I am expecting a settlement check for a worker's compensation injury. The check will go to my lawyer who will deposit it, take out his fees, and then give me a check for the remaining amount. I do not have an account with the bank that it is drawn on and would like to access the money immediately. However the bank it is drawn on charges a 3% fee to cash it. Is that legal? Is there any way I can get my money without having to pay the bank's fee?
Some banks do charge when cashing a check drawn on them for non-customers. There may be some states in which that practice is prohibited for state-chartered banks, but there is no federal law to prevent it.
Depending on how large the check is, it might be less expensive to pay to have your attorney wire the proceeds to your bank account, where you should get immediate access (because wired funds are considered final payments).
Otherwise, it would seem that your only alternative would be to talk with your own bank to see if you can make an arrangement to get quick access to the deposit if you make it there.
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Some banks do charge when cashing a check drawn on them for non-customers. There may be some states in which that practice is prohibited for state-chartered banks, but there is no federal law to prevent it.
Depending on how large the check is, it might be less expensive to pay to have your attorney wire the proceeds to your bank account, where you should get immediate access (because wired funds are considered final payments).
Otherwise, it would seem that your only alternative would be to talk with your own bank to see if you can make an arrangement to get quick access to the deposit if you make it there.
