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How To Cash A Check At An ATM?
You can cash a check at an ATM. However, the process is not as straightforward as taking it to a bank.
Not all ATMs can cash checks. Some allow you to deposit a check, while others do not offer the service. If you find an ATM that cashes a check, you need the check, bank card, and pen to endorse the check.
With these at hand, you can follow the prompts on the screen to cash the check. You might have to have the funds available in your account before the ATM dispenses cash.
Can I Cash A Check At An ATM?
In the digital world of transfers and direct deposits, checks are still issued for different reasons. Irrespective of the type of check, it is important to know how to cash a check and get your money as fast as possible.
There are different ways of cashing a check, for example, at your bank, retail stores, or ATMs. Different banks have different ways to cash a check at an ATM. You can visit the ATM of your choice, especially an ATM of your bank.
Below are the common steps for cashing a check in most bank ATMs.
- Insert your debit card: After inserting your debit card, the ATM will prompt you to enter your PIN. Input your PIN to access the services offered by the bank through the ATM. Ensure you enter the correct PIN for the ATM to process the transactions.
- Choose deposit option: ATMs of most banks offer different services. For example, withdrawals and deposits. In the deposit option, there is the cash and check option. If you are depositing and cashing a check, select the check option.
- Insert the check: After selecting the check deposit option, the ATM will prompt you to insert your check. Once you are prompted, insert the check that you want to cash. Ensure you endorse the check by signing it on the back before putting it into the ATM. In most banks, you can also cash a cashier's check at an ATM.
- Make a withdrawal: Most banks do not allow you to access the total check amount. They allow you to withdraw a given proportion of the total check deposit. For example, if you deposit a check of $1,000, you can only access part, say, $200. The amount that you can cash immediately varies from bank to bank.
Sometimes, the bank may hold the funds for longer to verify the check and ensure it is legitimate. Usually, this takes place if the check is of a higher value than your normal deposits.
Things to Consider When Cashing a Check at an ATM
There are different things to consider when cashing a check at an ATM, including:
- Fees
Banks charge different fees when offering ATM check cashing services. The fees might sway your decision to cash your check at specific bank ATMs.
- Bank
Some bank ATMs do not offer check cashing services. The availability of a bank ATM that offers the services in your state or city increases the possibility of seeking the service.
For example, if a Capital One ATM that allows check cashing is located near you, there is an increased likelihood that you will cash your check on the bank’s ATM.
- Location
The location of bank ATMs plays a significant role in cashing a check at the ATM. A good location near you is more convenient and increases the possibility of cashing your check.
Bank | Estimated Number of ATMs |
|---|---|
Citi | 60,000 |
Chase
| 16,000 |
Bank Of America
| 16,000 |
Wells Fargo | 12,000 |
PNC Bank |
10,000 |
U.S. Bank | 5,000 |
- Duration And Ease
The time it takes to cash your check at an ATM near you determines whether you will cash it at that particular ATM.
Immediate access to funds will make the service more desirable. As much as the ease of check cashing is desirable, it can lead to a difficult cycle in some cases.
Because of the high fees, the cycle of cashing your check and paying the charges may be unsustainable for low-income earners.
Can You Cash a Third-Party Check at an ATM?
Yes, you can cash a third-party check at an ATM. However, you will need to have a bank account. This is because an individual cashing a check through the ATM has the same experience as cashing it at a bank.
The original payee of the check must endorse it. The payee endorses the check by signing at the back of the check and writing ‘pay to the order of’ and the name of the secondary payee.
Although you can cash a third-party check at an ATM, banks or credit unions are the best places to do so. It is important always to remember that not all financial institutions accept third-party checks.
Which Bank ATMs Allow Check Cashing?
Most ATMs allow checks cashing.
Some banks may allow individuals who are not their customers to deposit checks at ATMs, but others do not. Therefore, if you do not have a bank account, you can try other alternatives or visit banks that allow check cashing.
There are ATMs that cash checks in numerous locations in the country. Different national banks provide access to their ATM network 24/7. ATMs with check scanners are highly likely to allow immediate access to funds.
The following banks have ATMs that allow you to cash your checks.
- Wells Fargo
- Citibank
- Capital One
- Bank of America
- Chase
- TD Bank
- Citizens Bank
- US Bank
- M & T Bank
- Fifth Third Bank
What’s the Fastest Way to Cash a Check?
The fastest way to cash your check is by presenting it to the drawer’s bank.
The drawer or payer’s bank holds the funds, and you can get the funds instantly if the check is good and there are enough funds in the account to cover the check.
You can find the details of the drawer’s bank on the front of the check. Ensure you carry your identification documents and check to ensure it matches the payee’s name.
You might incur some charges to get cash checking services. In most cases, the fee is deducted from the cash you receive. The method is fast and safe because the bank can promptly verify the availability of funds in the drawer’s account.
How to Find Check Cashing ATM Near Me?
There are different ways of finding check cashing ATMs near you, including:
- ATM Locator: Most major bank ATMs allow check cashing, so you can use the ATM locator to find the banks’ ATMs near you.
- Locations Finder: Different banks have different location finders that you can use to find their ATMs near you. After identifying a bank that offers ATM check cashing services, you can use its location finder to locate the nearest ATMs.
For example, the Capital One Location Finder helps you locate an ATM and lists the services offered at the different ATMs.
The location finders can help you locate bank branches. There is a high likelihood that you will find check-cashing ATMs close to it.
Alternatives to ATM Check Cashing
Below are the alternative ways of check cashing other than using ATMs.
- Use check-cashing services: Check-cashing stores provide financial services and allow you to cash a check for a fee. The fees vary based on the company, check amount, type of check, and state.
- Retail stores: You can cash a check at different grocery chains and retailers. You are charged a fee that varies by retailer.
- Visit the issuing bank: Most banks cash checks are written by an accountholder at that bank. The payer’s account must have sufficient funds to cover the check. The bank will ask you to provide proof of identification before the bank cashes the check. The issuing banks charge a percentage of the check amount or a flat fee.
- Use a prepaid debit card: Instead of ATMs and other check cashing options, you can use prepaid cards. Prepaid cards have different options for cashing checks. For example, some prepaid cards come with apps that allow you to capture the image of the check to load it into the card.
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