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Cheque Cashing And Money Shops

By Craig Ellyard

Republish: EasyPublish™
Published: 05Jun2009
Word count: 445
Viewed: 641 time(s)

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With large supermarkets and out of town shopping centres becoming the norm the traditional high street in many English towns and cities is changing. Many of the shops and stores we are used to seeing are now located away from the city centre but there are a couple of new faces taking their place.

The ubiquitous fast food places, which seem to be mushrooming in every town, are being matched in the speed of their deployment by ‘money shops.’ And, rather like the burger and pizza joints they share the high streets with, the money shops offer their customers instant gratification and fast service.

But, just like fried chicken offers a different fast food experience from burgers, the money shops too come in different varieties and it is well worth shopping around to see where the best value lies. The typical city centre money shop will offer its customers various services with cheque cashing, payday advances and unsecured loans being the most popular choices although it is through cashing cheques that a money shop will do most of its ‘walk in’ trade.

And, although many of these new financial outlets provide identical services the devil really is in the detail. Or rather in the scale of fees they charge. And this is where the customer can save money by finding the best available deals.

Money shops are so popular of course because they are so convenient. If a person has a cheque they can take it into a high street financial outlet and cash the cheque immediately instead of putting it through their bank account and waiting up to seven days for their money. The fee charged by the money shop is more than compensated for by receiving money on the spot. Where the customer can save extra cash is by finding the money shop, or company, that offers a cheque cashing service for a low fee.

All financial institutions have to ensure their fees are clearly stated to it is easy for the customer to compare the fees being charged by the companies. Of course the money shops will not cash personal cheques but they will, subject to obvious security precautions, cash cheques from insurance companies, the Department of Social Security and the Inland Revenue. An employee can also cash their wage cheque and, with more and more employment agencies using this method to pay their staff, this service is of real value to many people.

If you are looking for a cheque cashing service make sure you know exactly how much the fees will be and don’t decide which company to use until you have compared the rates of several financial outlets.

Hull cheque cashing company Xtra Finance charge a low 3% fee for their cheque cashing transactions. As well as their cheque cashing service Xtra Finance also offer payday advances, unsecured loans and a gold buying service.

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