How to Accept Payments Without a Bank Account?

Posted by Checkbook on Jul 11, 2020

Cash and Checks

Cash is one of the most historical forms of providing payments. You don’t have to go through any third parties or worry about setting up accounts. It may be an issue when scaling up payment amounts. As an illustration, it might be ludicrous to attempt to purchase a car with physical cash. Moreover, cash can be lost and stolen. You may be able to cancel a fraudulent credit card transaction, but once cash is stolen, it’s probably gone forever.

If you receive a paper check, you can cash it at the check writer’s bank for free. You can also cash the check at another bank or financial institution for a small fee. In the case you receive a Digital Check through vendors such as Checkbook, you may simply print the check and cash it in the same way as a paper check.

Money Orders and Cashier's Checks

Most billers do not accept payments in the form of cash. There are ways to maneuver the cash system in slightly more secure methods, such as using cash to buy money orders or cashier’s checks. Money orders can be purchased at banks, post offices, and retail stores for a low cost. The funds are considered guaranteed forms of payment and can be sent by mail. However, money orders are capped at $1,000.

Wire Transfer

A wire transfer is an irrevocable form of money transfer. Senders can bring cash to wiring service locations and wire money for a transfer fee. Two large players are WesternUnion and MoneyGram. Senders can send cash on one end and recipients can accept cash at different locations, or even different countries. Moreover, depending on the agent, funds can also be transferred to bank accounts or mobile wallets.

Prepaid Cards

Prepaid cards can be utilized as forms of payment or gifts. These cards can be reloaded with cash and used to pay bills and shop online. For example, the California Employment Development Department (EDD) has been distributing unemployment and disability benefits through the EDD Debit Card.

Some options include Visa Prepaid and Bluebird by American Express. Visa Prepaid cards can be reloaded at ReadyLink locations while Bluebird cards can be reloaded at Walmart for free and at participating retailers for a fee.


Digital currencies, like bitcoin, can be sent and received without bank accounts, credit cards, or other payment methods. A decentralized peer-to-peer system, cryptocurrency can be easily accessed from any computer or smartphone. The number of crypto ATMs has continued to increase across over 70 countries.

Related Posts Launches InstantPay

Julie Muhn of Finovate says, "The technology works because doesn’t use the antiquated ACH infrastructure, which requires recipient onboarding and takes three to five business days to move funds from one account to another."

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