You Have Options For How To Receive Your Unemployment Benefits
Millions of workers have filed for unemployment insurance benefits as a result of the coronavirus pandemic. If youve lost your job or a portion of your income, you can apply for benefits through your state unemployment program, and if you qualify, you have options for how you can receive this money.
In most states, you can receive your money either on a state-issued prepaid debit card or by having it directly deposited into your own bank or credit union account or onto an existing prepaid card. In some states, receiving paper checks is also an option. While the majority of workers who are eligible for unemployment benefits have already filed as a result of COVID-19, many states will allow you to make changes to the way you receive your benefits.
What Happens To The Amount Of Tax Money The Government Collects If Unemployment Is High
A period of high unemployment may reduce the amount of money the government collects in taxes. Of course, national taxation is a complex system thats always subject to political and economic changes. For example, if a government doesnt collect enough revenue from taxes, it could potentially increase taxes the next tax year to make up for those losses.
Direct Deposit To Your Own Bank Account Or Prepaid Card
Similar to how you may have used direct deposit to receive your paycheck, you can have your money automatically sent to your checking or savings account or a prepaid card that you already own.
What you need to know
- Benefits go directly to your own bank or credit union account or prepaid card
- Access your benefits same as you already do with other money in that account
- Benefits are sent to your account for free
What to watch out for
- Look closely for this option when filling out unemployment forms
- People without their own bank account or prepaid card must open one to take advantage of this option
With direct deposit, you receive your money quickly and safely, and you can manage your unemployment benefits just like any other funds in your account. It also eliminates the risk of paper checks getting lost or stolen, as well as the need to physically deposit or cash it at a bank or credit union.
If you prefer to use a prepaid card, direct deposit is generally an option, but youll want to check first with your card provider to find out if your card is eligible to receive direct deposit. If you dont already have a bank or credit union account or prepaid card, youd need to open a new account first, which many financial institutions are allowing you to do online.
No matter what state you live in, the following information is typically whats required for signing up:
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How To Cash A Check Online Instantly
The INGO money app lets deposit your money within minutes into most banks. Users can also transfer money into PayPal or prepaid card account, pay credit card accounts, buy Amazon gift cards, or get cash at a local MoneyGram location. The cash checking app will accept the following types of checks:
- Stimulus with a pre-printed signature
- Government with a pre-printed signature
- Payroll with a pre-printed signature
- Two-party personal
How To Cash Your Government Check
Whatever kind of government check youd like cash, your local Money Services can help you access your money in no time. Heres what you need to do:
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Find us Search for your local Money Services using our store locator tool.
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Bring your check Take your check to your local Money Services the fee will be deducted from the cash you get back.
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Bring your details Make sure you bring the valid ID, and know your Social Security or Taxpayer Identification Number.
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Take all named adults If there are two named adults on one check for your household, you will both need to be present to cash in-store.
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Cash your check Our friendly in-store team will give you your money right away.
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Do I Need An Id To Cash A Check
How to cash a check without ID:
- Deposit it into your account through an ATM at your bank
- Take advantage of ATM check cashing if your bank offers it
- Sign the check over to someone else
Most banks require your ID be presented before they cash a check, but theres no standard list for whats considered an acceptable form of ID. Check with your bank or the bank that issued the check to see if you have a document that theyll accept as ID.
As a last resort, you can sign the check over to someone you trust and ask them to cash it for you. This creates a third-party check. However, if you choose this option, keep in mind that many banks will require verification that original payee authorized the signing over of the check, by having the original payee present and presenting their ID. Read about how to endorse a check to have a friend cash it for you.
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My Debit Card Is Set To Expire How Do I Get A New Card
A new debit card will automatically be issued to you when your card is set to expire if there has been financial activity in the last 90 days or you have a card balance of $20 or more. New cards will be mailed on the first business day of the month that the card is due to expire. You should receive a new card within 7 to 10 days after the mail date.
How To Find Out When My Unemployment Benfits Were Mailed
When you file your weekly unemployment claim in your state, the processing time can vary. Factors such as a large number of claims, public holidays and a processing backlog can all hold up your benefits check. If you are trying to budget, you may need to know exactly when your unemployment benefits check is mailed each time. Fortunately, most states offer more than one way for you to check the status of your unemployment check.
Log into your online account where you file your unemployment benefits, if you do your filing online. Some states show when your most recent benefit payment was mailed once you log into your account. For example, in Ohio you get a copy of the benefits statement the day that it is mailed sent to your online inbox for your unemployment account. In California, you can view the date the benefit payment was processed and mailed if you file your benefits via EDD Web-Cert.
Contact your state unemployment office via email using the Contact Us option on its website. Not all states have this option. For example, if you are in California, you can click on Contact Us and ask by secure email the status of your benefits check. Typically a response comes within 48 hours.
References
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Endorse Your Check To A Friend Or Family Member
If you dont have a bank account of your own, then you could endorse the check to a friend or family member who does.
Endorsing a check is a simple two-step process:
- You write Pay to the order of
- Sign underneath
They can then cash the check for free and give the funds to you.
This obviously requires a deep level of trust and, in some cases, you both have to be present at the bank so they can prove that you are not being pressured or forced to do this. Youll likely be asked to fill out a form to certify your endorsement.
Depending on how often you need to cash a check, it may be much easier for you to open a checking account of your own and avoid this workaround. The last thing you want is for money to get in the way of your relationships with friends and family.
Atm Check Cashing Place Near Me Open Now
There are check cashing ATMs on nearly every corner. Depending on your location, few local grocery stores may open 24 hours to provide money services. Several large national banks offer 24-hour access to their ATM network.
ATM machines are convenient because, in most cases, they are always open 24/7. They are even open on Saturdays and Sundays. According to Wikipedia, there are approximately 3mm ATMs throughout the world.
Technically, the check cashing system at ATMs is a two-step process in the eyes of the bank. You are first depositing the check. Then you are making a withdrawal for the funds.
It is suggested you have a relationship and an open account with a large national bank ahead of time. If you dont have an account with a bank or credit union, you will likely incur fees and be unable to complete your transaction.
The bank or credit union is essentially making a good-faith cash advance, especially if your account funds are running low. The bank must then collect the funds from the payees bank and hope the check does not bounce.
Make sure the specific check-cashing machines you plan to use accepts deposits. On rare occasions, an older ATM machine will not accept deposits. ATMs with checks scanners are more likely to grant you access to your desired funds immediately.
You should easily find a bank or find local ATM corner stores that cash checks at night or weekends, given there are nearly 500,000 ATMs in the US alone.
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Can You Cash A Check At An Atm
Even with a bank account, you technically cant cash a check at an ATM.
You could deposit a check and immediately follow it up by withdrawing cash from your account. However, if you have nothing in your account prior to depositing the check, you will not be able to withdraw the funds for 24 to 48 business hours.
Without an account, though, there is no way to do this.
Receive Your Unemployment Benefits By Direct Deposit
Please note: You may choose to receive your unemployment benefits by direct deposit or on a debit card. Prior to choosing how you would like to receive your benefits, you must review the debit card disclosure information that explains all the fees relating to the benefits card program.
How to sign up
You must sign up for direct deposit online.
- Sign up when you apply for unemployment benefits. Youll need your bank or credit union account and routing numbers. They are displayed on your check.
- If you already have applied for benefits, wait 24 hours and then you can:
- Sign in to eServices.
- Click on Settings in the upper right of the page.
- Under I want to, choose Update payment information and follow the instructions.
Frequently asked direct deposit questions
Q. Can I apply for direct deposit if my bank is not in the United States?A. No. Direct deposit is available only with banks or credit unions within the U.S., including Alaska and Hawaii. We cant send direct deposit payments to banks or credit unions in other countries, Guam, Puerto Rico, the U.S. Virgin Islands or American Samoa.
Q. What if I didnt sign up for direct deposit when I first applied for unemployment benefits?A. You must wait at least 24 hours from when you applied for benefits.
Q. What happens if I had direct deposit on an old claim and I file a new claim?A. If you restart a claim, direct deposit stays active unless you change or cancel it.
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How Check Cashing Services Work
As stated, youd get instant cash access by clearing your checks with check cashing services. When you deposit a check at a traditional bank, the process becomes time-intensive. You need to wait for a few days until funds are available.
Moreover, people who dont have a bank account may not be able to encash checks. When you walk into a check-cashing center, you need to show your government ID. In a few minutes, you can get the money liquidated.
The Bank Listed On The Check
If youre trying to cash a check without a bank account, the easiest place to start is with the bank on the check youre trying to cash.
To find this information, simply look above the memo line in the bottom left corner. Call a local branch to find out its check cashing policy.
It can easily verify the availability of funds by checking the account balance of the one who wrote you the check. Some banks will even give the account owner a phone call on the spot as a security measure to ensure there is no fraud taking place.
The bank listed on the check used to be the cheapest option to get your cash. Now, most of the big banks have started implementing fees to get your check cashed if you do not have an account with them. Most charge a flat rate or a percentage of the check amount up to a certain maximum.
Every bank will have different terms and requirements to cash checks that are tied to its institution. The most foolproof option is to call ahead and ask about its policy and fees.
Youll need 1-2 forms of valid ID to confirm the check is yours, so make sure to bring a drivers license, passport, or another government-issued ID card.
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Community Financial Service Centers
Community Financial Service Centers has over 200 locations in the continental USA. Not all CFSC stores are 24 hour check cashing store locations.
What types of checks will CFSC cash?
With no bank account, you can cash the following:
- Payroll check cashing
Check cashing fees and limits vary by location.
What documents will you need to cash a check at CFSC?
You will need to provide the following information:
Unlike a traditional bank, you will not need to wait for the funds to clear and no monthly maintenance fee.
All CFSC places are open on Saturdays. On the Community Financial Service Centers site map, you will also see that it has many check cashing places near me open on Sunday.
What types of services does CFSC offer?
How Long Is A Check Good For
Banks dont have to accept checks that are more than 6 months old. Thats according to the Uniform Commercial Code , a set of laws governing commercial exchanges, including checks. However, banks can still choose to accept your check.
Sometimes banks will still process an old check as long as the institution believes the funds are good. A Federal Reserve regulation says a bank does not have to deposit a check if it has reason to doubt that it will be able to collect the money from the paying bank.
The rules are a bit different for certified checks, U.S. Treasury checks and money orders.
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Cashing At A Retailer
Several retailers offer check-cashing services through their customer service departments. It’s important to shop around, though, since cashing a check this way will cost you a fee that can vary by retailer.
This can be a convenient option, especially if the issuing bank doesn’t have a physical branch nearby. But you might not be able to find a retailer that will help you if it’s a larger check.
Check Cashing And Why You Need These Services
Check cashing is a typical money service. You can exchange your paycheck or checks into hard cash through this mechanism even when you dont have access to your bank account. To ensure undisrupted access to cash, the service providers offer check cashing services 24/7.
With check-cashing services, customers can encash government, payroll, or any other type of check. Even when you dont have a bank account, you can liquidate the checks for instant funds. Along with check cashing, these businesses also offer other facilities such as ATM access, electronic bill payments, payday loans, and money orders.
You might need check cashing services when you require immediate funds. Unlike banks, you dont need to wait until the check is processed. Even if youre cash-strapped at odd hours, you can instantly encash your checks.
Moreover, you need to shell out a reasonable amount as a fee. However, theres no extra charge like monthly fees that you need to incur at banks, overdrafts, annual withdrawals, ATM fees, etc.
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Ways To Receive Unemployment Benefits
Here are the most common ways to receive your unemployment insurance benefits:
Check the website of your states unemployment office because the options and processes for signing up can vary, and due to the coronavirus, it may be difficult to reach a customer service representative for additional support.
Can I Cash A Check Without An Id
With the exception of endorsing your check to a friend or family member, all of the check cashing places above will require at least one form of ID, sometimes two. If your ID is expired, then technically it is not valid and wont count as a form of identification.
If you do not have an ID, you have three options:
- Endorse the check to someone else
- Cash the check online
- Sign up with a bank and use its online app
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