You can only spend the money you have, so it’s important to manage your checking account responsibly. Some people choose to manage their cash by using personal checks in specific situations. For example, if you shop at Walmart frequently, it might be a good idea to get the cash-back personal checks that they offer as a way of incentivizing customers to shop with them more often. Checking accounts are where you store your money, but there are several different types of checking accounts. Each type has its own advantages and disadvantages, so it’s important to know what works best for your particular situation. In this article, we’ll answer the question “Do Walmart Cash Personal Checks?” However, if you need more information about any of these topics or want to learn about other ways that personal checks can be a useful tool for managing your finances responsibly, read on!
Do Walmart Cash Personal Checks?
According to the Walmart website, yes, Walmart does accept personal checks. However, there are a few requirements that must be met in order to write a check to Walmart. To write a check to Walmart, you must have a valid Walmart account number. Additionally, you must provide the correct routing and account numbers for your check in order for it to be accepted by the company.
How Can Walmart Cash Personal Checks?
1. Save for Big Purchases
Whether it’s a new car, a house, or a new furnace for the winter, you’ll probably need to make a large purchase at some point in your life. While a savings account is a good way to save up for such things, it can take a long time to put together the amount you need. A Walmart cash personal check is a more immediate way to save for a specific purchase. You can write a check that is the amount you want to save and then cash it when you are ready to buy the item. This way, you don’t have to worry about constantly having that money in your checking account and then having to transfer it back out. It can stay in one safe place until you need it.
2. Have an Emergency Fund
Emergencies can arise at any time, and they can be costly. You can’t predict when something might happen, but you can plan to have the money ready to pay for it when it does. The best way to have an emergency fund ready is to keep some cash in your checking account at all times. But what if you don’t have enough cash in your account to cover a big emergency? You can always withdraw money from your savings account, but having it in cash helps you to avoid transferring money from checking to savings and vice versa. Having a Walmart cash personal check with you means you can transfer the amount to your checking account and have cash on hand to pay for the emergency.
3. Pay Off Debt
Debt isn’t always a bad thing, but it can quickly start to take a toll on your finances if you don’t pay it off. From minimum monthly payments on credit cards and car loans to student loan payments and more, it can be tough to make a dent in your debt with just a normal amount of income. Having a Walmart cash personal check and knowing when to use it can help you to pay off debt more quickly. Whenever you have the amount you need to pay off a debt, such as your monthly car payment or a high-interest credit card, use the personal check instead of taking money out of your account or cashing a personal check.
4. Make a Financial Resolution
Making resolutions to change your financial habits is a great way to start the new year. Maybe you want to spend less money or work towards paying off your loans. Whatever your goal, you can use a Walmart cash personal check to help yourself achieve it. When you want to spend money on something and you have enough saved in your account, you can use a check instead and help keep yourself on track. For example, you can use a personal check to pay off an extra loan payment each month or put money into your savings account to help you save more. You can also use it to make a charitable donation or put money into a 401(k) plan.
5. Buy Yourself Some Time
Sometimes, you just need a bit more time before paying a bill. Whether you’ve made a mistake calculating the payments or you just need a little extra cash to get through a short-term financial crunch, a Walmart cash personal check can help you out. If you have a bill you can pay using a personal check, like a monthly loan payment, you can write a check for the amount you know will be enough to cover the bill, but won’t be due for a few days or even weeks. For example, let’s say you want to pay your electric bill but don’t have enough cash in your account to do so. You can write a check for the amount of the bill but write the date of the payment two weeks in the future. This means that you have more time to transfer the money from your checking account to the electric company’s account.
Why You Shouldn’t Use Walmart Checks
- They Might Not Be Available At Your Local Store – Some Walmart stores offer personal checks, but not all of them do. If you visit a store and they don’t offer them, you might not be able to cash your check there. You’ll need to visit a different store in your area. Some states might not have any locations that offer personal checks.
- They May Not Be Worth The Fee – In order to take advantage of Walmart’s interest-earning offer, you need to keep your balance at $50 or higher. However, if you pay a few bills or buy a few items at Walmart, you might not be able to keep your balance above $50. If that’s the case, you’re better off paying the fee and cashing your check at another place like a bank.
- -You May Be Better Off Using A Bank – The interest you earn on Walmart checks is only 10 times less than you would earn with a bank. Plus, banks are more likely to give you a free checking account and not charge you a fee for cashing your check. You Might Not Have Time To Keep Your Balance At $50
- If you need to cash a check on short notice, you might not have time to keep your balance above $50. If you don’t, you’ll pay a fee. You also might not be able to cash your check immediately if you have a low balance.
Why You Should Use Walmart Checks?
- They’re Easy To Get – Walmart’s cash checks are very easy to order and use. You don’t have to go to the bank and wait in line. You can log in to your account and order them right at home.
- They’re Easy To Use – Once you have your checks in hand, cashing them is very easy. All you have to do is take them to your local Walmart store and present a valid photo ID. You can also cash them online.
- They’re A Great Way To Get Extra Interest – If you keep your balance at $50 or higher, you’ll earn interest on your checking account. Walmart’s interest rate is 10 times less than the interest rate at many banks. However, if you pay your bills with these checks and keep your balance above $50, you’ll earn interest on your checking account!
The Downsides To Using Walmart Cash Personal Checks
- You Have To Keep Your Balance At $50 – It’s great that you earn interest on your checking account if you keep your balance above $50, but if you need to cash a check and your balance is below $50, you’ll pay a fee. You’re better off cashing your check at a bank and keeping your account open.
- They’re Not Great For Paying Long-Term Bills – If you have a long-term bill, like a car or house payment, or a utility bill, you can’t pay those with a personal check. You can, however, pay them with a money order. Walmart’s cash personal checks are best for paying short-term bills or for repaying a friend.
- They’re Not A Good Way To Pay Your Mortgage – If you’re paying your mortgage with a personal check, you’re taking a risk. The person who has your mortgage might cash the check for the full amount and take money out of your account
- You Can Only Cash Them At Walmart – If you don’t have a car and you want to cash your check, you’ll have to find a friend willing to drive you to the nearest Walmart store and wait with you while you cash your check. You can’t just mail your check to your mortgage company or another long-term bill.
Conclusion
Walmart’s cash personal checks are an easy way for you to get more interest on your money. You just need to keep your balance at $50 or higher and be willing to travel to the nearest Walmart store when you need to cash your check. However, if you have a car and live close to a Walmart store, you might be better off getting the cash-back personal checks because they’re easier to cash than a personal check. If you live far away from a Walmart store, you might be better.
