How Does Speedy Cash Verify Checks

 

 

If you have a check that you need to cash, you might be wondering how does Speedy Cash verify checks. Speedy Cash is a financial services company that offers check cashing, payday loans, title loans, and other services. You can visit any of their stores and cash your check in minutes, without the hassle of holds, fees, or bank accounts.

Will give answer to the question How Does Speedy Cash Verify Checks, asloi will explain what types of checks they accept, what are the fees and rates, and what are the benefits and drawbacks of using Speedy Cash. I will also answer some frequently asked questions and give you some tips and warnings to help you make the best use of Speedy Cash.

How Speedy Cash Verifies Checks

Speedy Cash verifies checks using a simple and streamlined process. Here are the steps to follow:

  • Visit a Speedy Cash store near you. You can find the nearest store by calling 1-866-91-MONEY or using the online store locator.
  • Provide a valid ID. You will need to show a government issued photo ID, such as a driver’s license, passport, or state ID card. You may also need to provide your Social Security number or other information to verify your identity.
  • Provide the check. You will need to hand over the check that you want to cash. Speedy Cash will verify the check, the issuer, and the amount. They will also check if the check is valid, not expired, not altered, and not fraudulent.
  • Get cash. If the check is verified, Speedy Cash will give you cash on the spot. You don’t have to wait for the funds to clear or deposit the check into a bank account. You can also choose to receive your cash in the form of a prepaid debit card or a money order.

That’s it! You can cash your check in minutes with Speedy Cash, without any hassle or delay.

What Types of Checks Speedy Cash Accepts

Speedy Cash accepts a wide variety of checks, including:

  • Payroll checks
  • Government checks
  • Tax refund checks
  • Stimulus checks
  • Insurance checks
  • Money orders
  • Cashier’s checks
  • Personal checks
  • And more!

Speedy Cash can cash any type of check, as long as it is valid, not expired, not altered, and not fraudulent. However, Speedy Cash may refuse to cash certain checks at their discretion, depending on the amount, the issuer, or other factors.

What Are the Fees and Rates for Speedy Cash Check Cashing

Speedy Cash charges a competitive fee for check cashing, depending on the type and amount of the check. The fee is usually a percentage of the check amount, ranging from 2% to 2.5% for payroll and government checks. The minimum fee is $2.

For example, if you want to cash a payroll check of $500, Speedy Cash will charge you a fee of $10 (2% of $500). If you want to cash a government check of $1,000, Speedy Cash will charge you a fee of $25 (2.5% of $1,000).

The fee for personal checks and other types of checks may vary, depending on the store location and the check issuer. You can ask the store associate for the exact fee before you cash your check.

What Are the Benefits and Drawbacks of Using Speedy Cash Check Cashing

Speedy Cash check cashing has some benefits and drawbacks that you should consider before using their service. Here are some of them:

Benefits

  • Fast and convenient. You can cash your check in minutes, without the hassle of holds, fees, or bank accounts. You can also visit Speedy Cash stores during evenings and weekends, unlike traditional banks.
  • No credit check. You don’t need a credit check, a bank account, or any paperwork to cash your check with Speedy Cash. You just need a valid ID and the check itself.
  • Competitive rates. Speedy Cash charges a fair fee for check cashing, compared to other local check cashing services. You can also save money on bank fees, overdraft fees, or bounced check fees.
  • Other services. Speedy Cash also offers other financial services, such as payday loans, title loans, installment loans, prepaid debit cards, money transfers, and more. You can access these services with your Speedy Cash account, which is free to open and use.

Drawbacks

  • High fees. Speedy Cash charges a high fee for check cashing, compared to depositing your check into a bank account. You may lose a significant amount of money from your check, especially if it is a large amount or a personal check.
  • Limited locations. Speedy Cash has over 200 stores in 14 states, but it may not be available in your area. You may have to travel a long distance to find a Speedy Cash store near you.
  • Security risks. Cashing your check with Speedy Cash may expose you to security risks, such as identity theft, fraud, or robbery. You may also have to carry a large amount of cash with you, which can be dangerous or inconvenient.

Frequently Asked Questions

Here are some common questions and answers about Speedy Cash check cashing:

  • Can I cash my check online with Speedy Cash? No, you cannot cash your check online with Speedy Cash. You have to visit a Speedy Cash store in person to cash your check. However, you can apply for a payday loan or an installment loan online with Speedy Cash, if you need more money.
  • Can I cash a check that is not in my name with Speedy Cash? No, you cannot cash a check that is not in your name with Speedy Cash. You can only cash a check that is made out to you, or to you and another person. You may also need to provide a proof of address, such as a utility bill or a lease agreement, to cash your check.
  • Can I cash a check that is expired or postdated with Speedy Cash? No, you cannot cash a check that is expired or postdated with Speedy Cash. You can only cash a check that is valid and current. An expired check is a check that is older than six months, and a postdated check is a check that is dated for a future date.

Tips and Warnings

Here are some tips and warnings to help you make the best use of Speedy Cash check cashing:

  • Only cash your check with Speedy Cash if you need cash fast and have no other options. Speedy Cash check cashing may seem like an easy and convenient way to get cash, but it is not the best option for your financial health. You may lose a lot of money from your check, and you may face security risks. You should only use Speedy Cash check cashing if you need cash fast and have no other options, such as a bank account, a credit card, or a friend or family member.
  • Compare other check cashing services before using Speedy Cash. Speedy Cash may not be the cheapest or the best check cashing service in your area. You may be able to find a lower fee or a better service from other check cashing providers, such as Walmart, Kroger, or ACE Cash Express. You should compare the fees, rates, and terms of different check cashing services before using Speedy Cash.
  • Keep track of your check and receipt. You should keep track of your check and receipt when you cash your check with Speedy Cash. You may need them as a proof of payment, or in case of any issues or disputes. You should also keep your check and receipt in a safe and secure place, and shred them when you no longer need them.

Conclusion

Speedy Cash verifies checks using a simple and streamlined process. You can visit any of their stores and cash your check in minutes, without the hassle of holds, fees, or bank accounts. Speedy Cash accepts a wide variety of checks, including payroll, government, tax refund, stimulus, and personal checks. Speedy Cash charges a competitive fee for check cashing, depending on the type and amount of the check.

Speedy Cash check cashing has some benefits and drawbacks that you should consider before using their service. Speedy Cash check cashing is fast and convenient, but it also costs a lot of money and exposes you to security risks. You should only use Speedy Cash check cashing if you need cash fast and have no other options, and you should compare other check cashing services before using Speedy Cash.