If you haven’t used a cheque cashing service before you may be wondering why so many people use these services day in and day out. There are many reasons why a person may visit a cheque cashing store and we will outline them for you here. We will also let you know what the benefits are of using this type of service versus cashing cheques through a traditional banking institution.
Are Cheques Still Being Used?
In this day and age where digital payments have become commonplace, you may be thinking that not many people are still using cheques for payments. They actually still are. There are thousands of cheques being run through the cheque cashing systems at the banks on any given day. Major corporations are still using cheques to pay employees when a direct deposit isn’t available. The person next door that needs his grass mowed may prefer to pay you with a cheque instead of cash.
The Benefits of Using a Service for Cheque Cashing
Here are some of the top benefits of using a cheque cashing service and the reasons why people are choosing to cash their cheques at facilities that offer this type of service.
Get Your Money on the Spot
At a traditional bank or financial institution you usually have to wait at least 5 business days for the cheque to clear before you can receive your funds. There are a lot of people that are living from paycheque to paycheque these days and need instant access to their money. Waiting for the funds to clear just isn’t an option for many individuals.
When you want to get your money on the spot, you can do it with cheque cashing services. You won’t have to wait for days for the money to clear and you’ll walk out with instant cash in your pocket. You have worked hard for your money and don’t deserve to have to wait to get it. When money is required to pay a bill, pay the rent or to buy necessities or even a luxury item, you may need to get that money immediately.
You Don’t Need to Have a Bank Chequing Account
The costs and fees associated with having a bank chequing account continue to grow year after year. If you take a look at how much you have to pay monthly to keep this type of account and then multiply this fee by 12, you’ll see how much you are paying each year to keep the account open. If you are cashing a large volume of cheques, it may be worth the amount you’re paying. If, on the other hand, you are only cashing a small amount of cheques, you would often be better off using cheque cashing services instead. As an added benefit, the cheque will be cashed right away for you.
Easy to Find
Many banks are shutting down their smaller branches in an effort to save money. This has been especially true during the pandemic when many branches closed their doors during the lockdown. Cheque cashing service facilities, however, remained open for your convenience. They are easy to find and the odds are good that you’ll be able to visit one that is close to your home or your place of employment.
When you don’t have easy access to a bank and don’t want to have your funds held, think of cheque cashing services as a viable alternative.
Stores that offer cheque cashing services must display any associated fees clearly and operate with transparent policies. This is not the same case for banking institutions since penalties and fees are often hidden in their advertisements. You’ll need to look for the fine print in order to see exactly what the policies are for your chequing account.
Most people don’t know how much they would have to pay for a bounced cheque, overdraft fees, insufficient funds etc. A person can easily pay more in penalty fees when they have a bank chequing account than they would if they were using a cheque cashing Brampton service instead.
Personal Cheque Cashing Services
Stop being treated like a number at a bank and enjoy a personalized service that has been designed with you in mind. At Money Direct we are dedicated to serving the community with the best possible services available. When you want a different, more personalized service than what you would find in a traditional banking institution, think of our cheque-cashing services first.
One-Stop Financial Services
We also offer a wide range of other financial services for your convenience. Our services include:
- Cheque cashing
- Cash for gold
- Payday loans
- Bill payments
- Prepaid cards
- Money transfers
Our cash for gold program allows you to bring in your unwanted and unused gold jewelry and convert it into instant cash on the spot. Many people have gold pieces that they don’t want and this is a great way to get fast cash when you need it the most. Our payday loans program allows you to take out an instant short-term loan that can be repaid when you receive your next paycheque. There is no need to have a good credit history to qualify for this loan. You just need to prove that you can pay it back by showing us that you are employed and receive a regular paycheque.
If you need to make bill payments we can do that for you too and we also offer prepaid cards that you can use to make purchases. You determine how much money you want to put on the card and then you can start shopping using the card either on the Internet or in person at a shop. Prepaid cards are accepted in the same way as credit cards are.
We are a one-stop shop for all your financial needs. Visit our website now at moneydirectstore.ca to find the closest location to you. You can also browse through our list of services and look for helpful financial advice on our blog.