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The check cashing service, whether through advanced short-term loans or through percentage of checks cashed, makes money on each cashed check. As with a bank, one still needs to provide identification, and the check cashing service may not accept personal checks. Some companies offer direct deposit, where money is loaded onto an ATM card and picked up at a check cashing service store. If one doesn’t make a lot of money, it may cost about the same to cash checks in a month as it would to pay bank fees.

Usually, however, this is not the case. Fees from check cashing services tend to exceed bank fee amounts. For example, cashing a 1500 US dollar (USD) check might incur a 3-5% fee. That is 45 USD in fees at the lowest percentage. Even a 1% fee would be 15 USD. Conversely, most banks that charge a monthly service fee charge about 10-15 USD per month. Thus one is often losing money when using a check cashing service.
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