What is the check?

The checking service service is a company that will earn a check for a fee. Banks also cash checks and some of them do without consumer costs, especially if it has an account in the bank or uses a direct deposit. Many people, especially those without bank accounts, use checks instead. These companies often double as short -term credit equipment and offer money before paying for a percentage of the check value. As with the Bank, the customer must still provide identification and the check service does not have to receive personal checks. Some companies offer a direct deposit where the money is loaded on a debit card and picked up in a check store. If a person does not earn much money, it can cost approximately the same for cash checks in this way every month, just as it would pay bank fees.

This is not usually the case and paycheck checks are usually higher than the bank fees. For example, the payment of a check of $ 1,500 (USD) can cause a fee of 3-5%. This is $ 45In fees for the lowest percentage and even 1% fee would be $ 15. Conversely, most banks charging a monthly service fee of about $ 10 to $ 15 per month. This means that most customers will lose money when using a check service.

Payout progress may make even higher fees and may result in significant loss of money. In fact, some customers get into the vicious cycle of money before payday and lose money every time they make progress. Such advances can significantly exceed the interest that a person could pay on a credit card.

, however, the cash register check is often quite comfortable and can provide some opportunities with the opportunity to quickly get cash to get it almost immediately. Many companies have longer hours than those observed by the banks and it is worthwhile to have immediate access to funds. In this case, the check service provides help and may BI can occasionally be used without much loss of income.

However, most financial experts propose to look for a bank that allows direct deposit free of charge. Even a small loss of income can be added over time and eventually show less beneficial than immediate access to money.