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Why do Banks charge you to cash a check that is from their own Bank.

  1. jcat profile image65
    jcatposted 7 years ago

    Why do Banks charge you to cash a check that is from their own Bank.

    When I get paid my payroll check I go to the bank to cash it and I get charged $6 dollars because I do not have an account with that Bank.  In the past I remeber never having to pay a fee to cash check.

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  2. profile image0
    Yarightposted 7 years ago

    It's probably a  new policy they have to make even more money. They also charge you to get you to make an account with them. I remember when my jobs checks were from Wells Fargo, I could cash them without an account, and without any penalty. I don't know if I still could, because I use the local credit union. I think credit unions are a lot better than the big banks like Wells Fargo, UsBank, TCF, etc...

  3. Horatio Baccus profile image60
    Horatio Baccusposted 7 years ago

    To create a preventive/punitive cost for those who would either choose to not engage in private banking or those whose past prevents them from said engagement.  As banking has become more and more of a requirement of modern society they feel it gives them to a right to punish those who don't kneel to their ways.  The biggest threat to any banks power is not their competitors customers but those who don't recognize the authority of the banking system to do anything burn... BURN!!!

  4. profile image0
    Butch Newsposted 7 years ago

    Who is going to pay the rent?  Who is going to pay the teller?

    Who is going to pay the accountant?

    Why are you not cleaning your neighbour's house for free?

    My bank doesn't charge me but I do pay a monthly service charge which provides some basic services one of which is cheque cashing.

 
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