“During these difficult times, every dollar counts,” said Mussman. “Unbanked Illinoisans receiving a stimulus payment will get a paper check. While many banks typically charge a fee to cash checks, the Illinois Department of Financial and Professional Regulation has worked with banks in Illinois to ensure residents are able to cash their stimulus checks without paying a fee, allowing them to keep more of the money they are entitled to.”
According to the Federal Deposit Insurance Corporation (FDIC), over 22% of Illinois households are unbanked. Mussman is highlighting the Illinois Department of Financial and Professional Regulation’s (IDFPR) work with banks throughout Illinois to provide free check cashing services for stimulus checks to unbanked Illinoisans. Banks participating in this free service include Bank of America, First Midwest, Fifth Third, Huntington, Wells Fargo, JP Morgan Chase and US Bank. Individuals interested in taking advantage of this free service should contact these banks or email IDFPR at ILBanks@illinois.gov.
“Thanks to these banks and IDFPR, Illinoisans will be able to keep their entire stimulus check without paying fees to cash them. This means residents have that money to spend on essential items and bills,” continued Mussman. “I encourage unbanked residents to take advantage of the free check cashing services available through banks in our community.”
Mussman represents the 56th District, which contains portions of Schaumburg, Hoffman Estates, Elk Grove Village, Hanover Park, Roselle, Rolling Meadows and Palatine.