PayPal customers can cash their government-issued paper stimulus checks remotely, usually within minutes, free-of-charge using PayPal’s in-app cash-a-check feature
PayPal has today announced that fees associated with the PayPal in-app cash-a-check feature will be waived over the coming weeks for government stimulus paper check recipients, enabling more customers to access their funds usually within minutes, from the safety of their own home, free of charge.
“In the current environment, we know that fast, easy, and secure access to stimulus payments is top of mind for a lot of people around the country,” said John Kunze, SVP Branded Experiences, PayPal. “We are committed to providing our customers the ability to receive access to their urgently needed stimulus payment as quickly and as securely as possible, especially if they are sheltering in place. Using the PayPal cash-a-check feature, customers receiving a government-issued stimulus check over the coming weeks will be able to cash their check without visiting a physical check-cashing location, simply by taking a picture of the check within the app, and can receive the funds quickly and easily.
“And over the next few weeks, fees associated with cashing a government-issued stimulus check through PayPal cash-a-check service will be waived, helping more people access these much-needed funds as quickly and efficiently as possible, without compromising their health and safety.”
With most people in self-isolation across the country, receiving funds from a stimulus payment through PayPal eliminates the need to visit a cash-checking location. And by electing to receive their funds into their account with PayPal, customers can be notified when their fundsare received,they can use their stimulus paymentimmediately wherever PayPal is accepted, or transfer to a linked bank account. It also enables those Americans outside of the financial system or without a bank account to access their stimulus payment securely.
Using PayPal’s cash-a-check feature from the safety of your home
The PayPal cash-a-check feature allows customers to cash checks and have them sent to a PayPal Cash Plus accountIf they haven’t already, customers can apply for a PayPal Cash Plus account within the app or online. Using cash-a-check is simple – customers in the US can take a picture of the check they want to cash, and send it for review using the PayPal 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 circ*mstances, up to an hour to verify enough check information to make an approval decision.
If the check is approved, customers can have the money transferred to a PayPal Cash Plus account in minutes, with the fees associated with instant disbursem*nt waived for all government-issued stimulus checks processed within the PayPal app. Step-by-step directions on using PayPal cash-a-check can be found here. Fees will be waived for a limited time only. Checks which aren’t approved will not be processed and funds will not be received through PayPal. For best performance, customers should have the latest version of the PayPal app installed and running the latest operating system on their mobile device.
PayPal Direct Deposit
Through the ‘Get Your Payment’ tool launched by the IRS, PayPal customers can elect to receive their stimulus payment into a PayPal Cash Plus account using Direct Deposit* in a few simple steps – some customers may already have a PayPal Cash Plus account, and if you don’t, you can apply for one within the app or online. To receive a government stimulus payment through PayPal, customers can apply for aPayPal Cash Cardif they haven’t already. Customers can do this by logging into PayPal in the app or online. Once signed up, customers can enter the PayPal-assigned account number and routing number listed in their PayPal Profile under Direct Deposit (you can find this in Settings in the PayPal account) in the IRS tool to receive your payment. More information on the steps to take can be found on the PayPal newsroom here.
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About the PayPal cash-a-check feature:
The cash a check feature is a service provided by First Century Bank, N.A. and Ingo Money, Inc., subject to the First Century Bank and Ingo Money Terms and Conditions and Privacy Policy. Fees and terms apply. All checks subject to review for approval. Unapproved checks will not be funded to your account. For more details, visitwww.ingomoney.com/partners/paypal-terms-conditions.
*Limited to Direct Deposit of a federal or state check, where permitted under applicable law. For up-to-date information from the IRS, visitwww.irs.gov/stimulus. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies, versus adding funds electronically using Direct Deposit. Direct Deposit and earlier availability of funds is subject to payer’s support of the feature and timing of payer’s funding
FAQs
With the recent passage of the American Rescue Plan legislation, which included a new round of stimulus payments for individuals, PayPal has today announced that instant access check-cashing fees in the PayPal and Venmo Cash a Check feature are being waived for government stimulus paper check recipients, helping to ...
Will PayPal cash my stimulus check? ›
In the app, click the More button at the bottom of your screen. Select 'Cash a Check'. You'll be prompted to set-up a PayPal Cash Plus account if you don't already have one. Take photos of your signed check and select the “In minutes” option.
Can I cash my stimulus check for free? ›
It all depends on each bank or credit union. Before going to the bank or credit union, you should give them a call. Ask them whether any fee will apply for cashing stimulus checks as a non-customer. Usually, fees could be between $5 and $20.
Why did PayPal deny cashing my check? ›
If the check is from a third party, PayPal generally will not cash the check. Make sure the check is to you, the person who owns the PayPal account. Business checks are also accepted if written out to cash. Your check could also be rejected if you did not provide identity information.
Who cashes stimulus checks? ›
Ask a Local Bank to Cash Your Stimulus Check
Since government checks are considered "safe," some banks will cash stimulus checks for non-customers—but 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.
Can you put stimulus check on Cash App? ›
Deposits. You can deposit paychecks, tax returns, unemployment benefits, government stimulus payouts, and more directly to Cash App. You can direct deposit paychecks, tax returns, unemployment benefits, government stimulus payouts, and more.
Will PayPal cash a check instantly? ›
It usually takes a few seconds to review a check for approval, although it can take 3-5 minutes and in rare circ*mstances, up to an hour to verify enough check information to approve your check.
Can I cash my stimulus check at Walmart? ›
Walmart will charge a small fee to cash stimulus checks
In August 2020, Walmart decreased its check-cashing limit from $7,500 to $5,000. You need to bring your stimulus check and a valid ID to the customer service desk or the Money Services center at Walmart.
How do I cash a government check without a bank account? ›
5 ways to cash a check without a bank account
- Cash your check at the issuing bank.
- Cash your check at a retailer.
- Load funds onto a prepaid debit card.
- Sign your check over to someone you trust.
- Cash your check at a check-cashing outlet.
If the check is approved, the money will be transferred to a Venmo account in minutes, with the fees associated with instant disbursem*nt waived for all government-issued stimulus checks processed within the Venmo app.
What is the fee for cashing a check? There is no fee when you get your check cashed in 10 days. If you want expedited check cashing, the fee is 1% for payroll and government checks with a pre-printed signature, with a minimum fee of $5.
How big of a check can you cash on PayPal? ›
Up to what dollar amount will cash a check allow? “You may use this service to cash checks ranging in value from a minimum of $5 to a maximum of $5,000. You can load multiple checks totaling up to $5,000 in value per day and up to $15,000 in value per month.”
What app will cash a check immediately? ›
The top instant check cashing apps without verification include Ingo Money, Brink's Money, PayPal, Venmo, Cash App, Chime, and Flare Account. These apps allow you to quickly cash checks by taking photos with your phone for deposit into bank accounts or prepaid cards.
Where can I cash my stimulus check without a bank account? ›
Cash a check at a retailer that cashes checks (discount department store, grocery stores, etc.) Cash the check at a check-cashing store. Deposit at an ATM onto a pre-paid card account or checkless debit card account.
Can a government check be cashed anywhere? ›
Some retailers offer check-cashing services. Walmart, for example, offers check cashing, including cashing of personal checks up to $200, payroll checks, government checks, tax refund checks, cashiers' checks, insurance settlement checks and 401(k) checks.
What happens if someone cashes your stimulus check? ›
You need to contact your local law enforcement as well as the IRS fraud department and let it be known that you never received your stimulus check and that the person who did has sent you text messages and has admitted to you that they cashed and did whatever with the cash.
Can I cash my stimulus check on Venmo? ›
If the check is approved, the money will be transferred to a Venmo account in minutes, with the fees associated with instant disbursem*nt waived for all government-issued stimulus checks processed within the Venmo app.
Does the IRS accept PayPal? ›
By debit card, credit card or digital wallet – This option is available for individuals and businesses. The IRS uses third party payment processors for payments by debit or credit card. You can pay online, over the phone, or using a digital wallet, such as PayPal or Click to Pay.
