Cheque Cashing Services (Bit of an Emergency)

saubryn

I'm in seriously desperate need of money, and I bank with Citibank, which normally isn't a problem, but I need a new paying in book, and I ordered one during December, but it never arrived.

I have a £250 cheque sat waiting to be paid in, but even if the book arrives on Monday, the cheque won't clear in time (I need the funds by Wednesday).

So, I'm looking at cheque cashing services - places like The Money Shop, The Mint, etc.

Does anyone have any idea what the fees at those kinds of places are? All I can see on the web sites is 'a nominal fee and a percentage', but no table of what the charges are.

I gather places like that are a terrible option under normal circumstances, but if you HAD to use one of them, which one would be best?

Thanks in advance.

Becles

I bank with Smile internet bank, but can deposit cheques in Co-op bank branches. I write my account number and sort code on the back, and they swipe my debit card and key them straight onto my account. I've not used a paying in book for years!

Don't know how Citibank work, but it might be an option to look into.

saubryn

Thanks for your response.

Normally, if I have a paying in book, I can pay in at a branch of Lloyds TSB.

I asked at my local Lloyds branch if they could use my debit card / account number and somehow process the payment, but they flat out refused - the first person I spoke to said they couldn't accept a cheque for a Citibank account even if I had the paying in book! (This is despite me paying in a cheque or two a month there, every month for the past year....:mad:)

Even if I could pay it in, it's far too late now (cheques take around 7 days to clear) - hence feeling the need to use one of those rip off instant services. I'm trying to figure out which is the least rip-off ish.

saubryn

We're living credit card free (un)fortunately. I stopped using them a couple of years ago, and won't get one again until we're debt free.

saubryn

We have no credit cards / overdrafts / nothing like that - we're paying off debts, and covering day to day expenses with our regular income.

The oven broke during mid December, and I've arranged for someone to come repair it (it's expected to cost £90). They're coming on Wednesday. I've had this cheque for what feels like forever, but no way to pay it in.

Admittedly this situation is my own fault. I should have requested a new cheque book when I noticed I was getting low. Citibank are usually MUCH faster about processing stationery requests, although it's understandable that the post may be messed up with so many bank holidays at this time of year.

So now I have someone coming out, that I've already agreed to pay on the day, and no cash - hence the question.

saubryn

Thanks! That site says I'll lose £17.75 - that's not as bad as I was expecting. Still a fortune when you consider it as a percentage of the cheque, but given the circumstances it's not too bad.

Lesson learned though - I'll be staying on top of paying in books in future (and asking people to pay by BACs when possible!)

Thanks again.

lulaloo

if you use wonga.com you can do it all online. Not the best situation to get yourself in, but just make sure this is the only time you do it