Beware of refund anticipation loans, sometimes called ‘Fast Cash’ or ‘Quick Refund’. These services may get you a quick refund, but they have very high interest rates and can end up costing you hundreds of dollars and are often considered predatory lending. Having your own checking account in a financial institution will allow you to cash checks for free as well as having the option to take a loan if needed. Avoiding Fast Cash/Quick Refund services will go a long way in saving you money. This is also true regarding your day to day financial needs. Using your credit union or bank for a loan or for cashing checks instead of Fast Cash/Quick Refund services will save you a large amount of money over time.
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