Noncustomer Check Cashing Fees for Tax Checks

Answered by:

Question:

We cash tax refund checks for noncustomers and charge a fee of 3% of the check amount, or $5, whichever is greater. I am looking for guidance on the fees we can charge.

Answer:

This would be a state issue, if it is addressed at all. There have been attempts to regulate fees on cashing government checks but they have been unsuccessful in the free market.

First published on BankersOnline.com 4/19/04