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Why does HSBC charge check cashing fees for checks drawn on their bank?
Wiki User
∙ 12y ago
They charge non-customers a fee of up to $5 for cashing their paycheck, even when the payroll account is located in the same branch you are cashing the check in.
They do this because it is a source of income for them and it is not illegal. There is no one to stop them from charging this fee.
Since you are a non-customer, they do not care about you. If you don't want to pay the fee, then you will have to cash your check elsewhere.
To avoid the fee, they want you to become a customer, but this is a trap, since once you are a customer, you will be subject to even more fees. Also they will hold onto your money and pay you (literally) .01% interest while they charge dozens of times that interest rate when they lend your money out to other customers.
Wiki User
∙ 12y ago
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If you have a check made out to you drawn upon that branch can they charge you a fee?
If you cash a check at the bank where the account is, then it's not common to be charged a fee for cashing it. Most banks do not charge you for cashing local cheques (cheques issued in the same city even if it is a different bank) It also depends on the type of account you hold and the place from where the cheque was issued to you.
What is inward check collection?
Inward clearing means the checks drawn by the bank from the other banks. These checks are drawn by the bank/branch customers on their account in favor of other parties.
Where can you cash a personal money order check?
You can cash a money order at:Your own bank, if your account history (overdrafts, returned checks, average balance) and current balance meet your bank's check cashing requirements.The bank on which the money order is drawn, if any. This would be on the face of the check. For example, it might say "Wells Fargo, N.A." or "Suntrust." You may be charged a fee if you do not hold an account at this bank.A check cashing service, where you will be charged either a flat fee or a percentage of the amount of the money order. Amscot and large chains like WalMart as well as some grocery stores (Publix, for example) offer check cashing services.The post office, if the money order is a U.S. Postal Money Order.
Can an old check be cashed?
Maybe. It depends on multiple factors. Are you taking it to the bank that is it drawn off or are you cashing it off your own account at a different bank? If you are using your own bank they will use their own policy and discretion when handling the item based on your standing with them. Remember, a check isn't considered "stale dated" until 6 or more months after issuance.
How do you cash a check when your bank is out of state?
Generally in order to cash a random check (i.e. not a payroll or government check) you must either cash it at a bank where you have an account or at the bank it's drawn on. With payroll and government checks you have more options, as lots of places are willing to cash those even for non-customers for a small fee.
Can a casino main cage cash checks?
If you mean "checks" as in a paper check drawn from a bank account, it is each individual casino that sets the guidelines for check cashing. Most require that you set up a check cashing account. If you mean "checks" as in playing chips, yes, as long as they are from their own casino.
If you have a check made out to you drawn upon that branch can they charge you a fee?
If you cash a check at the bank where the account is, then it's not common to be charged a fee for cashing it. Most banks do not charge you for cashing local cheques (cheques issued in the same city even if it is a different bank) It also depends on the type of account you hold and the place from where the cheque was issued to you.
Collect on checks that are drawn on a closed accounts?
To collect on checks that are drawn on a closed account, you have to take the check-writer to small claims court and get a judgment. The check is considered a contract.
Where can one get checks cashed for cheap or free?
Generally someone can cash a check for cheap or free at your local bank. If the check is drawn off of that bank then there is many times no fee. You may also check with your local grocery store, a nearby casino, or at one of many check cashing store such as MoneyTree.
Can you change a check in to money?
Yes, a check is a bank draft drawn on an account. Provided the account has funds and is payable to you, it can be cashed at your bank or any check cashing place or if you go to the bank it was drawn on with ID, they will cash it for you.
Can an employer make you cash your check at the bank one week and then at the store you work at the next?
Unless you have signed some strange agreement (which even then would seem shaky at best), an employer cannot force you to do anything with your check- including cashing it at all, or enforcing where you choose to cash it. However, if you do not deposit your checks into a checking or savings account, and instead cash them weekly, it may be beneficial to cash them at the bank which the check is drawn on- you will be able to find this information on the check itself- as it may result in less, or no, cashing fee (if you normally pay at a check-cashing service, or cash them at your own bank and it is not the same bank as the employer's).
What is inward check collection?
Inward clearing means the checks drawn by the bank from the other banks. These checks are drawn by the bank/branch customers on their account in favor of other parties.
What is involved in the process of personal check cashing?
To cash a personal check drawn off your banking institution you will need to have a valid drivers license. You will need to to endorse the back of the check. Funds will be verified and your check will be cashed.
What is the purpose of cashier check?
Cashier checks are also called bank checks, banker's checks, official checks, demand drafts. They are checks guaranteed by a bank, drawn on a bank's own funds, and signed by a cashier.
What percentage of your check does Ace Cash Express take when they cash it?
Exhaust all other opitions first, as ACE is expensive. You might be able to cash that check at the bank it's drawn on, for instance, or at Wal-Mart. But sometimes you're stuck - it happens. At ACE, fees depend on the check. It's about 3% for payroll and government checks; 5% for other non-personal checks; 10% for personal checks. On large checks this can get extremely expensive as there is no limit. On a $3,000 personal check, for instance, ACE will take $300 for the privilege of cashing it. But on the other hand, if the option didn't exist then you'd be stuck with a worthless piece of paper. Sometimes you just have to swallow hard and pay the piper.
What is DAUD checks?
checks "drawn against uncollected deposits"
Where can you cash a personal money order check?
You can cash a money order at:Your own bank, if your account history (overdrafts, returned checks, average balance) and current balance meet your bank's check cashing requirements.The bank on which the money order is drawn, if any. This would be on the face of the check. For example, it might say "Wells Fargo, N.A." or "Suntrust." You may be charged a fee if you do not hold an account at this bank.A check cashing service, where you will be charged either a flat fee or a percentage of the amount of the money order. Amscot and large chains like WalMart as well as some grocery stores (Publix, for example) offer check cashing services.The post office, if the money order is a U.S. Postal Money Order.
