Paycheck cashing companies...

[batchusa]

is it 2-3%? just curious, not planning to use one btw

 

[Svnla]

I never use them but 1% is what I saw on Circle K stores windows. Grocery stores and even Wal Mart are doing it too.

 

[Triumph]

Why do people use these? How hard is it to get a bank account?

 

[I Saw OJ]

I thought it was a flat fee for different ammounts ie;

15$ for 100-200
20$ for 201-500
30- for 501-5000 or whatever

you get the point

 

[allisolm]

Originally posted by: Svnla
I never use them but 1% is what I saw on Circle K stores windows. Grocery stores and even Wal Mart are doing it too.

Same here.

 

[ponyo]

Originally posted by: Triumph
Why do people use these? How hard is it to get a bank account?

Some people can't get bank account.

Standard fee is 1%.

 

[allisolm]

Originally posted by: Naustica

Originally posted by: Triumph
Why do people use these? How hard is it to get a bank account?

Some people can't get bank account.
Standard fee is 1%.

I guess I've led a sheltered life - how is it that a person can NOT get a bank account?

 

[Pepsi90919]

Originally posted by: Triumph
Why do people use these? How hard is it to get a bank account?

Answer.

 

[jonessoda]

Originally posted by: allisolm

Originally posted by: Naustica

Originally posted by: Triumph
Why do people use these? How hard is it to get a bank account?

Some people can't get bank account.
Standard fee is 1%.

I guess I've led a sheltered life - how is it that a person can NOT get a bank account?

Illegals, mostly. Banks require a legitimate SSN in the name of the applicant, something most illegals do not have.

 

[Triumph]

Originally posted by: jonessoda

Originally posted by: allisolm

Originally posted by: Naustica

Originally posted by: Triumph
Why do people use these? How hard is it to get a bank account?

Some people can't get bank account.
Standard fee is 1%.

I guess I've led a sheltered life - how is it that a person can NOT get a bank account?

Illegals, mostly. Banks require a legitimate SSN in the name of the applicant, something most illegals do not have.

Gee that's a shame.

 

[manlymatt83]

Or Chex

 

[Baked]

Originally posted by: allisolm

Originally posted by: Naustica

Originally posted by: Triumph
Why do people use these? How hard is it to get a bank account?

Some people can't get bank account.
Standard fee is 1%.

I guess I've led a sheltered life - how is it that a person can NOT get a bank account?

They get blacklisted for writing too many bad checks.

 

[I Saw OJ]

In response to people not being able to get a checking account. I wasnt able to get a checking account at BofA about a year ago. They told me I needed like 4 forms of ID, and a utility bill in my name going to the place I live. Well the 4 forms of I were quite a stretch, and since I was living with roommates and none of the bills were in my name, I was screwed. The guy said it was because of the Patriot Act that I couldnt get a checking account, I thought he was full of the brown stuff.

 

[Baked]

Originally posted by: I Saw OJ
In response to people not being able to get a checking account. I wasnt able to get a checking account at BofA about a year ago. They told me I needed like 4 forms of ID, and a utility bill in my name going to the place I live. Well the 4 forms of I were quite a stretch, and since I was living with roommates and none of the bills were in my name, I was screwed. The guy said it was because of the Patriot Act that I couldnt get a checking account, I thought he was full of the brown stuff.

Damn, that's pretty F up.

 

[Gibson486]

Originally posted by: Triumph
Why do people use these? How hard is it to get a bank account?

some people like to cash the check for cash right away. At a bank, you have to have sufficient funds (the amount on the check) in your account to do so and some people don't have that.

 

[doze]

Cash your check at the bank your employer uses, no account required and you keep 100%

 

[ponyo]

Originally posted by: doze
Cash your check at the bank your employer uses, no account required and you keep 100%

Not anymore at most mega banks. Most now charge you $5 fee for cashing a check that's drawn from their bank if you do not have account with them. Talk about greedy.

There are several reasons why person might not be able to get a checking account. Not having proper ID and documents can be one. Others can't get it due to being listed on ChexSystem.

Many young people are never taught the value or the how to of properly managing their credit and bank account. All it takes is one major screwup to be banned for a long time.

 

[pulse8]

Originally posted by: Gibson486

Originally posted by: Triumph
Why do people use these? How hard is it to get a bank account?

some people like to cash the check for cash right away. At a bank, you have to have sufficient funds (the amount on the check) in your account to do so and some people don't have that.

How about going to the issuing bank for cashing? That makes the most sense to me.

 

[miri]

Originally posted by: I Saw OJ
In response to people not being able to get a checking account. I wasnt able to get a checking account at BofA about a year ago. They told me I needed like 4 forms of ID, and a utility bill in my name going to the place I live. Well the 4 forms of I were quite a stretch, and since I was living with roommates and none of the bills were in my name, I was screwed. The guy said it was because of the Patriot Act that I couldnt get a checking account, I thought he was full of the brown stuff.

Weird, I just opened a account with Bank of America and live in the same state as you, California and all they required were 2 forms of identification

 

[kranky]

Originally posted by: pulse8

Originally posted by: Gibson486

Originally posted by: Triumph
Why do people use these? How hard is it to get a bank account?

some people like to cash the check for cash right away. At a bank, you have to have sufficient funds (the amount on the check) in your account to do so and some people don't have that.

How about going to the issuing bank for cashing? That makes the most sense to me.

Still would probably have to pay a fee as a non-customer.

 

[middlehead]

Originally posted by: Naustica

Originally posted by: doze
Cash your check at the bank your employer uses, no account required and you keep 100%

Not anymore at most mega banks. Most now charge you $5 fee for cashing a check that's drawn from their bank if you do not have account with them. Talk about greedy.

If the check's big enough, that $5 fee is probably less than even the 1% at a cashing place.