IL works with banks to provide free check cashing for stimulus checks

Information provided by the Illinois Department of Financial and Professional Regulation

CHICAGO, Ill. (January 7, 2021) – On Thursday, the Illinois Department of Professional and Financial Regulation (IDFPR) announced they have worked with the banks to provide services for unbanked Illinoisans seeking to cash their stimulus checks without incurring check cashing fees. The banks provided this service during the first round of stimulus checks and IDFPR secured the same agreement for the second round of checks.

The FDIC estimates that over 22% of Illinois households are under or unbanked. Many of these Illinois households will once again be receiving paper stimulus checks and will have few check cashing options that won’t incur fees. IDFPR is proud to announce a number of banking institutions that are able to work with non-customers on cashing their stimulus checks for free. Thanks to Bank of America, First Midwest, Fifth Third, Huntington, Wells Fargo, JP Morgan Chase and U.S. Bank, Illinoisans will be able to cash their stimulus checks without incurring fees in order to ensure these funds go toward the food, housing, and necessities that people need during this difficult time.

In order to ensure proper social distancing and that everyone has the proper identification to cash their federal stimulus check, individuals interested in these options should contact the banks listed above, or email IDFPR at [email protected] to set up an appointment.