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Paypal waives off check cashing fees for second round of government-issued stimulus checks

By Pavithra R

December 23, 2020

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Paypal waives off check cashing fees for second round of stimulus checks
John Kunze, Senior Vice President of Branded Experiences, PayPal

Paypal has announced that check-cashing fees associated with the PayPal cash-a-check feature will be waived for government stimulus paper check recipients, enabling more customers to access their funds swiftly from the safety of their home, free of charge. 

The fast-access cash-a-check feature enables customers in the U.S. to take pictures of the check they wish to cash, and send it for review using the PayPal app on a mobile device, thereby eliminating the need for visiting a physical check-cashing location. If the check is approved, customers can have the money transferred to a PayPal Cash Plus account within minutes with the fees associated with instant disbursement waived for all government-issued stimulus checks processed within the PayPal app. The firm announced that the fees would be waived for a limited time only. Checks which are not approved will not be processed, and funds will not be received through its service. 

Additionally, the company has announced that those customers who used the PayPal or Venmo Direct Deposit feature to receive a stimulus payment in the 1st round of stimulus payments will automatically receive their payment directly through PayPal or Venmo if they’re eligible for a 2nd payment.

“In the first wave of the government’s stimulus payments in April and May, we saw an incredible number of customers look to PayPal as a way to receive their stimulus payment quickly and securely, either through Direct Deposit or using the PayPal cash-a-check feature. With the next round of payments to individuals coming soon, customers receiving a government-issued paper 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 to receive the funds quickly and easily,” said John Kunze, Senior Vice President of Branded Experiences, PayPal. 

Established since 1998, PayPal is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. The company has remained at the forefront of the digital payment revolution for more than 20 years.

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