ACE Cash Express is a popular financial services provider that offers a range of options for individuals who need quick access to their money, including check-cashing services. For many people who don’t have a traditional bank account or prefer not to use their bank for check cashing, ACE Cash Express is a convenient solution. Understanding the policies surrounding check cashing at ACE is essential for ensuring a smooth transaction and avoiding any unexpected fees or requirements.
In this article, we’ll explore the ACE Cash Express check cashing policy including the types of checks they cash, the fees associated with this service, and other key details to keep in mind when using their services.
What Types of Checks Does ACE Cash Express Cash?
ACE Cash Express provides check-cashing services for a variety of checks. The most common types of checks that ACE Cash Express will cash include:
- Payroll Checks: Payroll checks are issued by employers to pay employees for their work. ACE Cash Express will typically cash these checks, provided they meet the necessary requirements.
- Government Checks: ACE Cash Express will cash a wide range of government-issued checks, including tax refund checks, Social Security checks, unemployment checks, and stimulus checks. These checks are often seen as less risky, as they come from trusted government sources.
- Personal Checks: ACE Cash Express will also cash personal checks, although these may be subject to additional scrutiny. Some personal checks may be denied if the issuing account does not have sufficient funds, or if the check appears to be fraudulent.
- Cashier’s Checks: ACE Cash Express accepts cashier’s checks, which are checks issued by a bank on behalf of the payer. Cashier’s checks are considered more secure than personal checks and are often used in larger transactions.
- Money Orders: Money orders are a type of guaranteed payment, and ACE Cash Express offers cashing services for these as well. This is a popular option for people who receive money orders instead of traditional checks.
What is the Fee for Cashing a Check at ACE Cash Express?
One of the most important factors to consider when cashing a check at ACE Cash Express is the fee structure. While fees can vary based on the type of check, the amount of the check, and the location of the store, ACE generally charges a flat fee or a percentage of the check amount for its services. Here’s an overview of typical fees:
- Flat Fees for Payroll and Government Checks: The fee for cashing payroll and government checks is typically a flat amount, regardless of the check’s size. For smaller checks, this fee may be relatively low (around $1–$5). However, for larger checks, the fee could be higher.
- Percentage-Based Fees: For larger checks, particularly personal or business checks, ACE Cash Express may charge a percentage of the check’s total amount. This percentage typically ranges from 1% to 5%, depending on the size and type of the check. For example, a $1,000 personal check may incur a fee of $20–$50.
- Additional Fees for Money Orders and Cashier’s Checks: Money orders and cashier’s checks may also be subject to specific fees. Generally, the fees for these checks are similar to or slightly higher than those for government or payroll checks.
While these are general guidelines, it’s always a good idea to check the exact fee structure at your local ACE Cash Express, as fees can vary by location and check type.
What Identification is Required to Cash a Check at ACE Cash Express?
To ensure the check is being cashed by the rightful recipient, ACE Cash Express requires customers to provide valid identification. The most commonly accepted forms of identification include:
- Driver’s License
- State-Issued ID
- Passport
- Military ID
- Permanent Resident Card
It’s important that the name on your ID matches the name on the check, as discrepancies may prevent you from cashing it. Additionally, if the check is made out to more than one person, all payees will need to be present and provide identification.
Cashing Third-Party Checks at ACE Cash Express
Third-party checks are checks that are made out to one person but endorsed over to another person (the “third party”). These types of checks can be tricky, as not all financial institutions or check-cashing services will accept them.
ACE Cash Express has a strict policy when it comes to cashing third-party checks. In most cases, they will not cash third-party checks unless they meet specific conditions. The original payee (the person whose name is on the check) must be present and sign the back of the check, and the third party must also provide valid identification.
Since the policy can vary depending on the location and type of check, it’s always a good idea to check with your local ACE Cash Express branch before attempting to cash a third-party check.
ACE Cash Express Check-Cashing Limits
Like many other check-cashing services, ACE Cash Express has limits on the amount of money that can be cashed in a single transaction. The exact limit may vary by location and the type of check being cashed. However, in general:
- For payroll and government checks, ACE Cash Express typically has a $5,000 maximum limit per check.
- For personal checks, the limit may be lower, depending on the check and location.
If you need to cash a check that exceeds the limit, you may be required to make multiple transactions or visit a different location.
How Quickly Will the Funds Be Available?
One of the main advantages of using ACE Cash Express is the speed at which you can access your funds. In most cases, you’ll receive your money immediately after cashing the check, assuming all the necessary verification steps are completed.
For larger checks, or if the check is from an unfamiliar source, ACE may place a temporary hold on the funds to verify its authenticity. In such cases, the funds may be available within one or two business days.
Additional Services Offered by ACE Cash Express
In addition to check-cashing, ACE Cash Express offers a wide range of financial services, including:
- Money Transfers: ACE partners with services like Western Union and MoneyGram to provide domestic and international money transfer options.
- Prepaid Debit Cards: You can also load funds onto a prepaid debit card, which you can use for purchases or ATM withdrawals.
- Bill Payment Services: ACE allows you to pay bills directly from your ACE account, providing a convenient option for managing your finances.
- Loans: ACE Cash Express offers payday loans and installment loans, providing quick cash options when you need it.
Conclusion
Cashing checks at ACE Cash Express is a convenient and accessible option for individuals who don’t have access to traditional banking services. With a wide variety of checks accepted, including payroll, government, personal, and cashier’s checks, ACE makes it easy to access your funds quickly. Understanding the fees, required identification, and limits associated with ACE’s check-cashing policy is essential for ensuring a smooth transaction. Whether you’re cashing a small paycheck or a larger government check, ACE Cash Express can be a reliable