Frequently Asked Questions (FAQ's)
What is Cheque Cashing?
Cheque encashment is a service we provide to customers who do not have access to or would prefer not to use conventional bank accounts. It enables them to obtain cash from virtually any cheque that has been issued to them, including cheques that have been crossed account payee or non negotiable.
A commission is charged for this service and is deducted from the amout paid to the customer. It is an attractive service, not only for the unbanked but also people who have tight financial cycles and cannot afford to wait the lengthy clearance periods associated with conventional bank and especially some building society accounts.
How does it work?
The customer brings their cheque into the office, if it is a first time visit proof of identification and address is required, however, for subsequent visits the customer need only provide their cheque and VIP card. The cheque will be examined and processed by our trained staff who will make enquiries as appropriate.
In most cases the entire amount of the cheque will be cashed although
occasionally if the amount is high (over £1000) or if the issuer of the cheque is not of sufficient financial standing then a portion of the value may be cashed and the balance paid when the cheque has cleared. In practice over 80% of cheques can be cashed entirely and because we are an independant cheque casher and can make decisions on the premises we generally pay out within a couple of minutes.
Who uses a cheque cashing service ?
An average customer will present a wages or salary cheque for about £300 on a Friday evening because he doesn’t want to wait until next week or longer to get his cash. The fee he will pay will be a little higher than the charge for a special clearance through his conventional bank account and he would still have to wait a few days to get his cash anyway. It is therefore a very convenient and cost effective means of obtaining the cash value of a cheque.
Other customers include people who do not have a bank account. We can cash cheques issued by Insurance Companies, Solicitors and Accountants, Government Departments such as Housing, Unemployment, Child Benifit and Income Support and cheques from the National Lottery; the list is endless. There are very few cheques that we cannot process and the service itself is an important, cost effective and fast alternative for those who choose to use it.
Call now for your personalised Cheque Casher Card
( proof of identity and address is required)
01604 660079
Cheques 2 Cash, 20, Southampton Road, Northampton NN4 8EA
Cheques 2 Cash - the premier cheque cashing service, Instant Cash, Low Commission Rates, Confidential Service.
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