Finance Breaking news Venmo introduces cheque cashing feature last financial news
Breaking-Finance.Com - Venmo has rolled out a feature that lets some customers cash paper cheques - including government stimulus cheques - within its app.
Breaking-Finance.Com - Venmo has rolled out a feature that lets some customers cash paper cheques - including government stimulus cheques - within its app. Available to "select" customers, the Cash a Check feature will allow people to cash printed, payroll and government cheques directly from the Venmo app. Customers take a picture of the cheque and send to their account for review using the Venmo app, after which the money is deposited in their account, within minutes.With the US government set to send out pandemic stimulus cheques in the next few weeks, Venmo is promising to waive fees for a limited time to give Americans an easy way to access their money without the need to go to a physical location.
."Eventually, Venmo will charge a one per cent fee on any government or payroll check cashed in the app with a pre-printed signature, with a minimum fee of $5.00. For other cheques, including hand-signed payroll and government checks, there will be a five per cent cashing fee, with a $5.00 minimum.
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