How exciting is it to finally get your federal tax refund check in the mail? After waiting weeks to get your refund, now it’s time to figure out what you’ll do with your money.
What if you don’t want to wait a few days for the check to clear your bank account or need access to your funds right away? There are several ways to cash your tax refund check when you want your money now. Read on to find out where you can cash your tax refund check.
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Do I need a bank account to cash my tax refund check?
You don’t need to have a bank account to cash your tax refund check. Since your refund check from the IRS is backed by the United States Treasury, it may be easier to cash your check at a bank, credit union, retail store, or through an ATM than if you were attempting to cash a personal check.
Do I need an ID to cash my tax refund check?
Regardless of where you cash your tax refund check, you should expect to show identification. A valid ID may include a state-issued photo driver’s license or identification card, an unexpired passport, or a permanent resident card. In some cases, you may be able to provide a birth certificate and proof of your social security number if you don’t have a valid picture ID.
5 places to cash your tax refund check
When you get your tax refund check in the mail, you want your funds as quickly as possible. Below are five places to cash your federal tax refund check.
Bank or credit union
Cashing your tax refund check at the bank or credit union where you have an account is usually the easiest option. Many banks and credit unions will cash a check for free if you have an account with them.
Banks and credit unions set their own policies when cashing checks for non-customers. While a bank or credit union may be unwilling to cash a personal check if you aren’t an account holder, they may accept your federal tax refund check since it is backed by the government. Banks and credit unions typically charge a fee if you don’t have an account with them and may limit the amount they are willing to cash.
You may be able to cash your federal tax refund through an ATM. However, you need to be an account holder at the bank. If the ATM offers such a service, you could deposit your check and immediately withdraw the money if you have sufficient funds in your bank account.
Check cashing services
If you don’t have a bank account or want access to cash immediately, you can take your federal tax refund to a check cashing store. You will need to bring valid identification with you. Some stores may require you to set up an account in their system, which can make cashing checks easier in the future.
Most check cashing stores don’t show their fee structure online, so you’ll need to call or visit the location to find out what you’ll be charged. However, check cashing stores typically charge fees based on a percentage of the check, this can be an expensive option. You can hold onto more of your money if you can cash a check somewhere else.
Large retail stores
Some large retailers and grocery stores will cash tax refund checks. To cash a check at these stores, you may be required to sign up for a free account. You must provide valid identification and most stores charge a fee for their check cashing services.
Walmart cashes most pre-printed checks including your federal tax refund. You don’t need to have an account and you can cash checks of up to $7,500 between January and April and $5,000 for the remaining months of the year.
Fees range from $4 for checks up to $1,000 and $8 for checks up to $5,000. Check cashing services are not available in every state, so it’s a good idea to check with your local Walmart to see if they offer this service.
KMart will cash your federal tax refund check of up to $2,000 for a fee of up to $1. In some states, such as Georgia or New Jersey, you pay no fees to cash your refund check.
You can also cash checks at your local grocery store. As long as you know your social security number and bring valid identification, you can cash your tax refund check at over 2,000 Kroger stores. Depending on the amount of the check, fees start between $3 and $5.50 with your Shopper’s Card. Publix offers check cashing services in their customer service department, but you’ll need to check with your local store on required identification, check limits, and fees.
Prepaid debit card
Instead of cashing your tax refund, you may be able to load your funds onto a prepaid debit card. With 7-Eleven’s Transact Prepaid Mastercard, you can deposit your tax refund check through the app using the camera on your smartphone.
Likewise, if you are an account holder with a bank or credit union, you may be able to access your funds immediately through your debit card if you have the ability to deposit your check through their app.
Access Your Federal Tax Refund Quickly
When you finally get your tax refund, you may not want to wait for the check to clear before you can use your money. There are plenty of options to cash your federal tax refund check when you want your money now. There is no need to worry if you don’t have a bank account. As long as you bring the check and have valid identification, you can still find ways to cash your federal tax refund check.
Where can I cash my tax refund without a bank account?
Even if you aren’t an account holder, some banks and credit unions will cash your federal tax refund. If you don’t have a bank account, you may also cash your federal tax refund at major retailers, grocery stores, and check cashing stores.
Will Walmart cash my tax refund check?
Walmart cashes tax refund checks of up to $7,500 between the months of January and April and $5,000 for the rest of the year. Check with your local store to see if they cash checks, as not every Walmart offers this service.
Can you cash a tax refund check at an ATM?
While it may be possible to cash a tax refund check at an ATM, the more common approach is to deposit your federal refund check through the ATM and then withdraw the cash from your account.