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Receiving a check is a reward in any business as businesses are operated to earn profit. So, cashing out these checks is very important to receive money. Nowadays, online payments are getting popular in the business, but some businessmen don’t feel this method is trustworthy. So, they want a direct business check from their customers. For cashing out the business check easily, a business bank account is necessary. However, some people don’t want to involve any bank account in this cycle. They tend to move on without involving a bank account as there are some easy ways to cash out the business checks without a bank account. But to do this effectively, you should have a proper understanding of how to cash out a business check without a bank account.
Without proper knowledge about cashing out the business checks without a bank account, you can get money. So, learning all about this query is important. But learning this method needs proper research, which is a time-killing task. To save your precious time, we’ve done this job for you. In this guide, you’ll learn all about how to cash out checks without a bank account. So, let’s move on without wasting our precious time.
How to Cash a Business Check Without a Bank Account
It’s quite easy to cash out business checks when you have a proper business bank account. However, if you lack this facility, you may face certain complications. To avoid any problem, complications, or confusion, you’ll have to learn how to cash out a business check without a bank account. Here are some alternatives for this task.
Many retail stores offer you the facility of cashing out business checks without any bank account. Walmart is one of the similar stores that offer you a check-cashing facility. You can cash out your business checks by presenting them to the service desks of any of such stores.
You can also have a Walmart MoneyCard to deposit your credits there. However, such card service may charge additional fees along with cashing out fees. Retail stores will charge a certain fee to cash out the checks. This fee depends on the type of transaction.
You’ll have to verify your government-issued identity while requesting cashing of business checks on any retail stores. You can cash out checks up to $5000 via Walmart retail store. If you want to cash out more, you may request multiple transactions. Along with Walmart, other retail stores such as drug stores and supermarkets also offer this cashing facility in some states.
Via Bank Account
If you want a permanent solution for cashing out your business checks without a bank account, approaching any near and dear who has a business bank account in the same check issuing bank is the best option for you. Cashing out your business check in this way will save your processing fee.
The check issuing bank can also cash out your business checks after verifying that the checks are of a legitimate account. However, it may be costly due to heavy bank fees. These are some ways to use the same bank to cash out your business checks.
Via Any Verified Money Center
Another option to cash out your business checks without a bank account is via verified money centers. However, this will be comparatively costly for you as they will charge more fees than the bank or retail shops. Also, you’ll have to apply to any of the verified money centers to cash out your business check. The relevant center will process your application to configure all about you and your check. After this, you’ll be able to receive the given amount.
A benefit of this method of cashing out checks over banks is that this method is relatively quick. Banks have to process other checks, too that may take a lot of time. But when you rush to a money center, you’ll receive the money quicker than the banks. But this may be costly due to the high charges of these centers.
Via Reliable Check Cashing Stores
Another convenient way of cashing out your checks, just like the above method, is via any reliable cashing store. You may find multiple stores of this type in your neighborhood. Such a service will be convenient for you compared to the other methods, but it will also be expensive.
Such stores charge a certain percentage of the check amount, which may be up to 5 percent or even more in some cases. If you want to use these stores just once, these can be afforded. However, these stores are not good for frequent use due to their high prices. Also, to cash out a heavy amount, you’ll be charged very high.
By Transferring to Any Prepaid Debit Card
Another option to cash out your business checks without a bank account is by transferring this money to any prepaid debit card and then cashing out from there.
You can scan your check by using the mobile application of the relevant bank. By doing so, you can get a chance to submit your check amount to that particular bank account whose debit card you’re carrying. But this is a time-killing method and may take up to 10 days to cash out a single check. Also, the debit cards may expire, and you’ll have to apply for another one. This also kills your precious time. So, if you can wait for all the above issues, you can also use this method to cash out your business checks. Certain charges are also applicable in this case, but these may be low compared to the previous method.
What are Common Issues with Cashing out Business Checks?
Sometimes, you may face any difficulty in cashing out your business checks via a bank account. This is due to certain issues with the business checks you received.
Sometimes you receive a check from any of your customers or business partners made in the name of your business. Unfortunately, you don’t have any business bank account in the name of your business. This will cause a problem in cashing out the check. You can’t receive money without a proper business checking account. Try to open your business account to avoid all hurdles, difficulties, and confusion.
For a safe and secure transaction, keep in mind the following measurements.
- Get your customer’s credit card number too.
- Try to release your amount in the form of a wire transfer.
- Avoid using a business account. So, try to receive money in your personal Bank Account.
Also, learn those check cashing options that don’t require a bank account.
If you follow the above-mentioned preventive measurements, you can prevent all types of difficulties while cashing out your checks.
Frequently Asked Questions
Will Walmart cash a check made out to my business?
Yes, you can cash out your business checks without a bank account via Walmart store. You’ll have to submit your checks to such a store. They will configure your identity and all other business information to confirm that your check is legitimate. After their verification, you’ll receive the concerned amount. Also, you’ll have to pay their fee.
Can I deposit a check made out to my LLC in my account?
Yes, you can do so as it is a legal proceeding. You can mingle your check amount to your account by depositing your checks to this account.
Should I put my name on my business checks?
Yes, you should put your signature with your clear name on your business checks. However, along with your name and signature, you should also write the name of your LLC and the title of your organization.
How can I cash a check made out to my business without a business bank account?
There are multiple ways to check out your business checks without a bank account. Some reliable methods are such.
- Via Walmart and other retail stores
- Via bank account
- Via reliable check cashing stores
- By using a debit card
- Via verified money centers
Can you cash a business check in a personal account?
If you’re a sole proprietor, you can deposit your business checks into your account. It’s quite easy and legal to do so.
What banks will cash a check without an account?
You can cash out checks without a bank account via the following banks.
- TD bank
- Bank of America
A business bank account is one of the supporting elements in any business. This prevents you from many difficulties. Also, it increases your trust in your customers. They can believe that your business is quite legitimate. Having a business account makes check cashing easier and convenient.
However, if you don’t have a business bank account and receive a business check from your customers, there are many easy ways to cash out these checks. But you’ll have to learn all about these reasonable sources of cashing out your business checks without a bank account. Some of the best and reliable business checks cashing methods are illustrated in the above section. You can use any of them according to your convenience.
I am Lavinia by name, and a financial expert with a degree in finance from the University of Chicago. In my blog, I help people to educate by making wise choices regarding personal investment, basic banking, credit and debit card, business education, real estate, insurance, expenditures, etc.