Although it may not seem like it, the season of tax refund in the United States it is -practically- just around the corner. If you are like most mortals -who hate and love taxes at the same time- you’ll know your refund check is near. This is not a problem: the IRS promptly refunds to taxpayers those taxes that they have paid more or the money that belongs to them for concept of credits and refunds. Generally, it is deposited in a bank account, but how to collect the tax refund without one?
There are people without a bank account who have no idea how to collect their refund. If you identify with this conclusion, you’ll be glad to know that all is not lost.
You can collect taxes in the United States without a bank account. How? Well, among the many options you have, we could highlight the following: use a check cashing establishment or get rid of those excessive fees and opt for a cheaper and safer alternative, such as PayPal, for example.
After all, check cashing establishments do not usually have very affordable rates. What’s more, walking around with thousands of dollars in cash might not be a good idea, especially if you live in a dangerous neighborhood.
How to collect taxes in the United States without a bank account?
Do you want to avoid charging excessive fees and keep your cash safe and in your pocket? Here are some ways to do it. With them, you can collect taxes in the United States without a bank account and without having to lose a few bucks along the way.
Depositing the refund on a prepaid card
One of the easiest and fastest ways to collect your taxes without a bank account is through a prepaid card. You may not be familiar with this option, but the truth is that these cards will allow you to receive direct deposits from the IRS.
Note: What we like about prepaid cards is that they are easy to apply for and don’t require credit. In fact, many of them won’t even ask for your Social Security number or payment of an annual maintenance fee. Discover several of the options available in our guide “The best prepaid cards ”.
Account providers such as Bluebird by American Express and Walmart allow their prepaid cardholders receive direct deposits for an attractive rate. Which one? Well, nothing more and nothing less than $0.
Bluebird is available to all United States residents who are 18 years of age or older. The company also offers a family card that allows four people from the same household to access the account.
Remember: The Netspend Prepaid Card could also be a good option for you because it allows direct deposits of IRS refunds as well as other refunds like your paychecks, certain fringe benefits, etc.
Depositing the refund into an app
Another option to consider is the use of the PayPal app. The PayPal app will allow you to deposit your refund check in a simple way. How? Just by taking a photo of the physical check.
If you want to access the funds immediately, you will need to commit to pay 1% extra surcharge fee. However, if you are willing to wait 10 days to enjoy your refund money, you will not have to pay a penny.
Ingo Money is another application that will allow you to collect taxes in the United States without having a bank account. For the payment of a fee of 2% (or a minimum of $5), you can have your refund turned into an Amazon gift card, a prepaid card, or even pay off your credit card.
Note: If you prefer, we give you another option. With Ingo Money you can choose to make a withdrawal of $1,000 or less at any MoneyGram branch.
Cashing the retail refund check
If you don’t want your refund to go to an electronic account or prepaid card, a good option to consider would be the retail check cashing. This alternative is far less expensive than going to a check cashing location and is generally much safer because each parking lot has a strong surveillance system.
Recommendation: Although the security of retail collection points is very high, we recommend that you make sure that you keep your cash discreetly and also take all the necessary security precautions to avoid being the victim of a robbery by hand navy.
So far, everything seems perfect. But, Where can you cash your checks at retail? Let’s look at some examples:
- Albertson’s: Rates at Albertsons vary by location. They will only allow you to change up to $1,000.
- Kroger: At Kroger you will have to pay $3 for checks up to $2,000 or $5.50 for amounts ranging from $2,000 to $5,000.
- Walmart: Walmart will charge you $4 for checks of $1,000 or less and $8 for checks of more than $1,000.
Note: Large supermarkets, such as Safeway, Publix, and Food Lion also cash checks; but rates and limits vary based on your location. If you would like to use any of these options, we recommend that you call the establishment closest to your location.
Opening a bank account without fees
Of course, the easiest way to collect your tax refund in the United States is to open a bank account. Think that, in this way, you can request it through direct deposit or opt to deposit the IRS check in person. So why don’t people open an account and forget about everything else? Possibly, for the collection of maintenance fees.
However, it is important that you know that you will not always have to pay a few dollars to have a bank account. In fireplace, for example, you will be able to open your account with few requirements – being a legal resident of the United States of 18 years or older – and you will not have to pay a monthly or annual maintenance fee. The best? You won’t have to pay overdraft fees.
You can open your bank account on Chime in less than 5 minutes and then use this information – your bank account number and routing number – to fill out the direct deposit form on your tax return.
Using any of the options mentioned above you can collect your taxes in the United States quickly, cheaply and safely. Conclusion? You do not have to delay the collection of your refund. Even without a bank account, you will be able to do it without problems.