The Money Shop Cheque Cashing

Lanska

Has anyone any experience of the cheque cashing service. I need to have a cheque cleared quickly to avoid bank charges I have been quoted 2% on a £6000 cheque is this likely - or will it suddenly jump to 5 or 6 percent when I am given the offer.

Any advice would be helpful

Lanska

jonesMUFCforever

So you are willing to pay £120 for cashing a cheque TO AVOID BANK CHARGES.
Why not just pay the thing into your bank and ask if they would compromise on the charges?

Otherwise you need to check out the company to see how much they will charge you.

If it was me I would rather pay say £30 for the people who are sending you the money to CHAPS it to your account so that you receive it as cleared funds.

churchrat

why not open an account with a different bank?? it needn't be a full bank account, Nationwide do a Flexisaver( I think its called that) you just need to take along a couple of proofs of id and £1.00. Only problem, I think cheques take about 5 days.

justruth

I would take the cheque to the bank first and explain the situation, I have been in a similar situation before and the bank initially stated that it only allowed money from cheques to be drawn if the amount was less than £1000, on further calm chatting with the assistant I managed to get all payments from DD and SO's cleared for the next 5 days and I was advised that so long as the cheques did not bounce I would not get charges as the paid in date is from the day you present the cheque, not the day it clears. I guess it depends on the bank and your ability to convince them that the cheques will not bounce. (mine came with all kinds of documentation that would reassure most that it would not bounce)

I hope that I am not too late in posting this.

Rafter

Very unlikely that a company would cash a cheque of that size. Certainly legally they would have to carry out money laundering and other checks to make sure you were genuine.

R.

vanhalen2007

We have cashed far far far higher cheques than that in the company, if you do decide to cash it, just take down some good photo ID, a letter and anything that came with the cheque(ie the letter that came with it/invoice or whatever it was for), and chances are you will be done and dusted within ten minutes.