Cash Your Check at Walmart for $3.00
75Do You Really Need a Checking Account?
With our global financial house in complete disarray, banks closing and going bankrupt, scams on Wall Street and the values of homes and our savings accounts plunging, many people are starting to re-access their banking habits and their ways of doing money.
I for one have made some major changes in my life. After closing our sign business a few months ago - and starting a new venture - I have made some radical changes to the way I handle money. One of those ways is utilizing WalMart to cash my checks.
Yes, you heard that right - WalMart - or "Wally World" as some people like to affectionately call the behemoth store that offers everything from diapers to financial services - including cashing checks, getting money orders and even offering a down-loadable credit/atm card.
Cut Cost - And Save Money!
I have gone on strike against banks. After running a small business for over 14 years, getting gouged right and left for service charges, late charges, and charges just to be charges, I have gotten sick and tired of my hard earned dollars go down some wasteful bin at my local bank. In retaliation, I have closed all my checking accounts and now deal strictly in cash. I cash my payroll checks at Walmart for just $3.00 - then I upload the money to my WalMart credit card, which means I will now spend only what I have earned - no more, no less. I have no credit cards so there is no temptation for me to overspend on items I really don't need or want. I pay only $4.95 a month for my monthly service charge on my up-loadable credit card, and when I upload my paycheck to the card it is free.
Works for me!!!
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I'd Rather Wait In Line at WalMart
The only tiny drawback is sometimes a brief wait to cash my check at Walmart - but it's no more of a wait then the one I used to have standing in line at my bank.
With proper id and a signature after cashing my check for just $3.00, I'm on my way into the store where I can then pick up items I also need (killing 2 birds with one stone !) If I have a bill that needs to get paid, I get a money order for a cheap 43 cents which then gets mailed. No more automatic debits to keep track off, no more check book to have to balance, no more service fees because I slightly overdrew my account ( that would just rankle me to no end when I ended up paying an "over-limit" charge of $29.00 for a $4.00 item!!) No more worries about the endless array of charges on my supposedly "free" checking account ( free is not really free you know)
So for those of you out there that are making changes to the way you handle your money, and are going the cash route, you might want to check out the $3.00 check cashing service that Walmart offers.
$3.00 sure works for me!
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Comments
Georgiakevin - It took awhile for me to get to this mentality. My husband was always saying "use cash, cash, cash" and now I finally understand what he has been saying all this time. When we had our business we had so many charges it wasn't even funny- one month a whopping $600.00 service charge! That was it!
I definitely understand Dorsi. Many of these cards work just as good or better than a "traditional" bank account. I use AccountNow and it works well for me:)
http://hubpages.com/hub/Prepaid_Debit_Card_Custome
Can you not just get a free current account?
Dorsi, I have banked at a credit union for years. Credit unions are not for profit member-owned organizations. My credit union was awesome when I had my business disaster. Because (a) I had always had a clean record prior to that and (b) I had let them sit on hundreds of thousands of dollars on the float they tried very hard to make me happy. They were very understanding, and they erased all kinds of overdraft charges that accrued because of what that SOB Card Service International did to me. Of course they get socked with interest rates on investment products just like everybody, but they are unlikely to pull a Maddoff with our money, not with the amount of member oversight that they get.
I haven't had a credit card in years. I but I do have a checking with direct deposit, which mean free checking. But you have to very careful because the banking system is a smart computer and will switch you transaction around deducting one larger amount allowing you to bounce three cheecks. Banks will hide debits, trying to summit when there is not enough funds to cover the charge. I have check my account at night, made a withdrawal only to go on the computer at 6:00am the next morning to find a debit has went through and charge my account $35.00 I have went to the bank that morning to cover my debit and they still won't take off the $35.00 so now I am really careful.
I thought, till now, that the only way to do this was 'Money Gram'. Thx for adding on to my info.
Dorsi, this is very interesting. I was wondering if one can direct deposit in this Wal Mart card? I too am disgusted with the unethical and crooked bank practices. Thanks dear.
Dorsi, it looks as if you found a way that works for you. Now, if only Wal-Mart could tie the value of their "dollars" to the price of groceries, this would be a good way to fight inflation, too.
good info
I bank with Washington Mutual, and my checking and savings is 100% free. No monthly charges, and no problems as of yet. Been with them for 2 years now, and love it. You should try it though, why pay a month fee to use them? I dunnno though, maybe this bank is not in your area. A great bank though for sure.
I don't blame you for striking on the banks. They are the theives of today. We are getting hit with overdraft fees when there is not overdraft and they cannot explain them. We are looking at taking them to court right now.
Thanks everyone for stopping by and reading. I've banked with many different banks over the years- B of A, Washington Mutual and Fremont Bank. So far the "bank of Walmart" has been the easiest to keep track of! Perhaps if I still had a retail storefront I would still have to have a checking account but now I don't need one and I love it!!
I do have a credit union account which I actually should be utilizing better. My dad always swore by credit unions!
I wish i could understand using Wal-mart as your bank, but I just cannot. You should try direct deposit into an ING Direct or FNBO Direct and gain interest on your checking account. I've never been charged a fee for ING Direct and if I overdraw, I can transfer the money from my Orange Savings account the same day and receive no penalty. Just my thoughts.
Kevin, because we were in a small business, we had so many things to keep track of. Visa statements, American Express statements (we took credit cards), service charges for our "analyzed" business accounts (which would vary from month to month), overdraw fees when our customers checks were on hold and we didn't even know it, just a few "perks" of our business. Am I bitter? Yes, banks make most of their money off of service charges. Charges I am glad I no longer have to be part of. In an attempt to simplify our life this is the easiest route and I love it!! It keeps me accountable, Walmart sends me a message on my phone everyday on what the balance on my Walmart card is, and this is working just wonderfully for me. It is a totally different mindset though, and not for everyone. At one point I will utilize my credit union again, but not a bank, at least not the way I did before!
Great story, Dorsi. Disgusted with banks and their crap, I closed my account altogether and chose to cash my checks at a local "Checks Cashed" place. The aggravation ceased immediately! But, Wal-Mart sounds like an even better option.
Hi Dorsi, Constant Walker directed me over to your hub. A novel solution, indeed. But this is definitely the time to get creative. It is anything but business as usual. I am on the verge of pulling my money (such as it is at present) from Wells Fargo. A credit union or smaller, more small-business-frienly bank is looking good to me.
For me, the problem with cashng checks at Walmart is that I would then have to violate my personal "No Walmart" policy. But I am sure Costco, of which I am a member, offers similar services.
Thanks for the seed of an idea! And for (as usual) a great hub. MM
Thanks Constant and Mighty Mom for the comments! I didn't used to like Walmart but we've got a couple new ones close by that are really nice, not alot of traffic and a good selection. I love banking this way but eventually I will probably open a checking account with my credit union if I start getting personal checks from people. That's the only drawback with Walmart is that they only cash state and payroll checks.
Nice hub, very useful advice, thanks!
Walmart wont cash my payroll check i make over 2,000 so walmart is of no use to me untill they up how much they will cash.
Thanks everybody- glad the article was helpful. Cashing a check at Walmart is easy and cheap-especially if you don't have a back account.
And yes I guess they do have limits on the amount of the check. I was not aware of that.
Nice HUB, but unfortunatelly walmart is not in my country.
Thanks everyone for dropping by and reading up on check cashing at Walmart, and the Walmart money card. I am only a writer who has written about this from my own personal experience so I cannot help you get balances or anything else like that. You need to go the Walmart money card website to do that.
I do most of my banking on computer-- the bank likes it. Easier for them and for me. There's no fee on my accounts. In fact, if I have a couple of direct deposits (I always do) and a few debit card purchases (I always do) and log in every month-- they pay me a little interest.
Maybe you need to shop around for a bank. But if you are happy with paying the Wal-mart charges instead of getting interest, I guess it is working for you.
For me Rochelle it's actually about trying to avoid banks, at least for now. I found myself having too many service charges for not staying right on top of my accounts. When we had our business I had a whopping $600 service charge one month, and after we closed I decided it was in my best interest to go "cash" until I could do a better job at tracking my money. One problem I had was keeping track of debits. It got me into trouble. I like the Walmart money card and check cashing services because it's relatively inexpensive. I go to Walmart anyway and the lines are sometimes less then what my bank would be so it's convenient for me too.
Walmart in the News
- Man sought for using counterfeit moneyWAVY TV 10 Portsmouth3 days ago
Police are looking for a man accused of using counterfeit money at the Walmart located on Lynnhaven Parkway in Virginia Beach.
- Walmart, Target slash online prices of popular DVDsChicago Tribune34 hours ago
The retailers will charge $10 for top-selling new releases. The moves come as Redbox, which operates $1-a-night DVD rental kiosks, reported soaring revenue and profit. An unprecedented round of online price cutting for DVDs started Thursday that could provide a much needed boost for the beleaguered home entertainment industry.
- Walmart gets heavy Cave Creek voter support, but school overrides less popularThe Arizona Republic3 days ago
Unofficial election results show that Cave Creek voters ushered in Walmart with open arms, while Northeast Valley voters had varying levels of support for school districts' override proposals in Tuesday's elections.
Walmart Savings
- Walmart - Video Games Under $20
See site for details.
- Walmart - Toys Clearance Savings at Wal-Mart
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- Walmart - Top sellers in Electronics.
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Georgiakevin says:
10 months ago
Great hub but not quite ready to do what you are doing just yet!