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Home › Pay › Common problems › Money transfer and check cashing fees
Fees and services

Money transfer and check cashing fees

Sending money to family or cashing a paycheck can cost more than it should. Some services charge an upfront fee and also give a less favorable exchange rate, and check cashing fees can take a slice of every paycheck. Comparing the total cost and using lower-cost options, like direct deposit, can keep more money in your pocket.

Common problems to watch for

  • Advertising 'no fee' while using a weaker exchange rate
  • Charging more for card payments or faster delivery
  • Check cashing fees taken from every paycheck
  • Scammers asking you to wire money or send it through an app to a stranger
  • Extra fees at pickup that were not clear when sending

Had one of these happen? Telling others what you were charged helps them avoid it.

Report it

Free and low-cost alternatives

Direct depositAsk your employer or benefits agency to deposit your pay straight into a bank or credit union account, which avoids check cashing fees.
Your bank's transfer featuresMany banks and credit unions let you send money to people in the US through their own app, often at no charge. Check your bank's fee schedule.
Mobile check depositMost banks' official apps let you deposit a check by taking a photo, free for account holders, though funds may take time to clear.
Bank On certified accountsIf you don't have a bank account, joinbankon.org lists low-cost certified accounts with no overdraft fees.

Availability depends on your device and model. AblePro has no relationship with any company named here.

What fair pricing looks like

A fair transfer shows the fee, the exchange rate and the exact amount the recipient will get before you pay. Compare that final amount across services, not just the fee.

Before you pay

  • Compare the amount the recipient will receive, not just the fee
  • Check the exchange rate against the rate shown by your bank
  • Ask whether paying by card costs more than paying by bank
  • Never send money to someone you have only met online or by phone
  • Keep the receipt with the confirmation number

How to cancel

  1. For international transfers, you can generally cancel within 30 minutes after sending, unless the money was already picked up or deposited.
  2. Contact the transfer company right away using the details on your receipt.
  3. Report errors on an international transfer within 180 days of when funds were due to arrive.
  4. If the company won't help, file a complaint with the Consumer Financial Protection Bureau.

Step-by-step cancel guide for iPhone, Android and PayPal →

Common questions

What must a company tell me before I send money abroad?

For most international transfers, the company must show the fees, taxes, exchange rate and the amount expected to be delivered before you pay. The person receiving it could still get less if their own bank charges fees. Your receipt should also explain how to cancel and report errors.

Can I cancel an international money transfer?

Generally, yes. You can usually cancel within 30 minutes after sending, with no cancellation fee, as long as the money has not already been picked up or deposited. Contact the company right away using the information on your receipt.

How can I stop paying to cash my paycheck?

Opening a low-cost bank or credit union account and setting up direct deposit is usually the simplest fix. If you don't have an account, look for Bank On certified accounts at joinbankon.org, which have no overdraft fees and low monthly costs.

General consumer information, not legal or financial advice. Reports reflect the experiences and opinions of their writers, not AblePro, Inc. We check reports against our posting rules but do not verify them.