Does Walmart Cash Canadian Checks In 2022? (Full Guide)
Yes, Walmart does cash Canadian checks in 2022 at their in-store MoneyCenters across the United States. However, there are specific requirements surrounding the check currency, issuing bank, identification, and more that customers should understand.
As an experienced ecommerce business owner, I often receive payments from Canadian customers that I need to cash and reinvest into inventory and other operating expenses. That‘s why I decided to dig into the details on Walmart‘s Canadian check cashing policies so I could take advantage of this convenient service.
In this comprehensive guide, I’ll share everything you need to know as a customer or business owner about cashing Canadian checks at Walmart.
Table of Contents
- Overview of Cashing Canadian Checks at Walmart
- Requirements for Cashing Canadian Checks
- Step-by-Step Process
- Limits, Fees, and Fine Print
- Tips for Business Owners Cashing Canadian Checks
- Top Alternative Locations Beyond Walmart
- Summary: What We Learned
Overview of Cashing Canadian Checks at Walmart
With over 4,700 retail locations across the United States, Walmart makes cashing checks fast and convenient through their MoneyCenter financial services.
According to Walmart‘s official policy, they do cash some Canadian checks issued in U.S. dollars (USD) from approved banks with cross-border locations. This includes major banks like TD, RBC, Scotiabank, and more.
As a busy ecommerce business owner, having quick and reliable check cashing options is extremely valuable for cash flow and liquidity. Whenever I receive wholesale payments or customer checks from Canada, the ability to cash them locally at Walmart saves significant time and logistical headaches.
The funds can then quickly be used to purchase new inventory, pay staff, or reinvest into other business operations. The speed and convenience gives my business a competitive advantage.
That said, Walmart does have specific requirements, limits, and fees related to Canadian checks that customers should be aware of. I’ll cover all the key details in this guide.
Requirements for Cashing Canadian Checks
To cash a check from Canada at Walmart, there are three key requirements:
Government-issued Photo ID – This includes a passport, driver‘s license, state ID, or other approved photo identification. Permanent residents can bring alternate IDs.
Qualifying Bank Check – The Canadian check must be issued in U.S. dollars (USD) from a cross-border bank with locations in both Canada and the U.S. Qualifying banks include TD, RBC, Scotiabank, CIBC, BMO, and more.
Social Security Number – U.S. citizens will need to provide a social security number for the check cashing process. Foreign nationals or permanent residents without an SSN can bring alternate IDs.
Ensuring you have these three requirements covered makes the Canadian check cashing process quick and seamless. Fortunately, as a U.S. ecommerce business owner, I already have my driver‘s license and SSN ready to go whenever I need to visit Walmart to cash checks from Canadian suppliers or customers.
Step-by-Step Process
Here is an overview of what to expect when cashing a Canadian check at any Walmart MoneyCenter location:
Arrive at Walmart and locate the customer service desks to find the MoneyCenter. Over 90% of Walmart Supercenters have a MoneyCenter on premises.
Wait in line or take a number for the next available MoneyCenter associate. Average wait times range between 10-20 minutes.
When called, approach the MoneyCenter counter and notify the associate you need to cash a Canadian check. Provide your government-issued photo ID and SSN documentation.
Hand the Canadian check to the associate to review. They will verify:
- The check is issued in U.S. dollars
- The check comes from a qualifying cross-border bank
- The check amount does not exceed the $5,000 cashing limit
Once verified, the check amount will be entered into the MoneyCenter computer system and go through an electronic verification process powered by TeleCheck or Certegy. This takes 1-2 minutes.
Upon approval, the associate will deduct any check cashing fees from the total (outlined in the next section). They will provide the remaining cash balance to complete the transaction.
And that‘s it – the entire check cashing process at Walmart typically takes 15-20 minutes total. It‘s extremely quick and convenient as a business owner compared to waiting days for checks to clear through my bank.
Limits, Fees, and Fine Print
While Walmart does provide convenient Canadian check cashing, there are some limitations, fees, and fine print to be aware of:
Maximum Check Amount – Walmart will cash Canadian checks up to $5,000. Any single check above this amount will be denied. This limit resets after every successful transaction.
Maximum Cash Back – The maximum amount of cash you can receive from cashed checks per day/year is:
- January 1 – April 15: $7,500
- April 16 – December 31: $5,000
Per Transaction Limit – Each individual check cashing transaction is capped at $1,000. If cashing multiple checks in one visit, each one can only be $1,000 maximum.
Check Cashing Fees – Walmart charges a flat percentage fee based on the check amount:
| Check Amount | Fee Charged |
|---|---|
| Up to $1,000 | $4 |
| $1,001 – $5,000 | $8 |
These fees apply to both Canadian and U.S. checks. There is no extra fee for cashing Canadian checks.
MoneyCard Load Option – Customers can opt to load the remaining check funds after fees onto a Walmart MoneyCard prepaid debit card for $3 rather than taking the cash. The MoneyCard funds can then be spent anywhere Visa is accepted.
Limit 5 Transactions Per Day – Walmart restricts check cashing to 5 transactions per day per customer as a fraud prevention measure. Be sure to budget appropriately if cashing multiple Canadian checks in one visit.
As a business owner, staying aware of these limitations and fees allows me to plan my finances accordingly around my Canadian check payments. The $5,000 daily limit is reasonable for most wholesale or supplier checks I need to cash.
Tips for Business Owners Cashing Canadian Checks
If you operate a U.S. business earning payments from Canada, here are my top 5 tips for smoothly cashing Canadian checks at Walmart:
1. Track exchange rates – Monitor USD to Canadian dollar exchange rates so you understand the true value of checks. Exchange rate apps help, and ask suppliers to note the converted amount.
2. Communicate payment details – Clearly communicate with Canadian clients and suppliers that checks must be in USD from a qualifying cross-border bank to be cashed.
3. Balance frequency and amounts – Given the $5k daily limit, decide whether to cash one large check or make multiple smaller trips. Plan totals and timelines accordingly.
4. Dedicate secure storage – Keep cashed Canadian check funds secure on premises until ready to use for inventory orders, payroll, etc. Don‘t leave large cash amounts unattended.
5. Record for taxes – Log each Canadian check amount, date, source, and usage for accounting. This provides helpful records come tax season.
Following these tips will make cashing Canadian checks through Walmart‘s MoneyCenters as efficient as possible for your ecommerce or other U.S. based business.
Top Alternative Locations Beyond Walmart
While Walmart is my top choice for convenient Canadian check cashing, there are other viable options to consider:
Local banks – Most U.S. banks will cash Canadian checks for account holders, though some may place longer holds on foreign funds. There is also the convenience factor of having to visit your nearest branch.
Online payment processors – Services like PayPal, QuickBooks Payments, and Stripe can accept Canadian checks remotely by scanning/uploading the check through their apps. Transfers to U.S. bank accounts take 1-2 weeks.
Check cashing stores – Businesses like ACE Check Cashing, Check Center, and Check ‘n Go offer Canadian check cashing but have higher fees around 5-10% of the check amount.
Grocery/convenience stores – Some major chains like Albertsons, Kroger, and 7-Eleven will cash government-issued Canadian checks up to $5,000 for a small fee. Limited locations.
For the fastest access to funds and lowest fees, Walmart remains my go-to when I need to cash Canadian checks for my ecommerce business. But weigh all your options based on convenience, limits, fees, and speed of access to the cash.
Summary: What We Learned
In summary, Walmart does cash many Canadian checks written in USD at over 4,700 MoneyCenter locations across the U.S.
As a busy ecommerce business owner, I found Walmart‘s Canadian check cashing services to be incredibly convenient for accessing supplier payments and customer checks faster to reinvest in inventory and other business expenses.
To cash a Canadian check at Walmart, you‘ll need valid ID, an SSN, and a check issued in USD from a qualifying cross-border bank. Transactions are fast, with funds available immediately after nominal check fees are deducted.
Just be aware of the $5,000 daily check limit, transaction limits, and maximum annual cash out amounts. Weigh Walmart against other check cashing options like banks and payment apps based on your specific business needs and convenience.
With the information provided in this guide, you can now easily take advantage of Walmart‘s Canadian check cashing services in 2022 and beyond.
