Where Can I Cash Refund Check – Everyone has to pay taxes on their income, but some people pay more taxes than necessary during the year. The IRS sends tax refund checks to people who overpaid during the previous tax season. Some people interpret the check as free money, while others don’t like receiving it because it means they may pay less on tax day. With a check in hand, you have several options to cash it and use the money however you wish.
Creating a bank account has many advantages. You can store money and create multiple accounts to categorize your money. However, you don’t need a bank account to cash your tax refund check. Because the United States Treasury backs your refund check from the IRS, it may be easier to cash your IRS check at a bank, credit union, retail store, or ATM than trying to cash your personal check.
Where Can I Cash Refund Check
Consumers have several options for cashing their checks, but you’ll need an ID to receive the money. If this requirement didn’t exist, anyone could walk around with your tax refund check and claim it was you. Various documents count as valid identification, such as a government-issued photo driver’s license or identification card, an unexpired passport, or permanent resident card. In some cases, if you do not have a valid picture ID, you can provide proof of your birth certificate and social security number.
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When you receive your tax refund check in the mail, you want your money to arrive as quickly as possible. IRS checks from the U.S. Treasury expire within a year, and if you delay depositing money you may forget about the check. Life can get busy in a hurry. It’s best to finish the deposit so you can focus on other things. Below are five places to cash your federal tax refund check.
If you already have an account, you should start with your bank or credit union. Many banks and credit unions will cash your check for free if you have an account.
Banks and credit unions set their own policies, including fees for cashing checks for non-customers. If you’re not the account holder, a bank or credit union may not want to cash a personal check, but they may accept your federal tax refund check because it’s backed by the government. Banks and credit unions may limit how much cash people without an account can withdraw. Banks use these policies to encourage you to open a bank account.
Many people use ATMs to withdraw cash from their accounts. These handy options can also help with federal tax refund checks, but you must have a bank account. The ATM route requires you to deposit money before withdrawing money. You need to transfer the money from the tax refund check to your bank account and then withdraw it.
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Check cashing services help people without bank accounts who want instant access to cash. Some stores require you to create an account with them, and all require valid identification. Creating an account with a check cashing service will make it easier to cash an IRS check in the future.
Most check cashing stores do not display their fee structures online; so you’ll need to call or visit the store to find out how much it will cost to cash the IRS check. However, check cashing stores usually charge a fee based on a percentage of the check. This structure can become expensive, especially if you receive a large refund from the IRS. You can keep more of your money if you cash the check with another party.
Some large retailers and grocery stores accept tax refund checks in cash, but you may be required to pay a fee. To cash a check at these stores, you may be required to sign up for a free account and present valid identification.
Walmart will cash most pre-printed checks, including your federal tax refund. You don’t need to have an account, and you can cash checks for up to $7,500 between January and April and up to $5,000 during the remaining months of the year.
Refund Check Stock Photos
Walmart’s fee is based on the face value of your check. You can expect a fee of $4 for checks up to $1,000 and $8 for checks up to $5,000. Check cashing services are not available in every state; so it’s a good idea to check with your local Walmart to see if they offer these services. We offer this service.
KMart will cash your federal tax refund check for up to $2,000 for a fee of up to $1. In some states, like Georgia or New Jersey, you don’t pay any fees to cash your refund check.
You can also cash a check at your local grocery store. As long as you know your social security number and bring valid identification, you can cash your tax refund check at more than 2,000 Kroger stores. Fees start between $3 and $5.50 with your Shopping Card, depending on the check amount. Publix offers check cashing services through its customer service department, but you’ll need to check with your local store for required identification information, check limits, and fees.
Not everyone wants to convert their tax refund into cash. Some people prefer to keep money on a prepaid debit card. With 7-Eleven Transact Prepaid Mastercard, you can deposit your tax refund check through the app using your smartphone’s camera.
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Similarly, if you have an account at a bank or credit union, you have instant access to your money through your debit card. This feature is available if you can deposit your check through the app.
When you finally get your tax refund, you may not want to wait for the check to clear before using your money. Even if you don’t have a bank account, there are several ways to cash a federal tax refund check when you want your money now. You can still find ways to cash your federal tax refund check as long as you bring the check with you and have a valid ID.
Some banks and credit unions will cash your federal tax refund even if you don’t have an account. If you don’t have a bank account, you can also cash your federal tax refund at major retailers, grocery stores, and check cashing stores.
Walmart is cashing tax refund checks up to $7,500 between January and April and up to $5,000 the rest of the year. Check with your local store to see if they cash checks, as not every Walmart offers this service.
Tax Refund Check With Money And Checkbook Stock Photo By ©serenethos 150710058
While it’s possible to cash a tax refund check at an ATM, the more common approach is to deposit the federal refund check through an ATM and then withdraw the money from your account.
Marc Guberti Marc Guberti is a USA Today and Wall Street Journal bestselling author with more than 100,000 students in more than 180 countries enrolled in his online courses. He hosts the Breakthrough Success Podcast where he teaches listeners how to grow their business and achieve personal transformation. He frequently writes about personal finance and covers investing on his YouTube channel.
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This material is for informational purposes only and should not be construed as financial, legal or tax advice. You should consult your own financial, legal and tax advisors before engaging in any transaction. The information, including hypothetical financial estimates, may not take into account taxes, commissions or other factors that could significantly affect potential results. This material should not be considered an offer or recommendation to buy or sell a security. While the information and resources are believed to be accurate, we do not guarantee the accuracy or completeness of any information or resources provided herein and have no obligation to update such information. For more information about, please visit https:///terms-and-condition/.
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This material is for informational purposes only and should not be construed as financial, legal or tax advice. You should consult your own financial, legal and tax advisors before engaging in any transaction. The information, including hypothetical financial estimates, may not take into account taxes, commissions or other factors that could significantly affect potential results. This material should not be considered an offer or recommendation to buy or sell a security. For more information about, please visit https:///terms-and-condition/.
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