Check cashing shops expensive, banks better, according to Massachusetts Division of Banks study

A study released by the Massachusetts Division of Banks said the average consumer who cashes a weekly payroll check and pays bills by money order is paying anywhere from 5.5 times to 35 times more per month in maximum fees compared with the fees associated with a Basic Checking Account offered through Basic Banking For Massachusetts.

Check cashing shops expensive, banks better, according to Massachusetts Division of Banks study
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