{"id":243660,"date":"2019-09-19T10:06:59","date_gmt":"2019-09-19T09:06:59","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=243660"},"modified":"2026-05-11T05:16:52","modified_gmt":"2026-05-11T04:16:52","slug":"cheque-cashing","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/personal-loans\/cheque-cashing","title":{"rendered":"Cheque cashing"},"content":{"rendered":"

Warning:<\/strong> Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk<\/a>.<\/p>

Please note:<\/strong> High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.<\/p><\/div><\/article>

What is cheque cashing?<\/h3>

Cheque cashing is a quicker, alternative method on cashing in a cheque that doesn’t require you to go through your bank, and which can be done at any time. It can take up to 3 business days for a bank to clear your cheque, so you may be looking for a faster option. But dedicated cheque cashing services generally aren’t cheap. cheap. A number of banks allow you to cash in a cheque via an app<\/a> and the deposit may come through immediately<\/strong>. If you can’t afford to wait, you can use a cheque cashing service and get your money within minutes.<\/p>

In return for giving you access to your money immediately, the lender (because they are effectively lending you money) will charge you a percentage fee, which can often be quite high.<\/p><\/div><\/div><\/div>

How does cheque-cashing work?<\/h3>

When you go to cash a cheque at a bank, it needs to be cleared to ensure that it is valid. As the bank often needs to confirm this with another financial institution, it will generally take 3 business days for your check to be cleared and paid out.<\/p>

If you have a cheque that you need to clear as soon as possible, you can take it to a cheque cashing provider to bypass the normal waiting period and receive the amount in cash.<\/p>

Lenders that provide cheque cashing services are essentially forwarding the money with no guarantee that the cheque will be honoured, which might not happen if there are insufficient funds in the payer’s account. In return for taking this risk, cheque cashing providers will charge you a fee, which is usually a percentage of the cheque amount.<\/p><\/div><\/div><\/div>

Some banks may allow you to request a special clearance to have your cheque cashed on the same day, but this will generally also attract a fee.<\/p>

If you need to cash a cheque, it may be worth comparing a couple of different providers to see which can offer the best value. Because of the different fees and rates, you may find that, for example, cashing a cheque at Cash Converters may be cheaper than Cash Generator for certain sizes of cheque, but not for others.<\/p>

Options for cashing a cheque<\/h4>