When i get my First Job do i have to have a bank account to turn my Check into CASH?

Question

& i also want a savings account, but im not gonna put my whole check in there....?

help cuz when its my birthday and im 1 year older im gonna go look around for Jobs.

Answer 1

not necessarily you can always cash it a cashing check place but it would much better to get a back account especially if they offer direct deposit that way you can get you money quicker without having to go to work to pick it up  or you can just cash it and put whatever amount  you want in the bank you can also get a savings account too  

Answer 2

The best thing to do would be to open a checking and savings account and use an ATM card for withdrawals.

Answer 3

A check-cashing service will cash your paycheck for a small fee. With your first pay, open a savings account, and then, as soon as you are able, open a checking account, at the same bank.

Answer 4

There are a lot of possibilities.

Direct Deposit.  Many jobs only pay this way.

Paper check which you can then deposit or cash at a check cashing place (there would be a fee).

(rare) Debit Card with money on the card and then access via an ATM.

Answer 5

some employers use direct deposit but they must offer you other options. the employer is actually required by law to pay you in cash or any instrument that may be redeemed for cash(such as a check or bank draft). if they pay you by check they must have a local bank that will cash the check for no fees for all employees.

if they offer direct deposit and you want a savings account that would be your best option. you can always withdraw funds but as many young workers find out it is easier to save money if it is not in your pocket. by depositing directly into a savings account you must make an effort to withdraw funds which causes you to think about what you are doing and not spend money on a whim. you will be able to open your acount with your first paycheck. many banks offer special incentives for new customers and for minors who are just joining the work force. you are thinking ahead which shows some maturity and will help you when you start the job search process.

Answer 6

all the above plus if your paycheck is written on a local bank you can go to that bank to cash it and there should not be a fee.

Answer 7

You do not need a bank account.  You can receive your check and take it to one of those check cashing places and get it all in cash.  But then you run the risk of getting robbed of all the money you made, or spending it all rather than putting some into a savings account.  And the check cashing places all charge a noticable fee for doing that service so you won't get as much money as your check indicates.  Not sure if that is worth it to you.  You can deposit the whole check into your savings account and withdraw only the amount you need to spend.  You can open a checking account and a savings account at the same bank, and most sizable banks will "connect" the two accounts so you can transfer money back and forth between the two as needed (many banks have online accounts so you never have to step inside the bank).  Many banks these days also have will let you designate a certain percentage (or dollar amount) of each pay check that you want the bank to automatically transfer from you checking account into your savings account so you won't need to do anything (except keep an eye on your statements to make sure it is being done).  Many banks will also stop charging you their monthly administrative fees once you have a certain minimum balance in all your accounts with them--if the bank's minimum balance requirement is $2,500, once your savings and checking account amounts to $2,500, you won't be charged the monthly fees.  Make sure you make a monthly budget and try to adhere to it so you don't overspend (makes life so much nicer) and avoid a whole lot of worries.