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Venmo adds cash checking feature

Jan 06, 2021

?Venmo customers can now cash government-issued paper stimulus checks remotely

Venmo cash check

Venmo adds cash checking feature. Source:

Venmo has introduced a new Cash a Check feature for select US customers allowing them to cash printed, payroll, and government checks directly from the app.

All fees associated with the Venmo Cash a Check feature for stimulus funds will be waived for a limited time. That would enable a fast and easy way to access much-needed funding, without needing to go to a check-cashing location.

We're always looking for new ways to make it easier for our community to access and manage their money, especially as people continue to experience financial hardships amidst the global pandemic. We know that with health and safety top of mind for many, having a safe way to access stimulus payments is essential for many of our customers, especially those who are receiving paper checks and traditionally would have to visit a physical check-cashing location. By introducing the Venmo Cash a Check feature, we are not only enabling our customers to access their money quickly and safely from the comfort of their own homes but are also waiving all fees for cashing government-issued checks to ensure customers can use their stimulus funds to pay for the things they need most
Darrell Esch, SVP and GM, Venmo

To use the new feature, eligible customers can take a picture of the check they want to cash and send it for review using the Venmo app on a mobile device. Reviewing a check for approval usually takes from few seconds to 5 minutes.

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.? F

Checks which aren’t approved will not be processed and funds will not be received through Venmo.

We’ve reported that Venmo introduced its first-ever Venmo Credit Card, issued by Synchrony and powered by the Visa network.

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Tags: # US # Venmo

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