How to avoid big fees when cashing a paycheck.This video tells you how to shop around to avoid big fees if you don’t have a bank account to cash a paycheck. It also shows examples of how different the fees can be at various check cashing places.
Mary got a paycheck from her job. She didn't have a bank account, so she needed to find a place to cash her check.
Mary knew the fees could be expensive, so she shopped around. She found a check-cashing business and a grocery store that cashed checks. The check-cashing store charged 10% of her paycheck. The grocery store charged $10.
So Mary called the bank that issued her paycheck. The bank would cash her paycheck for free. And, luckily, it was near her house.
Because Mary had time to shop around, she didn't have to pay big fees for cashing her paycheck. That made her really happy.