PLS Check cashing is a service that lets you cash checks for one percent cost and the fee of $1. PLS Financial Services (PL$) refers to Payday Loan Store. The company started in 1997. The company is headquartered in Chicago, IL, and has branches across the 12 US states.
PLS is committed to simplifying people’s lives by providing practical or helpful everyday money solutions.
Payday Check Service is Available through PLS
PLS provides a wide range of cashing services for checks. These include:
- Personal checks
- Payroll checks
- Out-of-state checks
- Government checks
In addition to these standard services, PLS also offers the convenience of Check-cashing stores where you can quickly and easily cash your Payroll checks and other types of checks.
These are just a few of the services offered. We will discuss PLS’s other products and services later in this article.
PLS Financial Services Company Overview
PLS Financial Services has more than 300 branches in 12 states. They are growing continuously. Their goal is to make it simpler to earn cash for all their customers, including those who use credit unions.
It has been a while since businesses providing services such as online payday loans, prepaid cards, and types of checks cashing have been seen as “shady” in the eyes of the general public. Yet, PLS Financial Services aims to impact the lives of its clients, including those who are members of credit unions. As its website indicates (PLS247.com), PLS Financial Services is available 24 hours daily.
Alongside cashing checks, PLS offers products and services such as credit for individuals or personal loans, as well as title transfer as well as credit cards that allow prepaying use, as well as tax refunds. Businesses, like Check Into Cash are considered the primary competitors. Cashing types of checks are at the heart of their operations.
From Glassdoor, the financial services sector is expected to comprise between 1,000 to 5,000 workers with annual revenues of between $100 to $500 million. With this kind of income, it’s clear that this isn’t just an ordinary mom-and-pop shop. Many businesses rely on the essential service of business checks to streamline their operations and choose pre-printed checks as a convenient form of payment.
PLS Credit Card Cashing locations
Pay-by-checks at PLS are accessible at various locations throughout the US, providing a secure form of payment for many clients:
- New York
- North Carolina
It could appear to be an unintentional scattering of states, but PLS continues to expand. While many customers purchase goods using credit cards nowadays, cash remains an extremely popular payment method. “Cash is the most powerful,” as they say. It will continue to become a huge success as long as it’s true.
What is its performance?
Check cashing through PLS lets users convert their checks into cash. One benefit of PLS check cashing is receiving money on your check without opening an account at the bank. They are typically open throughout the day, which is the case for PLS.
According to the FDIC, FDIC’s statistics show that in 2017, 6.5% of all households across the US did not have a bank account. Although that may seem small, it’s 8.4 million individuals. There are numerous reasons why people don’t have a bank account, but there’s a chance when there’s a need for it.
If you’re not a financial institution and require money to paychecks, this is a must-have service when you have to cash the need to cash the check. These services are necessary for the individual to have options.
Apart from the fact that you do not require an account with a financial institution for check cashing services such as PLS, Another advantage is the time the services use up, especially considering the business days and the type of check involved.
What’s the timeframe?
Check cashing is quick and straightforward if you’re seeking cash to cover the cost of your check. The process is almost instantaneous, depending on the type of check. Direct deposits can also be completed quickly, usually within a few business days. Be aware of the additional cost of 1% and the $1 fee. It is the price you pay to enjoy convenience.
If you’re depositing money to a bank account, it’s a regular transfer to a bank. It means that it could take up to two days to complete. But, since the main reason to consider using a check writer or checking to cash is immediate access to cash, it’s not the most popular option.
Are cash-checking locations legal?
Establishments that cash checks, including check writer businesses, are legally operating. But, there are general rules and regulations they have to adhere to. The laws vary based on how they cash daily, such as cashing government-issued checks. They are classified as “regulated” when they deposit a minimum of $1,000 daily.
In these situations, the business that cashes checks, like convenience stores, must abide by the cashing of checks. If they don’t follow the regulations and rules that were established and enforced, they may be subject to penalties or even be required to close their company for the rest of their lives.
Is it possible to cash a personal check?
Yes, most check cashing establishments, including convenience stores and specialized check writer businesses, will cash personal checks. However, they may have certain requirements and fees associated with the service to ensure the check is legitimate and the funds are available.
Check cashing companies typically can accept checks from personnel. It is also true for Checking with PLS. Each business is unique, and it is generally difficult to tackle this issue. You must talk to an individual in the company directly or call them.
Personal checks are less popular than they once were, but millions use individual checks. It makes cashing checks a viable alternative for those with no bank accounts. Additionally, some check cashing companies can also handle two-party personal checks, providing added convenience for the users.
Check Cashing for Free. Is it possible?
Yes, there’s a way to deposit an unpaid check, but you will likely not be able to cash it through PLS Checking or any other similar solution. The cash checking cost is more than just making more money for the company. It also helps protect the cash from theft, like fake check scams. Most businesses do their best to avoid the possibility of fraud.
How do you locate a place near you?
Many grocery stores offer check cashing services at their customer service counters. You can also search online for check cashing locations in your area or use a mobile app to find the nearest location offering this service.
The easiest way to find PLS check cashing station PLS checking station to cash kinds of checks is by searching for a location via the PLS website.
If you’re in one of the states with cash-checking stores, you can also find one close to your home. They are constantly growing, so you could soon find one near your house even if you don’t possess one.
Below are statistics on PLS Check Cashing:
|Number of locations||1,000+|
|Annual revenue||$1 billion+|
|Average check cashing fee||$2|
|Average money order fee||$1.50|
|Average bill pay fee||$5|
|Average prepaid debit card fee||$3|
Closing PLS Paying with Tax refund checks
Check cashing with PLS can allow all to get instant cash to exchange checks, including tax refund checks. PLS also offers the option to receive cash on a prepaid debit card for added convenience. One of the most significant advantages of this particular option is that you don’t need a bank account to access this service.
Utilizing Mobile Deposit with PLS
Another way to cash your checks with PLS is through their mobile deposit feature. It lets you deposit your checks directly into a designated account or onto a prepaid debit card, making it a quick and convenient option for customers.
However, it comes with an expense. The price for PLS check cashing is one percent of the check’s total amount plus $1. This fee generates revenue for PLS and ensures their safety. The cost may seem minimal, but it could add quite a bit throughout. PLS check cashing accepts various checks, including Social Security checks, government benefit checks, and insurance checks.
In the final analysis, PLS check cashing provides outstanding service to people who need this service. They are constantly expanding their services and are growing rapidly. In addition to check cashing, they also offer services like debit card issuance for convenient access to funds.
Frequently Asked Questions
How does the PLS check cashing process work, and how can I receive instant cash for my checks?
PLS offers instant check cashing for eligible checks. Bring valid ID, sign the check, and get immediate cash. Payroll and government checks under $1,000 cash instantly. Higher amounts take 1-2 days to clear before getting cash.
What types of checks can I cash at PLS, and are there any restrictions on the checks they accept?
PLS cashes payroll, tax refund, stimulus, government, and many types of personal checks up to $5,000. Restricted items include traveler’s checks, temporary checks, and some money orders. Check-cashing policies vary by state.
What are the fees associated with using PLS for check cashing, and are there any ways to reduce these fees?
PLS charges 1-10% of a check’s face value depending on type, with typical fees of 3-5% for payroll or government checks. Joining their Gold Club for a monthly fee reduces check cashing fees.
Do I need to have a bank account to cash checks at PLS, or can I use their services without one?
No, a bank account is not required to cash checks at PLS. You can cash checks and receive immediate funds as long as you have valid ID and meet eligibility requirements.
Are there any additional services or benefits provided by PLS when cashing checks, such as prepaid cards or money transfer options?
Yes, PLS offers prepaid debit cards to receive funds, bill pay services, money orders, and money transfers through partners. Check cashing customers can sign up for additional financial services.