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Brad Wenstrup, a member of the House Ways and Means Committee, R-Ohio, talks about the coronavirus stimulus deadlock in Congress.
Venmo has rolled out a new feature that allows users to cash printed checks, payroll, and government checks directly from their smartphone into their accounts.
With the new “Cash a Check” feature, eligible US Venmo customers who receive a government stimulus paper check in the coming weeks will be able to send it directly to their account through the app, according to the company.
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Users will be able to take a photo of a check they wish to cash and send it for review using the Venmo app. According to the company, the process typically takes a few seconds, although it can take up to an hour to verify the verification information before it is approved. However, unapproved checks will not be processed and funds will not be received through Venmo.
Darrell Esch, senior vice president of Venmo, said the move will help eliminate the need to physically go to a check-cashing location and queue with other people at a time when the number of cases of COVID-19 is increasing.
“We know that with health and safety a priority for many, it is essential for many of our customers to have a secure way to access stimulus payments, especially those who receive paper checks and who should normally go to a physical check-cashing location, “he said.
THIS IS WHEN YOUR SECOND STIMULUS CHECK HAPPENED
For a limited time, the company is also waiving all fees associated with the government-issued check feature to “ensure customers can use their stimulus funds to pay for the things they need most,” he said. declared Esch.
The feature comes as eligible Americans across the country await another round of government relief.
US Treasury Secretary Steven Mnuchin announced that the government had started sending out paper checks for an additional payment of $ 600 last Wednesday, meaning people should start receiving them within the next week if they haven’t already.
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“We are always looking for new ways to make it easier for our community to access and manage their money, especially as people continue to struggle financially amid the global pandemic,” Esch said.
If a person has direct deposit information on file with the IRS, they should receive their money even faster.
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