Venmo customers can now cash checks directly from the app

Tuesday 5 January 2021 07:49 CET | News

Venmo has announced a new Cash a Check feature in the app for select customers, enabling Venmo's community to cash printed, payroll and checks directly from the Venmo app. 

Eligible Venmo customers who may receive a government stimulus paper check in the coming weeks will be able to use this new feature to have their stimulus checks sent directly into their account with Venmo, typically within minutes. All fees associated with the Venmo Cash a Check feature for stimulus funds will be waived for a limited time, to enable an affordable way to access much needed funding, without needing to go to a check-cashing location or wait in lines.

The Venmo Cash a Check feature allows select customers to cash checks and have them sent to a Venmo account. Customers in the US can take a picture of the check they want to cash and send it for review using the Venmo app on a mobile device, rather than visiting a physical check-cashing location. Reviewing a check for approval usually takes a few seconds, although it can take 3-5 minutes and in rare circumstances, up to an hour to verify enough check information to make an approval decision.  

If the check is approved, the money will be transferred to a Venmo account within minutes, with the fees associated with instant disbursement waived for all government-issued stimulus checks processed within the Venmo app.

The Cash-a-Check feature is a service provided by First Century Bank, and Ingo Money, subject to the First Century Bank and Ingo Money Terms and Conditions and Privacy Policy.

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Keywords: Venmo, cash, mobile payments, checks, payroll, Cash a Check
Categories: Payments & Commerce
Countries: United States
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