any type of check:

  • Payroll
  • Business
  • Government
  • Tax Refund
  • 401(k)
  • Insurance
  • Workmen’s Compensation
  • Money Orders
  • Personal Checks
  • Commercial Checks

What Is Commercial or Business Check Cashing?

A growing number of freelancers, entrepreneurs and contractors are starting businesses or working independently, and they too need somewhere to access funds without delay. Small business owners in particular need check cashing options so they don’t have to wait for a check to clear the bank. With no holds at SSCE locations, they can get access to their money right away so that they can quickly cover overhead costs or reinvest that money back into the business.

Not everything is digital. Some 16 billion checks were reportedly written in 2018. Yet, as a busy entrepreneur, one of the hardest parts of your job will be keeping track of your funds. Knowing you have a simple, fast solution for every type of check that comes through your door will be a plus. The quicker you cash them – at a reliable location that can verify that the source of money is legit – the sooner you can enter that number into your spreadsheet for an accurate report on where you stand financially.

What You Need to Cash a Check at SSCE

As more and more people are relying on alternative financial services, check cashing places make it easy for you to bring in practically any type of check and walk out with cash in hand. In fact, the check-cashing process is quite simple:

  1. Bring in your check.
  2. Show an acceptable photo ID such as a driver’s license, state ID or armed services ID
  3. Walk out with dollars in your pocket.

If you are among the growing unbanked population relying on alternative services for your financial needs, be sure to check out everything else we have to offer, from sending MoneyGrams to electronic bill payments to auto-related services.

Find your nearest SSCE location so you can stop by and turn your check into cash today!

A person taking money out of their wallet.