Cashing a check can be a real headache, especially when your bank won’t let you cash it or you don’t have a bank account available. That is why companies like Amscot offer the possibility of cashing checks in a simple way by making small installment payments.
This financial institution provides its users with the possibility of making different economic transactions in minutes. At the same time, it offers one of the lowest transaction fees in the market. It should be noted that this is just one of many companies that offer check cashing services.
What kind of check can I cash at Amscot?
Before knowing the fees that are usually charged, it is worth taking a look at some of Amscot’s services. Especially when it comes to check cashing, the possibilities are very broad compared to other companies offering the same service. Among the types of checks that you can redeem at Amscot are:
- Personal checks
- Computer and handwritten payroll checks
- Insurance checks
- Cashier’s checks
- Government checks
In the same way, among Amscot’s services, you have the possibility of cashing other types of monetary documents. Such as money orders, traveler’s checks, and out-of-state and international checks. So if you are planning to cash any of these, Amscot is one of your options.
How much money does Amscot charge to cash a check?
There are 2 factors that directly influence how much Amscot charges to cash a check, these factors are the amount and the type of check to be cashed. Therefore, when arranging for a check to be cashed, these measurements should be considered beforehand, or else you might risk disappointment when you see the cashing rates.
Amscot usually handles lower rates than those normally established by government agencies, offering its users changes to cash in minutes. Popularly known as The Money Superstore, it has been in the market since 1989, helping its customers with normally complex financial procedures.
Something worth clarifying is the fact that Amscot can facilitate other types of financial transactions that do not appear in the above list. This is by contacting them through their helpdesk which is available to customers 27/7. With a simple call, you have the possibility to answer your questions about any type of transaction.
| Computer Generated Local Payroll Check Cashing Rates | ||
| FROM | TO | FEE |
| $1.00 | $79.99 | $3.00 |
| $80.00 | $99.99 | $3.10 |
| $100.00 | $119.99 | $3.35 |
| $120.00 | $139.99 | $3.65 |
| $140.00 | $159.99 | $4.10 |
| $160.00 | $179.99 | $4.55 |
| $180.00 | $199.99 | $4.95 |
| $200.00 | $219.99 | $5.45 |
| $220.00 | $239.99 | $5.95 |
| $240.00 | $79.99 | $6.30 |
| $260.00 | $99.99 | $6.70 |
| $280.00 | $119.99 | $7.05 |
| $300.00 | $139.99 | $7.60 |
| $320.00 | $159.99 | $8.10 |
| $340.00 | $179.99 | $8.45 |
| $360.00 | $199.99 | $8.90 |
| $380.00 | $219.99 | $9.35 |
| $400.00 | $419.99 | $9.80 |
| $420.00 | $439.99 | $10.20 |
| $440.00 | $459.99 | $10.55 |
| $460.00 | $479.99 | $10.90 |
| $480.00 | $499.99 | $11.40 |
| $500.00 | $519.99 | $11.85 |
| $520.00 | $539.99 | $12.15 |
| $540.00 | $559.99 | $12.35 |
| $560.00 | $579.99 | $12.55 |
| $580.00 | $599.99 | $12.65 |
| $600.00 | $619.99 | $12.95 |
| $620.00 | $639.99 | $13.15 |
| $640.00 | $659.99 | $13.25 |
| $660.00 | $679.99 | $13.35 |
| $680.00 | $699.99 | $13.45 |
| $700.00 | $719.99 | $13.55 |
| $720.00 | $739.99 | $13.65 |
| $740.00 | $759.99 | $13.75 |
| $760.00 | $779.99 | $13.85 |
| $780.00 | $799.99 | $13.95 |
| $800.00 | $819.99 | $14.05 |
| $820.00 | $839.99 | $14.15 |
| $840.00 | $859.99 | $14.25 |
| $860.00 | $879.99 | $14.35 |
| $880.00 | $899.99 | $14.45 |
| $900.00 | $919.99 | $14.55 |
| $920.00 | $939.99 | $14.65 |
| $940.00 | $959.99 | $14.75 |
| $960.00 | $979.99 | $14.85 |
| $980.00 | $999.99 | $14.95 |
| $1000.00 | or higher | 2.0% |
How much money does Amscot charge to cash government checks?
In the case of government checks, the amount to be charged will vary depending on the amount of the check. With fees ranging from $3 to $10 or percentage equivalents depending on the amount, you want to cash.
These percentages can be 1.9% for checks between $1000 and $1499.99 or 2.9% for checks over this amount. So, if you are wondering how much money Amscot charges to cash a $5000 government check, the answer is 2.9% of that check, or $145.
How much money does Amscot charge to cash tax refund checks?
Another of the most common types of checks cashed at Amscot are tax refund checks. In this case, the company has a flat fee regardless of the amount, which is 2.5% of the check. This is a flat fee that will not see any changes regardless of the origin of the check.
How much money does Amscot charge to cash personal checks and money orders
The same policy applies to personal checks and money orders. There is also no fixed amount charged, but rather a percentage rate equivalent to what is charged on the check. This rate is 9.9% regardless of the amount.
It should be clarified that, in the case of personal checks, these must have a minimum amount of about $3. Likewise, as we have already said, you can always contact the Amscot team to solve any doubt or inconvenience.
How much money does Amscot charge to cash computer and handwritten payroll checks?
For payments, whether computer or handwritten, the ideology is very similar to that of government checks. With fixed rates that vary depending on the final amount of the check-up to $1000 when a percentage starts to be charged.
In this case, the percentage is 2% as long as the check exceeds $1000 in total value. So from an analytical perspective, it is up to you to make the decision whether to cash the check or not considering how much commission you have to pay.
How much money does Amscot charge to cash cashiers and insurance checks
In the case of cashiers and insurance checks, fees vary by a percentage depending on the final amount of the check. If the check does not exceed $4999.99, the fixed rate is 3.9% of the final amount of the check. On the other hand, if the check exceeds $5000, the amount to be charged will be the equivalent of 4.9% of the check.
References
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“Amscot Frequently Asked Questions.” Amscot – The Money Superstore ®, https://www.amscot.com/amscot-faq.aspx.
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“Check Cashing.” Amscot – The Money Superstore ®, https://www.amscot.com/check-cashing.aspx.
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“Check Cashing Rates.” Amscot, https://www.amscot.com/resources/check_cashing_rates.pdf.