How to Cash a Cheque Without a Bank Account in Canada

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Cashing a cheque can be as simple as bringing it to a bank and giving it to the teller, but in some situations, people prefer not to do it through a banking institution. Fortunately, people who are unbanked do have options to cash a cheque without a bank account in Canada.

For more than 20 years, Speedy Cash has been like a helpful friend who lends you money when you need it. We make it easy for people to borrow money quickly. We do this by giving payday loans (a type of short-term loan) and lending money online. Our main job is to help our customers get the money they need, making their lives easier and stress-free.

How Do You Cash Your Cheque?

Cheque cashing through a bank in Canada is straightforward:

Step 1. Visit a nearby bank branch.

You can bring your cheque to a local bank branch. Most Canadian banks allow individuals to cash cheques, even without an account, depending on the cheque type and verification.

Step 2. Bring your cheque and two pieces of valid ID.

You’ll need to present the cheque and two valid pieces of government-issued ID. At least one must include a photo, such as a driver’s licence or passport, to confirm your identity.

Step 3. Get your money.

After verifying your information and cheque details, the teller will process your request. If approved, the bank will provide your funds, either in cash or as a deposit, depending on the bank’s policies.

What Kind of Cheques Can You Cash?

Canadian banks generally accept the following types of cheques:

• Paycheques

Most banks accept paycheques, which can be cashed on the spot or deposited, even without a bank account in certain cases.

• Insurance Cheques

If something unfortunate happens, like a car accident or a house fire, insurance companies will often give you an insurance cheque.

• Government Cheques

Banks accept government-issued cheques, such as those for pensions, child benefits, or employment insurance. Some may offer this service with minimal or no fees.

• Tax Return Cheques

When you’ve paid more taxes throughout the year than what you actually owe according to your annual income tax return, you will receive a refund cheque from the government.

*Take note that if you want to cash anything issued by the Government of Canada, you must provide two forms of valid identification. One of these IDs should include both your picture and signature. A primary ID could be your driver’s licence, provincial photo card, or passport.

Other forms of identification can include:

Birth certificate issued anywhere in Canada, Social Insurance Number, Old Age Security Card, Certificate of Indian Status, provincial or territorial health services card, Certificate of Canadian Citizenship or Certificate of Naturalization, Permanent Resident Card or Immigration and Refugees and Citizenship Canada (IRCC) form.

Avoid signing the cheque before arriving at the bank. It’s also advisable to cash or deposit your cheque within seven days of receipt, as cheques older than 30 days may be declined.

What Are the Fees?

Fees for cheque cashing may vary depending on the bank and whether you hold an account. Some banks may charge a small fee if you’re not a customer. Government-issued cheques may be exempt from fees under federal consumer protection rules. Contact your local bank for specific fee details applicable in your province.

Benefits of using Speedy Cash

• Quick Money

If you need money fast, Speedy Cash can help. We can provide you with money quickly when you need it.

• No Credit Checks

Don’t worry if you’ve had trouble with money before, resulting in a bruised credit score. We don’t do any credit checks.

• Convenient Locations

Speedy Cash has stores all across Canada, so it’s easy to find one near you.

• Simple Process

Whether it’s getting a payday loan or accessing another service, Speedy Cash makes these processes easy and understandable.

• Community Support

Speedy Cash isn’t just about business. We also believe in helping in the community.

• Competitive Rates

We keep our fees as low as possible, which is good for your pocket.

Experience convenience like never before with Speedy Cash! Say goodbye to the hassle. Visit us today and enjoy a smooth, swift, and stress-free process.