Checks are fast becoming a thing of the past. Attempts to cash a check some time ago might have been met with a lot of difficulties from numerous factors coming into play, such as determining if and when such a check may be cashed — not anymore, at least. Thanks to technology (fin-tech to be precise) and the internet, we are now able to cash checks online from the comfort of our homes.
Our Internet-enabled devices (smartphones, laptops, iPads, tablets, etc.) can make cashing checks online very easy, fast, and reliable. But to cash check online through these devices, they require apps, and these apps, in turn, require internet-uploaded information to be approved. For instance, you have to link your banking information with the app and also upload photos of the back and front of the check.
When uploaded, the photo goes into the app server, and it lodges the check for approval. If approved, the cash is then forwarded to the bank account number provided. If no bank account is provided, then you have to take another step to send the money to the desired destination.
10 Options to Cash Check Online
Paypal Mobile App
Paypal is a very popular online payment vendor that could cash check online among other assortments of services that they offer. They empower customers to do this through their mobile app, which is easily assessable on Google Play for Android users and the App Store for iOS users. All you have to do is to go to “my account” and take a snapshot of the front and back of the check. However, the processing time for transactions of this nature is no less than 2-3 working days, and there is a limit of not more than $1000 to be processed.
Waleteros Mobile Banking App
The Waleteros is a Latino-based mobile banking app that enables you cash check online, and they transfer to the virtual prepaid card they issue you once you sign up with them. The plus here for customers is that they withdraw cash at no cost from any Plus Alliance ATM and other cash-back locations. What this means is that there is a zero maintenance cost for ATM Cards since there is none issued to customers. However, there may be other fees involved, such as fees to check deposits, fees for PIN purchases, and card replacement fees. Customers looking to avoid overdrafts, ATM Card maintenance charges, minimum balance, international payment fees, inactivity fees, and hidden fees should find it a very attractive medium to use to cash check online.
You can always cash check online with Guarantee Bank if you have an account with them or not. They cash all different kinds of checks and money orders with a limit of $5,000. If you are an account holder, the amount chargeable is 1.5% of the check amount, and if you are not an account holder, the amount chargeable is 2.5%. Personal checks are 3% of the check amount for account holders and 3.5% for non-account holders.
This best serves as a last resort because the fees can add up to substantial amounts at the end of the day. One would rather look for free services with one’s bank if possible.