Cheque Cashing - whos the cheapest

Don't think there's a straightforward answer to that. Their fees are mainly based on the risk they take - against the possibility the cheque dishonours, after they've provided the cash.

So if the cheque's from HMRC / big utility company etc - commensurately lower fees. If it's from an individual - higher fees as the risk is greater?

Guarantee card - only appropriate if the cheque is handed over in person .. and you note it. It's not valid if the cheque drawer writes it on .... and most are only up to £100.

Yes - cheques have certainly dipped since their peak in the early '90s. But there's still close to 5M go through Clearing every day.

No I've never used one - and wouldn't recommend one as I think they prey on people.

If it's a regular wages cheque - can't you get a basic account in order to save the huge fees these people charge? But most bureaux de change / money shops will look upon a wages cheque from a registered Co as being among the lower risk categories eg see this link :

http://www.cashingacheque.co.uk/

..... certainly not recommending you go that route .. but you'll notice what they say about pay cheques.

AWOL wrote: »

I have poor credit histroy and to make things worse i dont have enough valid ID, eg utility bills and or birth certificate/passport.
I know i can get a birth cert pretty cheap but the utility bills are paid for as part of the rent so not under my name.
Catch 22 as they say.

Right ... fully understand all of that. But .... on the link I gave you - they are charging 25% for 'loans' against a cheque. That's obscene. As it effectively means you're working 1 week in 4 .. just to cash your wages cheque. You can't, to be blunt, afford to do that. So you need to look at options. Two ... that come to mind.

First one. Fully understand your boss not wanting to pay in cash. He has to draw it - then has the risk of holding it. But, if his Bank is reasonably close to you - he may be prepared to draw your cheque to cash - and make arrangements with his Bank that you simply cash it over the counter? No extra risk to him - and only a minimal cash flow issue in that the funds are drawn a couple of days earlier. Worth trying - as that appears to best fit the circumstances you have posted. If he's reluctant - just see if he's prepared to do it for a couple of months whilst you pursue ......

Option 2. Whilst your circumstances look like 'Catch 22' - they shouldn't be. Providing ID to open a Bank (even a basic one) account is the law - but it's not meant to be a show stopper for people in your situation. The Banks are expected to show some flexibility where people can't provide precisely from the 2 lists (proof of address / proof of who you are) they all have. There's a list of basic account providers at Page 4 on the attached FSA link. If you go and talk to a couple, that are local, you should hopefully have some success.
You should already have (thanks to Gillian) Tenancy agreement / Rent book - which proves address. P2 (Coding Notice) [from HMRC] / birth certificate (you need to get one) / letter from your employer on his headed paper (old fashioned proof - but fits with the requirement for Banks to be amenable) .... to prove who you are? But talk to a couple of the Banks - and explore options you can meet as acceptable ID. They broadly all tell you in their T&Cs that they will discuss options - so take them on! Page 8 on the link below - covers the ID alternatives in a bit of detail you should memorise for when you go into the Bank.

Give it a go - you're clearly intelligent ...... so you can't go on paying your money to cheque encashers, beyond this month!! People are claiming money back from Banks on the basis that charges are 'unlawful' .... so what on earth does that make the charges these people are levying? Sufficient excuse to go to war, I think.

Here's the FSA link - it's a .pdf - so not the friendliest to read. Expand it to 75% to read the table?

Best of luck.

http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf