3 Reasons to Use a Check Cashing Service Instead of a Bank

This describes the three most common reasons Kansas City residents turn to  neighborhood check cashing services instead of banks.

There are more than 11,000 neighborhood financial services stores throughout the United States that cash over $180 million in checks every year. While traditional banking services can make more sense for many Americans, tens of thousands of consumers turn to check cashing services instead for a variety of reasons.

The following are the three of the most common reasons Kansas City residents turn to their neighborhood financial services center.

#1. Avoid the high costs of a bank
It’s estimated that 17 million people in the United States are “unbanked” while 45 million are “underbanked.” Banks are often an expensive solution for these consumers who may face bounced check fees, overdraft fees, insufficient balance fees, and monthly fees for failing to maintain a minimum balance. Banks only deposit funds 5 days per week but make withdrawals seven days a week. Bank checking account fees are also anything but transparent.

A check cashing Kansas City provider, on the other hand, offers a service with a clear, upfront, and affordable fee. Consumers using cash don’t have to worry about hidden costs, how much is in their checking account, and recurring charges.

#2. Fees to cash a check are reasonable
While some criticize the industry for charging a fee for what banks do for free, it’s important to remember that banks make up for this by charging for fees on many other services, including simply having a checking account. Cashing a check at a financial services center is generally very affordable with an upfront fee of 2-3% of the check amount. This means cashing a $1,000 check would cost $20 to $30.

Compare this to the upfront fee of 3-5% for a credit card cash advance and an interest rate of 20-29.99% and it’s easy to see the value of this service.

#3. More personal service
Many consumers who use a check cashing Kansas City storefront do so for the personal service. Banks can be very intimidating to some people, especially those who do not speak English fluently or have been turned down for banking services in the past. A neighborhood financial services store is often operating and staffed by people from the area who may speak the consumer’s language for a more comfortable transaction.

Financial services centers offer a valuable service to consumers who are underbanked or unbanked with predictable, low fees to cash a check. Waldo Financial is a leading provider of check cashing and payday loans with affordable solutions for Kansas City residents.

In summary, these are the three most common reasons why Kansas City residents turn to  neighborhood check cashing services instead of banks.

What Is a Federal Income Taxes Refund and Where Can It Be Cashed?

This check cashing article describes federal income tax refund checks and where to find the best tax refund check cashing location in Kansas City.

Tax season is drawing closer. Soon, thousands of people in Kansas City will receive their federal income taxes refund checks and will need a place to cash them. But many people aren’t sure what the checks cover, much less where to go to obtain their money.

Every person has federal taxes taken out of each paycheck during the year. The goal is to cover the full amount of taxes due at the end of the year without having to pay it in one lump sum.  For many people, more money is withheld from their paychecks than the taxes owed. This money is then returned to each person in the form of a tax refund check at the end of the year.

These tax refunds can be received in one of three ways: through a bank’s direct deposit process, by a paper check, or through a refund anticipation loan.  Direct deposits are very convenient and are generally deposited immediately after the tax return is reviewed. However, this method is unsuitable for those who want to avoid a bank’s holding period or for those who have no banking account.

Paper refund checks are usually mailed within three months after the tax forms are submitted to the IRS. Tax refund check cashing and refund anticipation loans can be accomplished at a check cashing service. These businesses instantly cash the refund check in return for small fee. They can also approve a refund anticipation loan (RAL), which is then converted into cash. It can be paid back when the tax refund check is received.

Those planning to make use of a Kansas City tax refund check cashing service should consider Waldo Financial, Kansas City’s leading check cashing service. They can cash refund checks and refund anticipation loan checks of any amount without a waiting period. Best of all, customers can call to receive a quote for check cashing rates over the phone.

Call Waldo Financial at  816-333-6800 for quotes, questions, or concerns about the tax refund check cashing process in Kansas City.

This check cashing article described federal income tax refund checks and the best tax refund check cashing location in Kansas City.

KEYWORDS: federal income tax refund check cashing kansas city

WEBSITE: https://www.waldofinancial.com

Tax Refund Check Cashing Alternatives to Banks In Kansas City

This income tax refund checking article describes how many people in Kansas City are cashing their checks without a bank and why.

If you are waiting for the arrival of a tax refund check, it can be disappointing – if not detrimental – to be unable to cash the check when you receive it. This commonly happens to many people who attempt to cash their tax refund checks at a bank. Banks are not required to cash tax refund checks and many times refuse to do so for those who are not account holders.

Why Banks May Refuse To Cash Your Tax Refund Check

Most banks offer check cashing services to their customers. However, many do not provide this service to those who are not account holders. If you do find a Kansas  City bank that offers refund check cashing, you may encounter a variety of stipulations. Identification is required at most banks for non-account holders, which you may not have.

If the tax refund check is for a large amount, bank policies may allow a suspicious teller to refuse to cash it.  The same thing may happen if a joint tax refund check is cashed by only one of the payees. In the case of estate refund checks made out to many recipients, the bank may refuse indefinitely, forcing you to request a check reissue from the IRS.

Alternative Tax Refund Check Cashing Services

Whatever the case is, you don’t have to wait if you don’t want to. There are tax refund check cashing businesses available in Kansas City that are an alternative to banks.  Businesses like these are becoming more common as banks continue to reduce available services to those who don’t have accounts.

Check cashing companies can also cash refund anticipation loan checks. They often offer other services, as well, such as payday loans and money transfers.  It should be noted that cashing a check at these businesses will include a fee of some sort. All reputable check cashing services will provide quotes upon request.

Waldo Financial, the leading refund check cashing service in Kansas City, cashes refund checks of all amounts and provides quotes over the phone. Call them at 816-333-6800 for pricing questions, the cashing process, or answers to other questions you may have.

This income tax refund checking article described why so many people in Kansas City are cashing their checks without a bank these days.

KEYWORDS: income tax refund check cashing kansas city

WEBSITE: https://www.waldofinancial.com

How to Cash a Joint Taxes Refund in Kansas City

This income tax refund article describes how to cash a joint tax refund check in Kansas City.

Both the state and federal governments issue income tax refund checks for the past year. If you have filed a joint return with your spouse, both your names will be on the tax refund check. In order to cash it once you receive it, you and your spouse will both have to sign the check to validate it.

Refund check cashing in Kansas City is easy and relatively quick. Couples have the choice of several venues in which to cash their refund check, including banks and check cashing outlets.

In the majority of cases, you will need to have a bank account to cash your tax refund check at a Kansas City bank. Some banks will, depending on their policies, cash refund checks for non-account holders. Both you and your spouse will need a social security card and a state-issued identification.

It is best to sign the tax refund check in the presence of the bank teller.  This helps to eliminate any suspicion, especially in thee case of large tax returns. Those couple who have a joint bank account may be able to deposit the tax refund into their account without having to sign it in the presence of a bank employee.

If you don’t have access to a bank account, shared or otherwise, or would simply like your cash immediately without the bank’s holding time, Kansas City has several tax refund check cashing businesses. These allow you to cash your refund check immediately with no hassle and a small fee.

Waldo Financial, as Kansas City’s leading check cashing service, has been providing these services and more since 1999. Like all reputable refund check cashing businesses, they offer quotes of their fees over the phone. They also provide other valuable cash services, such as payday loans.

Give them a call today at 816-333-6800 for any questions or concerns you might have about the tax refund check cashing process in Kansas City.

This income tax refund article described how to cash a joint tax refund check in Kansas City. Let Waldo Financial of Kansas City help you with your income tax refund check cashing.

KEYWORDS: income tax refund check cashing kansas city

WEBSITE: https://www.waldofinancial.com

Do You Need A Bank Account to Cash Your Taxes Refund in Kansas City?

This income tax refund check cashing articles describes whether or not you need a bank account when it comes to cashing your tax refund check in Kansas City.

A bank account provides many conveniences to its customers but, in today’s economy, not everyone has access to one. Even if you do not have a bank account, you can still find tax refund check cashing services in Kansas City.  While you may be charged fees and expenses that bank accounts do not require, check cashing businesses and other money services will be able to give you instant access to your tax refund.

Some Kansas City banks may allow you to cash your tax refund check, even if you do not have an account. However, since banks are not required to do so, it may be a long and unrewarding search for the one that does. Even then, the bank may require specific forms of identification that you may not have.

If you don’t have a bank account, you probably know someone who does. Asking a family member or friend to cash your tax refund check is an alternative means of obtaining your money. Your friend or family can cash the check or deposit it and give you the cash. All you need to do is endorse the refund check before turning it over. However, depending on the bank’s policies, this may not be permitted. In some cases, large tax returns cashed or deposited by someone other than the recipient causes suspicion and a banks won’t cash them.

Because of these restrictions, many people choose to cash their tax return check at check cashing service businesses.  Many areas in Kansas City have at least one check cashing business. They not only offer refund check cashing but other money services, such as payday loans, as well.  Some fees do apply, for which you can get quotes.

As you look at Kansas City check cashing services, choose a business that is reputable, generally one of those that has been in business for a long time. Waldo Financial is one of these, offering check cashing services since 1999.  Waldo Financial cashes all kinds of checks in any amount for reasonable fees. Give them a call at 816-333-6800  if you have any questions or concerns.

This article described tax refund check cashing services in the Kansas City area and whether or not you need a bank account when cashing your tax refund check.

KEYWORDS: income tax refund check cashing kansas city

WEBSITE: https://www.waldofinancial.com