Many people on the ChexSystems list use check cashing stores on a regular basis to cash their paycheck or benefits check. Check Cashing stores don’t do this for free—they charge a check cashing fee. This fee is usually listed as a percentage amount, such as 2 to 3% of the face amount of the check you are cashing. For example, if your weekly paycheck is $350, a Check Cashing store may charge you $7 to $10.50 just to cash the check for you. Some Check Cashing stores charge different amounts to cash personal checks, payroll checks, and Government benefits checks. However, any way you look at it, you are paying a chunk of your hard earned paycheck each time you visit a Check Cashing store. The fees can add up quickly!
Related Terms: ATM Surcharge NSF Fee