A guide to cheque cashing

Cheque cashing services offer instant access to funds, for a fee.

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Cheque cashing services provide access to funds within minutes rather than the usual three to five days to clear at the bank. Find out how it works and what to look out for below.

Financial hardship

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It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

Which lenders can cash my cheque?

The following lenders have branches and offer cheque cashing services:

  • Cash Converters
  • OK Money
  • Cash Stop
  • Money Plus
  • Money3

What is cheque cashing?

Cheques usually take three business days to clear with banks, but cheque cashing services can clear a cheque within minutes. This service is usually provided in exchange for a small fee, as the lender providing the service is taking on a risk by forwarding the money before the cheque clears.

How does it work?

If someone has a cheque that needs clearing immediately, cheque cashing offers the option of paying a fee to bypass the normal three-day waiting period. There's a waiting period because a cheque basically acts like written instructions between two financial institutions and the waiting period gives both institutions time to make sure the payment is made correctly.

Lenders that provide cheque cashing services are essentially forwarding the money with no guarantee that the cheque will not be dishonoured. Cheques are dishonoured for a number of reasons, although a common one is that there are insufficient funds in the payer’s account. Cheque cashing providers will forward the money for a fee, which is usually a percentage of the cheque amount, as they wait for the cheque to clear. Applicants must provide 100 points of identification.

Types of cheques that can be used

Different service providers will have different criteria, but may generally honour the following types of cheques:

  • Business cheques
  • Company cheques
  • Bank cheques
  • Account payee cheques
  • Government cheques
  • Benefit cheques
  • Gaming and lottery cheques
  • Insurance cheques

Options for cashing a cheque

  • Take the cheque directly to the bank/branch and request the money to be deposited in an account OR deposit the cheque at the bank's ATM. Both of these options mean there will be a wait for the cheque to clear which can range from three to five days. If the funds are required urgently there are options to request a special clearance but this may incur a fee and will depend on the bank.
  • Alternatively, you can take the cheque to be cashed at an instant cheque cashing retailer, which may provide instant access to the funds but will also incur a fee.

Pros and cons of cheque cashing


  • Near-instant access to money. The cheque amount will be available immediately, instead of waiting three days for it to clear at the bank.
  • No bank account required. Cheques can be paid out in cash, which means a bank account isn't required to receive the money.
  • Transparent fees. Cashing cheques does cost a fee, but this will be upfront.
  • Convenience. Users don't have to travel to a bank branch to cash the cheque.


  • High fees. This may be a percentage of the cheque amount or a fixed amount. The fee will vary between different providers and can often be quite high.
  • Restrictions. Some providers may refuse certain types of cheques or have limits on the amounts that can be cashed out.

How to compare cheque cashing services

Cheque cashing providers can be a convenient option for you to consider if you need a quick turnaround time for your cheque, but it’s important you choose the right provider. Here are a few things to keep in mind when comparing your options:

  • Turnaround time. As this is likely to be the main reason you’re opting for cheque cashing services, you should check how quickly you can expect to receive the money. Some lenders may be able to provide you the money within a few minutes, while others may take longer.
  • Fees and charges. All cheque cashing providers are likely to charge fees, but the question is how much? Some may charge you a flat fee, while others may charge you a percentage of the cheque amount.
  • Restrictions. Some providers may have restrictions as to the kinds of cheques they'll cash, whether they be business, personal, government or another type. They're also likely to have limits on the cheque amount they're able to cash. Check these restrictions before you apply.

What to look out for when using a cheque cashing service

For someone considering using a cheque cashing service it's important to understand all the associated costs. These services can be very expensive so it's important to weigh up just how important it is to have access to the funds immediately rather than waiting a couple of days for it to clear via the bank.

Alternatives to cheque cashing


Nimble Short Term Loan

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  • Turnaround time: 1 hour - conditions apply
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Nimble Short Term Loan
  • Borrow up to $2,000
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Go to site More info

A payday loan may be alternative to cheque cashing if you absolutely require access to money straight away. Payday loans are short term loans and can provide a fast turnaround on cash if needed. However, it's important to know that payday loans are usually high cost and must be paid back within a relatively short time frame, so compare all the options before applying.

Updated February 26th, 2020
Name Product Maximum Loan Amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Nimble Short Term Loan
62 days to 3 months
1 hour - conditions apply
15% of loan amount + 3% of loan amount each month
Finder Exclusive: 25% discount on the establishment fee (now 15%) and monthly fee (now 3%)
A loan up to $2,000 with terms up to 62 days to 3 months. Centrelink cannot be your primary source of income.
Sunshine Short Term Loans
9-12 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $2,000 that you repay over 9-12 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Wallet Wizard Smart Loan (Up to 2K)
Up to 2 years
3 hours - conditions apply
Apply for up to $2,000 and be able to access your approved loan as a convenient line of credit.
Fair Go Finance Small Loan
3-12 months
1 business day
Establishment fee from 20% of loan amount + monthly fee from 4%
A small loan between $500 and $2,000 that can be funded in 24 hours.
Cash Converters Personal Loan
up to 12 months
Within 48 hours
20% establishment fee + 4% monthly fee
Cash Converters offers this loan from $400 that gives you up to 12 months to repay.
Speckle Small Loan
3 to 12 months
1 business day
10% of loan amount + 2% of loan amount each month
A small loan up to $2,000 from a lender backed by NAB. Transparent eligibility criteria and competitive costs.

Compare up to 4 providers

Frequently asked questions

Are cheque cashing services safe?

Generally, it's safe to use a cheque cashing service, but it's important to be clear on what all the fees are before committing to the service as prices can vary dramatically.

How much as the fees?

This will vary depending on the service provider. Some charge a flat fee while others will charge a percentage of the cheque amount.

What's needed to use the service?

This will also vary by provider, but generally, identification is required. The cheque, personal identification and if it's a cheque being cashed on behalf of a business or company, a business registration may also be required.

Picture: Shutterstock

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20 Responses

  1. Default Gravatar
    GoranJanuary 16, 2020

    I just sold my car to a car dealer who gave me a cheque where can I cash it in to have the funds available ASAP coz I have some outstanding bills to pay

    • Avatarfinder Customer Care
      NikkiJanuary 17, 2020Staff

      Hi Goran,

      Thanks for your comment and I hope you are doing well. I understand your position. You can cash your cheque from any providers on our list above but make sure you have read the guide on how to cash your cheque from them. To read more information about them click the MORE INFO button by clicking the brand logo. The fastest turnaround time on the list shows 30 minutes. You can review the provider with the fastest turnaround time as you need the funds ASAP. To get started, click the GO TO SITE button on the right part of the page.

      Hope this helps and feel free to reach out to us again for further assistance.


  2. Default Gravatar
    JayApril 14, 2019

    I want to cash my cheque but I’m abit worried that I got asked to send a picture message of my license and the cheque ??
    Shouldn’t it all just get handled in person to avoid stressing that it might be a scam?

    • Avatarfinder Customer Care
      JohnApril 15, 2019Staff

      Hi Jay,

      Thank you for reaching out to Finder.

      It would be advisable to have the cheque cashed your self to avoid scams from happening. Generally, a cheque can be cashed by someone else on your behalf by using a valid government ID as well as your endorsement signature at the back of the cheque. Hope this helps!


  3. Default Gravatar
    JohnSeptember 1, 2018

    I have a cheque if $70,000 from the Bank of Melbourne. I want to cash this within a day. What should I do as I bank with CBA?

    • Avatarfinder Customer Care
      JeniSeptember 1, 2018Staff

      Hi John,

      Thank you for getting in touch with finder.

      Since you are with CBA while the cheque is from Bank of Melbourne, I am afraid that you have to deposit the cheque with CBA due to its amount. Cheques deposited into your CBA account will normally be available within 3 working days but some cheques may take longer.

      It is best to contact CBA directly regarding this matter.

      I hope this somewhat helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!


  4. Default Gravatar
    RyanNovember 7, 2016

    I won $1400 on the poker machines while I was in Victoria now I’m back in perth I want to know if there are any institutions who can cash prize cheques as I need the money ASAP?

    • Avatarfinder Customer Care
      DeeNovember 8, 2016Staff

      Hi Ryan,

      Thanks for your question.

      On the above page, we have listed some of the lenders that offer cheque cashing services. You may want to check out if any branch is available near you.


  5. Default Gravatar
    JulieAugust 13, 2016

    I have been paid $786with a cheque that I’m assuming is a personal cheque as it doesn’t have the company name on it and I desperately need the funds today can you place help me find the closest place I can take it too as thus us my first time in this situation. I am at durack in Brisbane Queensland. Thanks

    • Avatarfinder Customer Care
      ElizabethAugust 16, 2016Staff

      Hi Julie,

      Most banks will be able to cash your cheque for you, so if you have a bank branch location that’s convenient to you can cash it there. Local cheque cashing services include The Cash Store at Acacia Ridge, Cash Smart in Logan Central Plaza and ugo at Logan Central Plaza.

      I hope this helps,


  6. Default Gravatar
    KathrynApril 27, 2016

    Can you cash a UK cheque quickly?? My bank takes 7 weeks!

    • Avatarfinder Customer Care
      ElizabethMay 2, 2016Staff

      Hi Kathryn,

      Just to clarify, you’ve come through to finder.com.au, a financial comparison service, but I can provide you with some information on this. Most banks will be able to cash an international check for you. However, if you don’t have an account you will usually have to pay a fee. You could also try lenders that provide cash checking services such as Cash Converters and Needy Money.

      I hope this has helped,


  7. Default Gravatar
    GeorgeFebruary 25, 2016

    I have personally chequer can u cash it at this time in the morning

    • Avatarfinder Customer Care
      ElizabethFebruary 25, 2016Staff

      Hi George,

      Some banks offer 24/7 cheque cashing services in-branch. You can check with your bank if it offers this service. If it doesn’t, you may want to try Googling “24-hour cash cheque services” to find local business that may be able to assist.



  8. Default Gravatar
    JasonJanuary 19, 2016

    Where and can I cash a cheque 24 hrs from the reserve Bank?

    • Avatarfinder Customer Care
      ElizabethJanuary 20, 2016Staff

      Hi Jason,

      This depends on where your are located. Some banks offer 24/7 cheque cashing services in-branch, so you may want to check with your bank if it offers this service. If it doesn’t, you may want to try Googling your location and “24-hour cash cheque services” to find local business that may be able to assist.



  9. Default Gravatar
    danquahAugust 20, 2015

    Please I want to start working for an online company which will pay me by cheque in my mail.how do I cash the cheque?

    • Avatarfinder Customer Care
      ElizabethAugust 20, 2015Staff

      Hi Danquah,

      Thanks for your question.

      You can find a cheque cashing service if you’re looking to cash your cheque with your bank. There are a few of these services available, two of which are Needy Money and Cash Converters.

      I hope this has helped.



  10. Default Gravatar
    paulSeptember 12, 2014

    I have RSL club cheque can I cash it 24hours anywhere?

    • Avatarfinder Customer Care
      ShirleySeptember 15, 2014Staff

      Hi Paul,

      Thanks for your question.

      You’ll need to check the policies of the RSL club you received the cheque from. In most cases all cashed cheques are to be entered into a ‘cheque cashing register’ located within your RSL.

      All the best,

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