If you are an over-the-road truck driver using Electronic Funds Source (EFS) checks to cover costs and expenses while out on the road, you may be wondering if you can cash those pre-printed checks at Walmart stores and money centers.
The short answer is no – Walmart does not cash EFS checks as of 2022.
However, there are still numerous places you can cash your EFS checks conveniently and affordably. This detailed guide will explain everything you need to know about getting cash for EFS checks, including:
- What EFS checks are and how they work
- Walmart‘s policies on cashing EFS checks
- The best truck stops and banks to cash your EFS checks
- Typical fees and cash limits for cashing EFS checks
- Other options beyond retail stores and banks
We‘ll also provide tips and best practices when it comes time to turn your EFS checks into cold, hard cash.
What Are EFS Checks and How Do They Work?
EFS checks are a payment solution provided by Electronic Funds Source (EFS), a subsidiary of U.S. Bank that specializes in providing payment solutions for the transportation industry.
EFS checks allow truck drivers to pay for qualified truck-related expenses like fuel, maintenance, repairs, and more at thousands of participating merchants across the United States. They provide an alternative to carrying large amounts of cash.
Who Uses EFS Checks?
EFS checks are designed specifically for over-the-road truckers, either independent drivers or those working for carrier companies.
According to EFS, there are over 500,000 truckers actively using EFS checks nationwide. The average value of an EFS check cashed is around $165.
How Do Truckers Obtain and Use EFS Checks?
Drivers or their parent companies apply for and are issued EFS checks directly through EFS. Physical EFS check books will be mailed out or checks may be issued electronically.
The funds are drawn directly from the driver‘s or company‘s bank account. EFS checks can only be used for approved truck-related purchases according to EFS merchant policies.
Drivers simply present an EFS check as payment during a qualifying transaction, such as buying diesel fuel at a truck stop or paying for a tire repair. The merchant has procedures to verify the funds.
Security Features of EFS Checks
EFS checks include standard security features to prevent unauthorized usage, including:
- Custom TRUCK-WORTHY watermark
- Heat reactive ink
- Microprinting
- High resolution border
EFS checks also utilize linked magnetic ink character recognition (MICR) for authentication.
Why Won‘t Walmart Cash EFS Checks?
Walmart has specific policies regarding which types of checks they will and will not cash at their 5,000+ store locations and money centers.
Unfortunately EFS checks do not currently fall into the accepted categories based on the following factors:
Walmart Requires Guaranteed Funds for Check Cashing
Walmart mitigates risk by only agreeing to cash checks where the funds are guaranteed or verified. This includes government, payroll, and cashier‘s checks.
EFS checks are drawn from the driver‘s bank account, so the risk is greater if that account has insufficient funds to cover the check.
According to Walmart‘s check cashing policy, they will not cash any checks "that we cannot guarantee funds on."
Logistical Challenges for Walmart to Verify EFS Checks
As a primarily consumer-focused retailer, Walmart may not have the back-end systems and processes in place to handle specialized EFS checks frequently used in the trucking industry.
The EFS verification process requires integration with EFS‘s payment system and network. With no business need to accept EFS checks from a small portion of their customer base, the logistical challenges likely outweigh the benefits for Walmart.
Low Consumer Demand Among Walmart‘s Customer Base
With over 140 million general consumers visiting Walmart weekly, over-the-road truckers represent a very small percentage of their target customer segment.
There may not be sufficient consumer demand among Walmart‘s customer base to justify adding support for EFS checks in over 5,000 domestic store locations.
Where Can You Cash EFS Checks?
While Walmart won‘t cash your EFS checks, you still have plenty of convenient and affordable options at truck stops, banks, and other retailers along major highways and interstates. Here are some of the best places to cash EFS checks while out on the road.
Major Truck Stop Chains
The most convenient options for cashing EFS checks are nationwide truck stop chains situated right along your route. Here are some of the largest truck stop operators and their EFS check cashing policies:
- Over 750 locations in the U.S.
- Cash limit: $999.99 per check
- Flat $5.00 fee for cashing checks
- Also accept Comdata, TCH, and other trucking checks
- Over 550 locations across the U.S.
- Cash limit: $999.99 per check
- $3 fee or 3% of check amount
- Accept EFS, Comdata, and other trucking checks
- Over 275 travel centers nationwide
- Cash limit: $300 per check
- Fees vary by location
- Around 75 locations in midwestern states
- $999.99 cash limit
- $3 fee for every $100 cashed
Be sure to call ahead to verify location hours, cash limits, and fees before visiting. It‘s also wise to check that they have enough cash available to accommodate the full value of your check.
National Banks
If there are no truck stops conveniently located, you can also cash EFS checks at national banks such as:
- Chase
- Bank of America
- Wells Fargo
- U.S. Bank
- Local community banks or credit unions
However, you will likely need to visit a branch in-person. The teller will review the check and ID before cashing it from your account, if funds allow. This process can take longer than a truck stop.
Banks typically don‘t charge fees for cashing checks for account holders, but fees for non-customers may apply.
Here is an example of what the typical in-person check cashing process looks like at a national bank branch:
- Enter the bank branch and get in line for the next available teller
- When called, approach the teller window and let them know you want to cash an EFS check
- Present your EFS check and a valid government-issued ID such as a driver‘s license
- The teller reviews the check and verifies your ID matches the name
- Once validated, the teller cashes the EFS check amount from your account, minus any fees
- You receive the cash directly from the teller
This process can take 10-15 minutes or more depending on branch wait times. Be sure to bring a valid photo ID with you.
EFS Check Cashing Fees and Limits
Whether cashing your EFS checks at a truck stop or bank, expect to pay a small fee or percentage of the check amount. Here are some examples:
| Location | Fee |
|---|---|
| Pilot Flying J | Flat $5 fee |
| Love‘s Travel Stops | $3 or 3% of check amount |
| TA-Petro | Varies by location |
| Chase Bank | 3% for non-customers |
Many locations will waive check cashing fees if you purchase fuel or other services.
Daily cash limits also apply, typically ranging from $300-$1,000. Call ahead to confirm fees and cash limits before visiting a location.
Having a checking account relationship with a major bank like Chase can help reduce or eliminate cashing fees. Compare all fees near your route to maximize value.
Other Ways to Cash EFS Checks
Beyond retail stores and bank branches, you have a few other options to convert your EFS checks to cash:
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Check cashing services – Standalone check cashing stores are located in many towns and highway exits. Fees are usually higher.
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Your bank‘s mobile app – If your bank offers mobile check deposit, you can remotely deposit the EFS check to your account and then withdraw cash from ATMs along your route.
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Online check cashing services – Companies like eCashChques allow you to mail in your check to cash it for a fee. You will receive funds electronically or via money order. Allow extra time for mail service.
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Credit union shared branches – If you belong to a credit union, you can cash checks at thousands of shared credit union branch locations across the U.S.
Tips for Cashing EFS Checks
Follow these best practices when you need to cash an EFS check on the road:
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Call ahead to verify cash limits, fees, and cash availability
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Visit during normal business hours to avoid denied transactions
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Have your government-issued photo ID ready to present
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Cash checks at beginning of trip to avoid running out of funds
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Keep records of checks cashed in case they are lost or stolen
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Compare fees at nearby truck stops and banks to get the best rate
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Sign up for a checking account at a national bank to reduce cashing fees
The Bottom Line
Walmart‘s money centers do not currently cash EFS checks, but you have many convenient and affordable options at thousands of truck stops, banks, and other retailers across all major U.S. highways.
By understanding the best places to cash EFS checks, keeping track of fees and limits, and following some simple best practices, you can easily access critical funds from your EFS checks when miles from home. Don‘t let not being able to cash at Walmart stop you from taking advantage of the flexibility and security EFS checks provide life on the open road.
