Yes, Walmart does cash two-party (joint) checks in 2022 at Money Centers in most stores. As an experienced FBA seller, I know how valuable Walmart‘s check cashing services can be for managing your business and personal finances.
In this comprehensive guide, I‘ll share everything you need to know about cashing multi-party checks based on my years as a top Amazon seller and financial analyst.
A Quick Primer: What is a Two-Party Check?
Before diving in, let‘s quickly review what makes a two-party or joint check unique:
- Made payable to two people or entities
- Both payee names appear on the "Pay to the order of" line
- Payee names are joined by "and" or "or"
- If "and" – both payees must endorse the check
- If "or" – either payee can endorse alone
Some common examples are payroll checks made out to spouses or checks from a customer written to your business and a supplier.
Cashing Two-Party Checks at Walmart in 2022
Walmart provides convenient check cashing services at over 4,700 MoneyCenter locations nationwide.
The retailer will cash two-party checks up to $200 for a fee of up to $6 per check as of 2022.
That makes Walmart one of the most affordable options compared to other major chains like Kroger, Safeway and Albertsons.
To cash a joint check under $200 at Walmart, you‘ll need to:
- Bring the original check and valid government-issued ID to the Money Center
- If payee names are joined by "and" – both payees must be present
- If payee names are joined by "or" – only one payee needs to be there
- Associate verifies signatures/endorsements match IDs
- Receive cash or load to a Walmart MoneyCard
Easy enough! Just make sure to bring all required parties and valid IDs.
Expert Seller Tips for Cashing Checks at Walmart
As an FBA seller, you can leverage Walmart‘s check cashing services in several helpful ways:
Cashing payroll or account checks – Rather than wait for funds to hit your business account, quickly cash joint payroll checks for inventory purchases.
Supply chain checks – Cash two-party vendor or supplier checks onsite for fast access to capital.
Customer joint checks – For dropshipping businesses, cash joint customer checks to fulfill orders quickly.
Record keeping – Keep diligent records of cashed checks for taxes and accounting. Consider a business checking account for easier tracking.
Limit trips – Bundle check cashing errands into one weekly Walmart trip to save time.
Compare costs – Weigh fees versus revenue opportunities – is faster access to funds worth the ~$6 fee?
With some planning, Walmart‘s low-cost check cashing can provide flexible working capital for your ecommerce business.
Walmart Check Cashing Limits and Requirements
While convenient, there are some limitations on cashing checks at Walmart to be aware of:
- Maximum check amount: $200 for two-party checks
- Maximum fee: $6 per two-party check, no matter the amount
- Daily check limit: 3 cashed per person per day
- Monthly limits: Up to $5,000 May-Dec, $7,500 Jan-April
- ID required: Valid government-issued photo ID
- Unavailable in NJ: Check cashing not offered at NJ Walmart locations
Below I‘ve compiled some data on Walmart‘s check cashing fees and limits compared to other major retailers:
|Per two-party check
|Must have Kroger loyalty card
|Higher fees for non-customers
|Requires Albertsons loyalty account
As you can see, Walmart offers relatively low fees and competitive maximums for two-party check cashing. The $6 flat fee regardless of check amount under $200 is hard to beat.
Expert Tips to Save on Check Cashing
As a financial analyst, I recommend a few best practices to minimize fees:
Avoid repeat trips – Consolidate checks to cash only once per week or month, rather than multiple smaller trips. This saves on per-check fees.
Ask for certified checks – Request vendors or clients pay you with certified checks, which cost $3-5 for them to obtain from their banks. These can be cashed anywhere for free since funds are guaranteed.
Compare bank account costs – Cashing numerous checks may justify the monthly fees of a business checking account for cheaper deposit options. Run the numbers to determine the best value.
Leverage loyalty programs – Sign up for retailer loyalty cards to avoid non-customer surcharges on check cashing and other financial services.
Following these tips can keep more money in your pocket. Evaluate whether the convenience of check cashing outweighs the costs.
The Bottom Line – Yes, Walmart Cashes Two-Party Checks!
I hope this guide gave you an in-depth look at Walmart‘s policies for cashing joint checks. The answer is yes – Walmart does cash two-party checks up to $200 for a $6 max fee in 2022!
As an experienced FBA seller, I highly recommend keeping Walmart‘s check cashing in mind as an option to quickly access funds and support your ecommerce business.
Just be aware of daily and monthly limits, know which payees must be present if names are joined by "and" or "or", and bring valid ID. If you have any other questions, don‘t hesitate to contact me!