Venmo has added a new check-cashing feature to its app rolling out to select users on Monday. It can be used to cash printed, payroll, and U.S. government checks. The company is also waiving its 1% fee for stimulus checks for a limited time.
To be eligible to use Cash a Check, Venmo customers will need to have either Direct Deposit or a Venmo Debit Card enabled on their account, location services turned on, and a verified email address.
Customers who gain access to the feature will then be able take a picture of their endorsed check and send it to the Venmo app to review, much like they would if cashing a check in a mobile banking app.
Check It Out: Cash Your Stimulus Check Using This New ‘Venmo’ Feature