Learn more about the process of cashing checks at Amscot. If you are looking for information on the rates of fees charged when cashing your valued check at one of the Amscot outlets near you, this article is for you.
We will also include the policies and hours when the cashing can be done.
Does Amscot Cash Checks?
Yes, Amscot does cash a variety of checks. In addition to personal checks, they also cash payroll checks, government checks, insurance settlement checks, and more.
For complete information and specific requirements for each type of check they cash, please visit their website.
Amscot Check Cashing Policy
At Amscot, you can cash all types of checks, for any amount and at any time. The checks accepted here include government checks, tax refund checks, paychecks, and personal checks.
Also, at Amscot you can cash money orders, traveler’s checks, cashier’s checks, and out-of-state checks.
To have your check accepted and processed at Amscot, you are expected to carry with you a valid identification document.
The acceptable identification documents include government-given photo identification documents namely a military card, driver’s license, and passport.
Further, your check will be rejected if it has been altered or the figures entered in words are different from that which is written in numbers.
Amscot Check Cashing Fees & Rates
In the cash advance industry, Amscot’s fees and rates are among the lowest. Amscot charges a service fee of 10 percent of the total amount advanced, plus a 2 US dollar state fee.
For instance, to receive a $400.00 cash advance, you must write a check for $442.00 for Amscot to keep until your next pay time, usually up to 31 days.
For government checks: from $ 1,000.00 to $ 1,499.99 you pay a fee of 1.9%, for checks above 1,500.00 you pay a fee of 2.9%.
For tax refund checks you pay a fee of 2.5%, while for cashiers and insurance checks that range from $1.00- $4,999.99 you pay a 3.9 % fee, and for those above $5,000.00 you pay a fee of 4.9%.
For more information about the Amscot rates and fees visit here.
Amscot Check Cashing Near Me
No matter your physical location, Amscot has got an efficient customer care team to assist you to locate the nearest Amscot check cashing. That is if you are not able to make use of their online website branch locator.
Using the online branch locator, you can find out about the nearest Amscot check cashing branch that is near you.
Not only that, but you will also have the chance to find more information about the rates and fees and the check cashing policies of your nearest branch, as well as the customer care team contacts.
Amscot Cash Advance – What is it?
Amscot cash advance is a financing option that allows you to have access to a small-dollar and short-term loan.
Once you are through with the short and brief application process, you can request up to $500.00 to cover emergency expenses.
To obtain a cash advance at Amscot, you are required to fill out the application form, and sign a cash advance contract, and the company shall load your personal check, up to the maximum limit and hold it up to a maximum of 31 days.
Individuals who are the beneficiaries of these small and short–term loans are always advised to honor their agreements and pay the check advances to avoid being penalized.
Amscot Cash Advance Without a Check – is it possible?
Is it possible to get an Amscot advance without a check? No, it is not possible to get an Amscot cash advance without a check.
A check is one of the mandatory requirements that an individual must have to be able to receive an Amscot cash advance.
The check acts as financial security in case an individual decides to default on the agreement or is unable to pay within the stipulated time.
In essence, with the check, Amscot can reclaim the money from your bank in case you fail to pay your cash advance on time and you have failed to communicate to the relevant Amscot agents.
Therefore, the check is an assurance that no matter what happens an individual will pay the cash advance, and hence, you will not get the cash advance without a check.
FAQs on Amscot Check Cashing
Indeed there are numerous frequently asked questions (FAQs) regarding Amscot check cashing. Some of the FAQs include:
#1 What type of checks does Amscot cash?
At Amscot you can cash several types of checks: government checks, personal checks, handwritten and computer payroll checks, cashier’s checks, and insurance checks.
Also, Amscot allows you to cash traveler’s checks, money orders, and international checks.
#2 What is needed for me to be able to cash my check at Amscot?
All you need to bring when you want to cash a check at Amscot is valid government-issued identification documents such as a passport, military identification card, or driver’s license.
#3 How much will I receive with a cash advance?
All Amscot clients are eligible for receiving a cash advance of up to %500.00.
#4 What should I do in the event I fail to pay my cash advance as scheduled?
In case you are completely unable to pay your cash advance on time, you are always advised to go for alternative arrangements of payment like the Grace Period or the Extended Payment Plan.
However, you are requested to visit any nearest Amscot branch to be guided further on this issue of failure to pay your advance on time.
#5 How does Amscot verify checks?
At Amscot branches there is a team of experts who help clients in establishing if their checks are valid or invalid.
Indeed, given the rising cases of fraudsters, you might be issued with a fake check even from a well-trusted and respected bank.
Therefore, when you bring your check, the team of experts with the help of the computers validate that the check is from a registered bank.
The team uses the internet to get the contacts of the bank and may make inquiries about the check.
The team also uses automated technology to detect unique numbers that are written from the back of your check. Each check has a unique code or number.
After doing all that, the Amscot agent will let you know if or not your check is genuine.
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