Cash Your Stimulus Check In Minutes Straight To Your Venmo Account Here’s How
Venmo is waiving fees on stimulus payment deposits for a limited time so you can get to your money faster. Here’s how to do it.
Shelby Brown
Staff Writer
Shelby Brown is a writer for CNET’s services and software team. She covers tips and tricks for apps, operating systems and devices, as well as mobile gaming and Apple Arcade news. Shelby oversees Tech Tips coverage and curates the CNET Now daily newsletter. Before joining CNET, she covered app news for Download.com and served as a freelancer for Louisville.com.
The second stimulus check is starting to appear in bank accounts and mailboxes of qualified US adults. The IRS and US Treasury are still working on delivering the second round of stimulus payments –through direct deposit, paper checks and EIP cards — ahead of Jan. 15, a deadline specified in the new stimulus package.
If your second stimulus check is arriving in the mail , you might not have to leave the house to cash it. Venmo, the money transfer app, added a new feature called Cash a Check for select customers on Monday.
How Do I Know If I Qualify To Use The Venmo App For Cashing Stimulus Checks
The new check-cashing feature doesn’t apply only to stimulus checks, but you can use it add the money from a second stimulus check directly into your account. To use the feature, you’ll need a Venmo account, a verified email address, a Venmo debit card or an active direct deposit on the account. Location services are also used. The app partnered with First Century Bank and Ingo Money to provide the service. Ingo Money also provides the check-cashing feature for PayPal, Venmo’s parent company.
See also: Best credit cards
Instant Check Cashing Wrap Up
There is no question that instant online check cashing is more convenient than cashing a check from 10 years ago. Mobile deposit instant funds is expected now a days. Not only does it save time by utilizing mobile check cashing services, it is also more secure. There are some check cashing apps that dont use Ingo as well that could be an option for you.
Once you have a check to cash, you dont have to wait to go to the bank and risk losing the check anymore. Once you have the check in your hand, you can deposit it.
All it takes is a check cashing app and a minute of your time . If you are willing to pay fees, you can cash a check online instantly and receive the money within minutes into your account.
Or, if you are willing to wait the 10 days and use the ACH transfer option, you wont have to pay any fees with some of the check cashing apps above.
Whatever you decide, there are many ways how to cash a check from your phone and receive the money instantly.
Recommended Reading: Will Texas Send Out Stimulus Checks
Others Ways To Cash A Government Check
If you rely on services other than a bank for your check cashing needs, you have probably heard of several options for how to get your money in hand. We believe EZ Money provides a better service for our customers than some of the alternatives. One such alternative is to endorse your check to a friend. You would have to be able to have complete trust in your friend to even consider this, and individual banks will each have their own policies on whether or not they will honor a check in this manner. So for many individuals, this is simply not an option. Stores like Walmart will often provide cash checking services, however, they do have limits on the amount the check can be and the types of checks they cash. Like all check cashing services, they do also charge fees. One way of potentially avoiding fees is to load the money onto a prepaid debit card. But again, not all banks will do this and sometimes you just need cash, not a card.
List Of Check Cashing Online Services To Use
In todays age, you should be able to cash a check online without having to leave your home or office. Some of these are online check cashing apps and some are local banks for you to consider. Nevertheless, these online check cashing services are highly convenient and can instantly free up your time. I dont know about you, but I dont really enjoy running errands.
Here are 9 instant online cashing options that you can consider:
Read Also: Didn’t Get Stimulus Payment
How Long Do Mobile Deposits Take
It can be a little confusing to find an app for mobile deposits. Mobile deposits can be as fast as instant online check cashing or take up over a week. You have options now many different types to choose from with various features. But first things first: make sure your bank account is set up properly before choosing which type of account you want on the app or ATM machine.
What kind of bank account should I use? A checking account versus a savings account might affect the rates when using certain apps for mobile deposits. If you need checks, know the bank differences between a cashiers check vs. a certified check before getting an account.
Ultimately the future of mobile check deposits is becoming a more secure and convenient option for consumers, as the market is constantly changing to meet their needs.
There are a lot of other mobile check cashing apps that dont use Ingo Money to cash the check. While it is easy to make money transfers in person or online with the Ingo Money app, there are other great apps that can help you invest spare change from purchases and even get a credit card in order to pay off debt. Mobile deposits also are based on direct deposit times as well from banks.
This article will take a look at some of the alternatives to Ingo Money for check cashing.
Easy Ways To Cash A Check Online
by Lauren Bennett – Verified & Updated January 27, 2022
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Getting a check isnt the most convenient way to get paid. Direct Deposits, PayPal and other sites like PayPal are much faster, right?
Yet many companies, organizations and individuals still choose to pay by check.
There are obviously many ways to cash a personal check near you, going to the bank for example. Getting down to the bank can be a pain, so if youve got a check you need to cash, you might be wondering if theres a way you can do it online.
If youve ever wondered how to cash a check online, youll be glad to know that there are actually plenty of options available to you.
What will I learn?
Also Check: Is Stimulus Check Taxable 2022
Theres Still Time To Get Payments
If you havent yet filed your tax return, you still have time to file to get your missed 2021 stimulus payments.
Visit ChildTaxCredit.gov for details.
The IRS has issued all first, second and third Economic Impact Payments. You can no longer use the Get My Payment application to check your payment status.
Most eligible people already received their Economic Impact Payments. However, people who are missing stimulus payments should review the information below to determine their eligibility to claim a Recovery Rebate Credit for tax year 2020 or 2021.
Securely access your IRS online account to view the total of your first, second and third Economic Impact Payment amounts under the Tax Records page.
Your Coronavirus Stimulus Check Made Easy
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We offer several convenient, easy-access options so that you can bank from the safety of your home, phone, or car.
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You May Like: Status On 4th Stimulus Check
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GET PAID UP TO 2 DAYS FASTER WITH DIRECT DEPOSITHave your paycheck or benefits loaded to your Card Account.
The Savings Account is made available to Cardholders through The Bancorp Bank, Pathward, N.A., and Republic Bank & Trust Company Members FDIC. To participate in the Savings Account program, Cardholder must consent to and continue receiving communications from us in electronic form. If Cardholder is subject to Internal Revenue Service backup withholding at the time of the request to open a Savings Account, the request will be declined. Interest is calculated on the Average Daily Balance of the Savings Account and is paid quarterly.
- If the Average Daily Balance is $1,000.00 or less, the interest rate paid on the entire balance will be 4.91% with an annual percentage yield of 5.00%.
- If the Average Daily Balance is more than $1,000.00, the interest rate paid on the portion of the Average Daily Balance which exceeds $1,000.00 will be 0.49% with an APY of 0.50%, and the interest paid on the portion of the Average Daily Balance which is $1,000.00 or less will be 4.91%. The APY for this tier will range from 5.00% to 0.54%, depending on the balance in the account.
Ask A Local Bank To Cash Your Stimulus Check
Since government checks are considered “safe,” some banks will cash stimulus checks for non-customersbut you might have to pay a fee. While many banks are waiving fees for stimulus checks, it’s best to call ahead to make sure. If there is a fee, it could run anywhere from $5 to over $20. Also make sure you bring at least two photo IDs with you .
The Federal Deposit Insurance Corporation , which helps regulate banks and insures bank deposits, has encouraged financial institutions to work with people impacted by the coronavirus crisis, including by waiving fees and easing restrictions on cashing non-customer checks. So, hopefully, there’s a bank near you that will cash your stimulus check without a fee.
Read Also: How To Get Stimulus If You Don’t File Taxes
What Is A Mobile Check Deposit
Mobile check deposits can save you time by depositing your checks remotely, no matter your location or time of day. Instead of making a routine trip to the bank, you can simply take a picture of the front and back of the check with your smartphone or mobile device, and deposit it using a mobile app.
This can help you save time while also checking an item off of your to-do list. Using mobile check deposit, you can deposit various types of checks into your bank account, including:
- Personal checks
- Government-issued checks, such as tax refunds and stimulus checks
What Are Some Disadvantages Of Check Cashing Apps
These apps all have the same issues that traditional banking has when it comes to fees, especially if you use them as often as some people do. Its also inconvenient because these apps require internet connectivity, so there are times when you might want cash but dont have access. You may not be able to cash a check made in someone elses name, however.
Recommended Reading: How Do I Check My Stimulus Card Balance
What Types Of Checks Can Be Deposited With Mobile Deposits
- Personal checks
Ineligible items include, but arent limited to:
- checks or items not payable in United States currency
- checks or items drawn on financial institutions located outside the United States
- money orders and travelers checks
- American Express® Gift Cheques
- checks or items containing an obvious alteration to any of the fields on the front of the check or item which you know or suspect, or should know or suspect to be fraudulent
- checks or items drawn or otherwise issued by you or any other party on any of your Navy Federal accounts
- checks or items previously converted to a substitute check
- checks that require authorization
- state-issued registered warrants
- eChecks – checks printed using a personal home printer
- Fiduciary checks – any checks where the designated payee is an individual acting on behalf of another person
- checks from a closed account at another financial institution
- checks or items that are incomplete
- Navy Federal reserves the right, in its sole discretion, to determine what items may be considered Ineligible Items.
Other Benefits For Bank Account Holders Include:
- Visa debit card offers
- Prepaid credit card offers are available
- Options for a prepaid card for purchases for teens
- Can usually link your bank account to your PayPal account
- Customer service representatives are available to assist
Many banks, including First Century Bank, Chase, and more, offer the same services as check cashing apps with less hassle, and they also dont use Ingo Money for mobile deposits as well.
Read Also: Are We Still Getting Stimulus Checks
Your Money Right Away
Banks often hold your check funds for days. Moneytree funds most check cashing transactions right away in cash*, loaded on to your prepaid debit card or straight into your debit card account with our Instant Funding option.
*Subject to verification and cash availability.
Instant Funding is not available for all debit cards. Subject to limitations. Some restrictions may apply. Processing times vary. In most instances funds are transferred in approx. 30-45 minutes, but can take longer. Moneytree is not responsible for bank posting delays or errors.
Where Can I Cash My Stimulus Check Try Walmart Or Paypal
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There are two ways to receive your $1,200 stimulus check . You can have it deposited directly into your bank account, or you can receive a paper check in the mail. Millions of Americans have already received electronic stimulus payments from the IRS via direct deposit. And now the IRS is also starting to mail paper checks to people who don’t have a bank account or haven’t signed up for direct deposit. .
If you end up getting a paper stimulus check, you can either cash it or deposit it into your existing bank account. But what if you don’t have a bank account–what are your options? Can you just go to any bank? What about cashing the check at a store? Should you try a check-cashing business? If you’re not sure what’s best for you, here are a few ideas to consider.
Don’t Miss: Non Filers Stimulus Check Application
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Do I Need An Id To Cash A Check
How to cash a check without ID:
- Deposit it into your account through an ATM at your bank
- Take advantage of ATM check cashing if your bank offers it
- Sign the check over to someone else
Most banks require your ID be presented before they cash a check, but theres no standard list for whats considered an acceptable form of ID. Check with your bank or the bank that issued the check to see if you have a document that theyll accept as ID.
As a last resort, you can sign the check over to someone you trust and ask them to cash it for you. This creates a third-party check. However, if you choose this option, keep in mind that many banks will require verification that original payee authorized the signing over of the check, by having the original payee present and presenting their ID. Read about how to endorse a check to have a friend cash it for you.
Read Also: What Month Was The Third Stimulus Check
Who Uses Check Cashing Apps
Check cashing applications are also available to conduct a mobile deposit for government and payroll checks, not to mention a personal paper check you may need to deposit. The benefit of using check cashing apps is that you can use mobile banking apps to conduct banking transactions instead of going to an actual bank. This means you can do your banking from anywhere as long as you have an internet or data connection. You dont have to worry about traditional banking methods, such as physically going to a bank to conduct banking.
Check Cashing Apps are ideal for those who want the convenience of not having to go to an actual bank to conduct their transactions. The mobile deposit is also a very convenient way to handle your finances.
Additionally, a few check cashing apps noted below dont use Ingo for mobile deposits, so they may offer a free deposit option for your money. Many apps use a linked bank account to conduct digital banking such as direct deposit, cash checks instantly, send money, and manage balance inquiries.
