When you deposit a check at the bank, it may take a few business days for the check to clear.
Instead of depositing the check into a bank or credit union account, you walk out of the check-cashing storefront with immediate cash. If you have a paycheck or government check, such as a Social Security check, check-cashing services will verify your identity, cash your check and give you the money immediately, minus a fee. In addition to stand-alone check-cashing companies, some retailers, such as Walmart, also offer check-cashing services. Some of these companies also offer payday loans or payday advances.Īccording to Financial Services Centers of America (FiSCA), the industry trade group representing these companies, there are approximately 13,000 neighborhood financial services centers in the U.S., providing an estimated $106 billion of financial services per year to around 30 million customers. They are financial services providers that offer a range of simple transactions and consumer finance products, such as check cashing, money orders, electronic bill payment and small loans.
0 kommentar(er)
