Cheque Cashing Services

In the UK the high streets in our towns and cities are undergoing a major facelift. With many of the retail outlets we are used to seeing now relocating to out of town sites there is a shift in the style of new stores that are 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.

However, just like a burger is a different fast food compared to a pizza, money shops too offer different experiences and the customer should take care to find the outlet which offers the best value. 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. By looking around and finding the best value the customer is able to save money.

Money shops are so popular of course because they are so convenient. The main attraction to most customers is that instead of having to deposit a cheque into a bank account and waiting for seven days for it to clear the same cheque can be taken into a money shop and be cashed instantly. The fee charged by the money shop is more than compensated for by receiving money on the spot. Finding a high street money shop with a low rate for cashing cheques compared to other stores is one way in which the customer can make some savings.

Of course it is a simple task to compare the scale of fees being charged by different shops as all financial outlets have to clearly display their charges. The types of cheques that can usually be cashed include those issued by large organisations such as the DSS and the Inland Revenue. but, they will obviously not cash personal cheques. And, with many employers choosing to pay their employees with a cheque, a financial outlet providing a facility in which an employee can cash their wage cheque is offering a valuable service.

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.


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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.