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If you have a Wells Fargo account, you can usually cash checks at your nearby branch without paying any extra charges. However, the specific rules might differ depending on the branch you visit.
For those who don’t have an account with Wells Fargo, there’s a limit of $2,500 for cashing checks, and if the check is more than $100, there’s a fee of $7.50. In either case, whether you’re an account holder or not, you’ll need to show a valid ID to cash a check.
Wells Fargo check cashing policies
Wells Fargo allows check cashing for both account holders and non-account holders at their 8,500+ locations globally. Even if you don’t have an account with the bank, you can cash checks there. However, there might be some specific rules or variations in policies depending on whether you have an account with them or not.
Account holders
If you have an account with Wells Fargo, you can cash various types of checks at any branch. Just bring the check and a valid government-issued ID (like a driver’s license or passport). When you’re there, endorse the check by signing the back and showing your ID to the teller.
However, if the check isn’t from Wells Fargo, they might ask you to deposit it instead of giving you cash. This could happen if there might not be enough money in your account to cover the check or if the teller finds the check suspicious. There’s no fixed rule for what makes a check seem suspicious—it’s up to the teller to decide based on the situation.
Fees and limits
Here’s a more detailed breakdown of how check cashing works at Wells Fargo in terms of fees and limits:
- Fee Information: Wells Fargo doesn’t charge account holders any fees for cashing checks.
- Limits: Each branch sets its own limits for check cashing based on the cash available. These limits vary from branch to branch.
- Checking Account Balance Limit: The amount you can cash might also be limited by the balance in your checking account. This helps the bank secure funds if the check is not valid and bounces.
- Cash Availability at Branches: Some branches might keep less cash on hand, leading them to set lower limits for check cashing.
- Contacting the Branch: To find out the specific check cashing limit for a particular Wells Fargo branch, you can directly contact that branch.
Overall, this section outlines that there’s no fee for check cashing, but the amount you can cash depends on the policies of the specific branch, its cash availability, and potentially your checking account balance.
Mobile Deposit
With Wells Fargo’s mobile deposit feature, as an account holder, you can conveniently use the bank’s mobile app to deposit checks directly from your phone. All you need to do is capture pictures of the front and back of the check using the app.
To ensure a smooth deposit, remember to write “For Mobile Deposit at Wells Fargo Bank Only” beneath your endorsement signature. This service accepts checks from any U.S. bank, as long as they are payable in U.S. currency. However, it’s important to note that U.S. savings bonds, postal money orders, remotely created checks, and convenience checks cannot be deposited through the mobile app.
Non-account holders
For individuals who do not have an account with Wells Fargo, the check cashing policy permits them to cash only checks issued from a Wells Fargo account. To complete the transaction, non-account holders must present a government-issued photo ID.
Additionally, a secondary form of identification, such as a credit or debit card displaying the individual’s name, may be requested as part of the check cashing process at Wells Fargo.
Fees and limits
For people who don’t have accounts at a specific bank, there might be fees involved when cashing a check. If the check is under $100, there won’t be any fee. However, for checks above $100, Wells Fargo charges a $7.50 fee for non-account holders.
Additionally, there’s a limit on the amount of the check that non-account holders can cash, which is set at $2,500. It’s important to note that individual branches can choose to set lower limits at their discretion.
If you find yourself needing to cash a check but you don’t have an account at any bank, there are other banks that provide check-cashing services even if you don’t have an account with them.
Most affordable check-cashing options
If you’ve got a Wells Fargo payroll check and want to cash it affordably, here are some good options besides your own bank:
- Kmart: They offer the lowest fees and might even cash your check for free in certain states. Generally, you’ll pay about $1 or less.
- Walmart: They’re a popular choice for check cashing. For Wells Fargo checks, they’ll verify it to ensure the funds and your identity. Fees are $4 for checks valued at $1,000 or below and $8 for checks between $1,000 and $5,000.
- Grocery Stores like Kroger: If you’re a cardholder at places like Kroger, cashing your Wells Fargo check follows similar rates to other payroll checks. Expect around $3 for amounts up to $2,000, and up to $5.50 for checks between $2,000 and $5,000.
Banks and Credit unions
If you frequently receive Wells Fargo checks and are considering cashing them, it’s advisable to explore alternative options beyond Wells Fargo, especially if you don’t have an account with them. Many major banks, including Wells Fargo, often limit check-cashing services to their account holders exclusively. Corporate banks, in particular, tend to have policies against cashing checks for non-account holders.
For a more viable and potentially cost-effective solution, consider local banks or credit unions, particularly if you reside in a smaller community. These institutions may undertake Wells Fargo check verification procedures, typically requiring a matching photo ID. Though there might be associated fees, relying on these smaller financial entities could be a convenient and ongoing option.
Alternatively, you could opt for check-cashing outlets for Wells Fargo or Bank of America checks, but exercise caution and compare fees beforehand. Some outlets charge exorbitant fees, reaching as high as 12 percent of the check’s value in certain states. If you’re in an area with fee regulations, you might be able to secure a more reasonable deal compared to other options.