We have several customers at our bank who only have savings accounts. They just come in and buy money orders when they need to pay bills. Plus the money orders from the bank tend to be much more secure than postal money orders that have the tendency to be easily forged. Unfortunately, due to federal law, we can't sell money orders or cashier's checks to non-customers of the bank nor can we cash money orders or cashiers checks for non-customers unless they came from our bank.
And believe it or not, some people actually can't qualify for a checking account! I guess the best way to describe it is that you go through something similar to a credit check to see if you have had checking accounts in the past and if any of them have been closed out due to account abuse or write offs. If there are bad remarks about any of past accounts at other banks we won't open one at our bank. We also have accounts that aren't allowed ATM cards or bounced check protection because they're irresponsible with their accounts.
And lastly, this one depends totally on the bank. We have a list of local businesses that we will cash checks for with no fee regardless of the bank it is drawn off of. These businesses are the reputable ones that don't pass bad checks. We do get the people who want to cash checks from some unheard of businesses and don't have accounts with us, but unfortunately we have to turn them away since we can't take the risk of the check being bad. Those people we'll usually refer to the local Wal-Mart.
And believe it or not, some people actually can't qualify for a checking account! I guess the best way to describe it is that you go through something similar to a credit check to see if you have had checking accounts in the past and if any of them have been closed out due to account abuse or write offs. If there are bad remarks about any of past accounts at other banks we won't open one at our bank. We also have accounts that aren't allowed ATM cards or bounced check protection because they're irresponsible with their accounts.
And lastly, this one depends totally on the bank. We have a list of local businesses that we will cash checks for with no fee regardless of the bank it is drawn off of. These businesses are the reputable ones that don't pass bad checks. We do get the people who want to cash checks from some unheard of businesses and don't have accounts with us, but unfortunately we have to turn them away since we can't take the risk of the check being bad. Those people we'll usually refer to the local Wal-Mart.
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