Wells Fargo Bank, like most financial institutions, offers to check cashing services. To provide the service to customers and non-customers who are in that need.
Although many doubts may arise about whether the company cashes checks only from its account or whether it can also cash checks from other banks, this article will explain everything important about cashing checks through Wells Fargo.
Can I cash checks from other banks at Wells Fargo?
The answer is yes because the U.S. bank offers a personalized check cashing service. It doesn’t matter if another bank issues them; you only need to go to one of its branches.
But it is important to point out that the only option in which the company will allow you to cash the check is because the holder who issued it has an account at Wells Fargo. Otherwise, it will not do so.
In other words, if you issued the check from Bank of America, but the person who issued it does not have a Wells Fargo account, you will not be able to cash it. But it is not bad to die since many retailers cash any check.
If you have an account within the banking institution, you will not cash the check for free. If it is a personal check, the company charges a fee of $7.50; on the other hand, if it is a business check, it will depend on the amount of money.
How long does it take to get the money from the check?
Wells Fargo will guarantee to give you a percentage of less than 50% of the total amount of the check within two days after the request has been acted upon. Then it can take up to 7 business days after the request has been made.
For example, if you cash a check for one hundred dollars on Monday, you will receive approximately $30 on Wednesday. Then next Monday, you will receive the remaining $70 owed.
The reason is that the company does not usually possess all the money in your check by chance when you arrive to pick it up. It is essential to wait until you receive all the money.
What do I need to cash a check at this bank?
According to U.S. laws, which directly affect banking institutions such as Wells Fargo, any withdrawal must carry two pieces of identification.
The first is valuable and issued by the government or a recognized government entity, such as a driver’s license or passport. Any document that meets these characteristics and has a photo of you attached to it is valid.
On the other hand, the second ID does not need to have a photo of you, but the name on the first and second ID must match. You cannot show one where the first says “Frank Brown” and the second says “Zack Brown”.
The secondary ID does not have to be government issued; it can be made by a recognized institution, such as a company or insurance company. It must also have a traceable number so that it can be verified.
Will I be charged a fee for cashing a Wells Fargo check at the same institution?
No, the institution will not charge you a fee to cash a check it owns. The best thing is that you can perform the procedure by going to any of their locations, and it will be quickly processed.
Most importantly, it is important to keep in mind that whether it is from Wells Fargo or not, the same rules will always apply. You also have to bring both IDs, wait until the regulatory time and consult everything with the company’s operator.