How do I cash my IRS refund ; have no bank account

[phoenyx]

I am filing Chapter 7 bankruptcy within the next week, but this post isn't specifically about bankruptcy.

I'm going to be receiving an IRS refund check for about $8000. As a side note, it's exempted in my bankruptcy.

I haven't had a bank account in my name for some time, because my bank account closed due to being overdrafted for a while. I am currently in TeleCheck's system for an outstanding overdrafted account.

When I get this IRS refund check, what do I do with it?

Is there anywhere I can go to cash a check for this large of an amount? Can I just walk into a bank and try cashing it with a few forms of ID and the Treasury check? Lol, not sure if that would work.

I'm not interested in those IRS refund loans, just looking for somewhere to cash it.

Otherwise, do I need to find a way to open a bank account to deposit the check? I've been waiting to do this until after the bankruptcy...

[no_it_all]

Can I just walk into a bank and try cashing it with a few forms of ID and the Treasury check?

Why not? They will take your thumb print and put it on the check but you should have no problem cashing it. Go to a Fed Reserve Bank in a metro area..Eight grand isn't really that much money anymore...

[ameliabedilia]

Did you file by yourself or use a company like hr block? I heard they will give you a loaded debit card. I would not want $8000 in cash. Now might be the time to open a bank account. There is no advantage to waiting until after bk as far as I know.
And you need to change your exemptions and quit giving the IRS an interest free loan all year.

[Lindsay]

Can you get a regular savings account instead of a checking? I had a bad Chex report several years ago and I was able to easily open a savings account at the bank.

[phoenyx]

Thanks everyone for the quick responses!

Why not? They will take your thumb print and put it on the check but you should have no problem cashing it. Go to a Fed Reserve Bank in a metro area..Eight grand isn't really that much money anymore...

OK, great! I know I can thumb print & cash checks at banks that the check is drawn off of, if someone gives me a check personally. Just wasn't sure if that worked with refund checks since there isn't exactly an account at the bank that it's off of. I got to thinking that the bank you're cashing at it doesn't have, then, a way to verify the check is still good. I mean, they can believe the government is good for it, but they don't know that the cash hasn't been cancelled and re-issued.

Did you file by yourself or use a company like hr block? I heard they will give you a loaded debit card. I would not want $8000 in cash. Now might be the time to open a bank account. There is no advantage to waiting until after bk as far as I know.
And you need to change your exemptions and quit giving the IRS an interest free loan all year.

I'm filing by myself. I know what you mean about all that cash, but it's something I'm comfortable with. Yeah I hate the interest free loan. I took a large Schedule K-1 loss from my S-Corp that I wasn't expecting, on the return that's giving me the refund, so I had my normal exemptions taking money away.

Can you get a regular savings account instead of a checking? I had a bad Chex report several years ago and I was able to easily open a savings account at the bank.

Maybe, I hadn't thought about that. I thought negative TeleCheck entries prevented you from opening any bank account, but you're probably right, savings accounts might not have issues with it.

[no_it_all]

OK, great! I know I can thumb print & cash checks at banks that the check is drawn off of, if someone gives me a check personally. Just wasn't sure if that worked with refund checks since there isn't exactly an account at the bank that it's off of.

There isn't? Did you miss the part of my post that said go to a Federal Reserve Bank? That is where the United States of America keeps it <checking account>. Sooo, you would in fact be cashing it at a bank where the account is...Believe me, it is no different that cashing a saving bond in...you don't need a bank account, just give them your thumb print and a couple of IDs..

[phoenyx]

There isn't? Did you miss the part of my post that said go to a Federal Reserve Bank? That is where the United States of America keeps it <checking account>. Sooo, you would in fact be cashing it at a bank where the account is...Believe me, it is no different that cashing a saving bond in...you don't need a bank account, just give them your thumb print and a couple of IDs..

My reply was kind of badly written, I meant at a regular bank. I went through a Federal Reserve Bank on a tour once, and had no idea that individuals could do anything there but go through the tour.

[dpickrn]

Are you reported in TeleCheck or ChexSystem? I know ChexSystem can prevent you from opening an account elsewhere, but I didn't know that TeleCheck could. If it's ChexSystem, your bankruptcy can help you clear off that negative entry. I've not dealt with TeleCheck to know if it would help with that.

[emoney]

In your BK filing list the banks that your owe fees and then send your filing or discharge to CheckSyaatem and Telecheck.
With that you will probably be OK to open a checking account.
regards,
emoney

[phoenyx]

Are you reported in TeleCheck or ChexSystem? I know ChexSystem can prevent you from opening an account elsewhere, but I didn't know that TeleCheck could. If it's ChexSystem, your bankruptcy can help you clear off that negative entry. I've not dealt with TeleCheck to know if it would help with that.

The notices I'm receiving about the account are from TeleCheck, so as far as I know that's the only system I'm in.

[cj0203]

I worked in a bank and we cashed Tax checks up to a certain amount, but be aware there might be a fee to do so.

[PaKettle]

Whatever you do, do NOT go to a check cashing place! They are scum who will rip you off with fees that are unbelievably high.

[NASCAR20FAN]

I am filing Chapter 7 bankruptcy within the next week, but this post isn't specifically about bankruptcy.

I'm going to be receiving an IRS refund check for about $8000. As a side note, it's exempted in my bankruptcy.

I haven't had a bank account in my name for some time, because my bank account closed due to being overdrafted for a while. I am currently in TeleCheck's system for an outstanding overdrafted account.

When I get this IRS refund check, what do I do with it?

Is there anywhere I can go to cash a check for this large of an amount? Can I just walk into a bank and try cashing it with a few forms of ID and the Treasury check? Lol, not sure if that would work.

I'm not interested in those IRS refund loans, just looking for somewhere to cash it.

Otherwise, do I need to find a way to open a bank account to deposit the check? I've been waiting to do this until after the bankruptcy...

Actually, most banks use Chexsystems now, not Telecheck. Honestly, I'd wait till the end of the month. Most banks try to push alot of accounts at them end of the month to make thier numbers for the month. If something does come up the branch manager might override any alets so the account will stay open. I work for Citizens Bank here in PA, and I see it all the time...Don't wait till after. I'd try to open an account, you may be surprised...

[systemslt]

the HR person at my work says i can have my check deposited into a "walmart money card" i have herd that this is all most becoming a new currency.

[One Half Full]

I have had an account I have always kept for "emergency" money at a small federal credit union for several years. It was a savings account only, tough at one time I had stocks and even bought a car there. I kept the account active, and have had it for about 9 years. I went there last week and said, "I am having a hard time cashing checks. I screwed up my "real" bank account, I have two loans a credit card, and an overdraft which I am about to file bankruptsy on. Can I open an account here?

I expected the answer to be no, but they looked at my credit record and allowed me a basic checking account, with a debit card, and payroll deduction, and of course check cashing privileges.