The Complete Guide to Cashing Canadian Checks at Walmart

If you‘ve ever found yourself holding a check from a Canadian bank and wondering where you can cash it in the United States, you‘re not alone. Many people receive Canadian checks for a variety of reasons – maybe you work for a Canadian company, have Canadian clients or customers, or receive gifts or payments from friends or family in Canada. Whatever the reason, if you need to convert those Canadian dollars to US currency, you have a few options.

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One of the most convenient and affordable places to cash Canadian checks is at your local Walmart store. In this comprehensive guide, we‘ll cover everything you need to know about Walmart‘s Canadian check cashing services, including:

  • What types of Canadian checks Walmart accepts
  • Which Canadian banks are eligible
  • Dollar amount and frequency limits for check cashing
  • Fees for the service
  • Required identification and documentation
  • Step-by-step check cashing process
  • Pros and cons of using Walmart to cash checks
  • Alternative options for cashing Canadian checks
  • Expert tips for avoiding check cashing scams

By the end of this guide, you‘ll be fully informed and prepared to cash your Canadian checks at Walmart with ease. Let‘s get started!

Can You Cash Canadian Checks at Walmart?

The short answer is yes, Walmart does cash Canadian checks at most of its stores in the United States. According to Walmart‘s corporate website, around 4,000 out of their 4,700 US store locations have a dedicated MoneyCenter that provides check cashing and other financial services. For the Walmart stores without a MoneyCenter, you can still cash checks at the customer service desk.

Walmart stores cash a huge volume of checks – the company reports that they process around 200 million money services transactions each year, including check cashing, money orders, bill payments, and more. So they are well equipped to handle Canadian checks along with domestic ones.

However, there are some restrictions on the types of Canadian checks Walmart will accept as well as the check amounts allowed, which we‘ll detail further in the following sections.

What Types of Canadian Checks Does Walmart Cash?

Walmart will cash the following types of Canadian checks, as long as they meet certain other requirements:

  • Payroll checks from your employer
  • Government checks like tax refunds or benefits
  • Insurance settlement checks
  • 401(k), pension, and other retirement distribution checks
  • Business checks from a Canadian company or client

They will not cash Canadian personal checks or starter/counter checks. The check must also be issued in US dollars (USD), not Canadian dollars (CAD). If your check is in CAD, you‘ll first need to get it converted at a Canadian bank branch before attempting to cash it at Walmart.

Which Canadian Banks Are Eligible for Check Cashing at Walmart?

In addition to the type of check, Walmart also has restrictions on which Canadian banks‘ checks they will cash. To be eligible, the check must be drawn on a Canadian bank that has physical retail branches in both Canada and the United States.

Some major Canadian banks that meet this criteria include:

  • TD Bank
  • RBC Bank
  • BMO Harris Bank
  • CIBC Bank USA
  • Scotiabank

This allows Walmart to more easily verify the legitimacy of the check and process it through the US banking system. If you have a check from a smaller Canadian bank or credit union without a US presence, Walmart may not accept it.

To avoid making a wasted trip, it‘s always a good idea to call your local Walmart store and ask if they will cash a check from your specific Canadian bank before heading over to cash it.

Walmart‘s Limits for Cashing Canadian Checks

Walmart also sets limits on the dollar amount of checks they will cash, both for a single check and for daily/monthly transactions per customer.

The standard single check limit at Walmart is $5,000. During tax season (January to April), they increase this limit to $7,500 to accommodate larger tax refund checks. For any check over $1,000, you‘ll need to provide two forms of valid government-issued ID, such as a driver‘s license and passport.

There may also be a limit on the number of checks you can cash in a single day or month, but this varies by store location. Your Walmart MoneyCenter associate can tell you their store‘s specific policy.

Here‘s a quick reference table of Walmart‘s check cashing limits:

Check Amount ID Required Exceptions
$0.01 – $1,000 1 form of ID N/A
$1,000.01 – $5,000 2 forms of ID Limit raised to $7,500 from Jan-April
$5,000.01+ Checks over $5,000 ($7,500 in tax season) not accepted N/A

Fees for Cashing a Canadian Check at Walmart

Walmart charges a small fee for cashing checks, which is deducted from the check total before you receive your funds. This fee helps cover the costs of processing the check and mitigates some of the risk to Walmart of accepting checks.

The fees for cashing Canadian checks are the same as for cashing other accepted check types:

  • For checks up to $1000: Maximum fee of $4
  • For checks $1,001 to $5,000: Maximum fee of $8

So for example, if you have a $800 check, Walmart will deduct the $4 fee and give you $796 in cash. If you have a $1,500 check, they‘ll deduct $8 and give you $1,492.

If you cash multiple checks in a single transaction, the fees are charged separately for each check based on the check amount tiers.

Compared to some other check cashing services, Walmart‘s fees are quite reasonable. Here‘s a quick comparison:

Check Cashing Service Fees for Checks Up to $1,000 Fees for Checks $1,000-$5,000
Walmart $4 max $8 max
Kroger $4.50 for checks up to $2,000; $7.50 for $2,000-$5,000 $7.50 max
7-Eleven 0.99% – 1.99% of check amount 0.99% – 1.99% of check amount (no max)
Check Cashing Store 1% – 12% of check amount 1% – 12% of check amount (no max)

As you can see, Walmart‘s flat fee structure and relatively low rates make them one of the most affordable places to cash checks compared to grocery stores, convenience stores, and especially standalone check cashing businesses that often charge a percentage of the total check amount.

ID Requirements for Cashing Canadian Checks at Walmart

To cash any check at Walmart, you must provide at least one form of valid, government-issued photo ID. Acceptable forms of ID include:

  • US driver‘s license
  • US state ID card
  • US passport
  • US military ID
  • Tribal ID card

If your check is over $1,000, you must provide two forms of ID from the list above. Walmart is very strict on the ID requirements for check cashing, so make sure you bring the proper documents or they will refuse to cash your check.

The Walmart Canadian Check Cashing Process

If you have an eligible Canadian check, the proper ID, and understand the fees, you‘re ready to get your check cashed at Walmart! Here‘s a step-by-step look at how the process typically goes:

  1. Go to the Walmart MoneyCenter or customer service desk at your local Walmart store. You may want to call ahead to check their hours, as they are often different from regular store hours.

  2. Present your check to the associate at the counter and let them know you‘d like to cash it. They will ask for your ID and may ask a few questions about the check.

  3. The associate will examine the check, enter some details into their computer, and begin their verification process. This involves running the check through a third-party check verification system to attempt to determine if the check is legitimate and likely to clear. For Canadian checks, this process can take a bit longer than for domestic checks.

  4. If the check passes the verification process, the associate will ask if you want to load the funds onto a Walmart MoneyCard or take it all in cash. There is a $3 fee to load money on the card.

  5. To complete the transaction, the associate will have you sign the back of the check and place your fingerprint on the front as an added security measure.

  6. You‘ll then be asked to sign a paper receipt confirming the transaction and the amount.

  7. The associate will give you your cash (and Walmart MoneyCard, if requested) and you‘ll be all set!

The whole process is usually relatively quick and easy, taking 5-10 minutes on average if there are no issues with your check. Some stores may have longer wait times than others depending on how busy they are.

If your check is declined during the verification process, the associate will let you know and may provide a reason why, such as a problem with the check information or suspicion of fraud. You can ask them to try running the check again, but if it‘s declined a second time, you‘ll need to figure out an alternative method for cashing it.

Pros and Cons of Cashing Canadian Checks at Walmart

Now that you know the ins and outs of how to cash a Canadian check at Walmart, let‘s take a look at some of the major advantages and disadvantages of using their service:

Pros

  • With over 4,700 locations in the US (more than 4,000 with dedicated MoneyCenters), Walmart is very convenient and accessible for most people. 90% of the US population lives within 10 miles of a Walmart store.
  • Walmart‘s check cashing fees are lower than many other places, especially check cashing stores that charge a percentage of the check amount.
  • In most cases, you can get your money in just a few minutes since Walmart cashes checks directly rather than placing a hold on the funds.
  • Walmart has extensive hours for check cashing, with most MoneyCenters open from 8 AM to 8 PM or later, 7 days a week. This makes it easy to cash a check on evenings and weekends when banks are closed.
  • If you frequently cash checks at Walmart, their low fees and cash-back rewards on the Walmart MoneyCard can add up to significant savings over time.

Cons

  • Walmart has a limited list of Canadian banks they‘ll accept checks from, so your check might not be eligible.
  • The $5,000 check limit may be too low for some people‘s needs, especially businesses with large Canadian payments.
  • You‘ll usually have to pay a fee ($4 or $8), unlike if you have an account at the bank the check is drawn on.
  • Some people are uncomfortable carrying around large amounts of cash after cashing their check.
  • Wait times can be long at Walmart MoneyCenters, especially during peak hours like weekends and holidays.

Overall, if you have a Canadian check that meets Walmart‘s eligibility requirements and you‘re looking for a convenient, affordable place to cash it, Walmart is a great option for many people. But it‘s not right for everyone, so consider the pros and cons for your unique situation.

Alternatives to Cashing Canadian Checks at Walmart

If you decide that Walmart isn‘t the best choice for cashing your Canadian check, or if you have a check that doesn‘t meet their requirements, here are a few other options to consider:

  • Your Local Bank or Credit Union
    If you have a checking account at a US bank or credit union, check with them first to see if they will cash your Canadian check. Many will, although they may charge a fee or place a longer hold on the funds than Walmart. This is a good option if you‘re not in a rush for the money and want to skip the extra trip to Walmart.

  • Check with the Issuing Bank
    If the Canadian bank that issued your check has any branches in the US, you can try cashing it there. For example, TD Bank and Bank of Montreal both have retail locations in some US states. The bank may be more willing to cash their own check even if you‘re not an account holder there.

  • Grocery Stores and Convenience Stores
    In addition to Walmart, some major grocery stores like Kroger and Publix cash checks, as well as convenience stores like 7-Eleven. Their fees and accepted check types vary, so call ahead for their policy on Canadian checks.

  • Check Cashing Stores
    As a last resort, you can try a check cashing store that specifically caters to cashing many types of checks, including foreign ones. Their fees are much higher (often a percentage of the check amount), but they have more relaxed eligibility requirements if your check was declined elsewhere.

Expert Tips for Cashing Canadian Checks

To wrap up, here are some expert tips for ensuring your Canadian check cashing process goes smoothly and safely:

  • Verify the check before attempting to cash it. Look for red flags like misspellings, missing information, or inconsistencies that could indicate a fraudulent check.

  • Understand the USD to CAD exchange rate so you know how much your check is actually worth in US dollars before cashing it. You can find the current exchange rate on Google.

  • If you‘re not comfortable carrying around a lot of cash, consider other options like depositing the check in your bank account (even with a hold), or loading it onto a prepaid card.

  • Don‘t attempt to cash a Canadian check that‘s made out to someone else or looks altered in any way, as this is usually a scam. Only cash checks issued directly to you.

  • If you receive a Canadian check that you weren‘t expecting or that seems too good to be true, be very cautious about attempting to cash it. Scammers often use fake foreign checks to steal money or personal information.

With the information and tips outlined in this guide, you‘re now well equipped to cash Canadian checks at Walmart or explore other options if needed. While the process requires a few extra steps compared to cashing a regular check, it‘s still very doable and Walmart makes it as convenient and affordable as possible. Happy check cashing!