According to Quizlet, which is a study platform, check cashing companies can take a percentage of your check on top of fees. However, the statement that is false is that they charge low fees .
For example, if you have a $100 check and the check cashing company charges you 5% of the check amount plus $5 fee, you will receive $90 ($100 - 5%*$100 - $5) instead of the full $100.
