Venmo Adds New Check Cashing Feature ‘Cash A Check’

0


Venmo has added a new checking cashing feature titled ‘Cash A Check’. Currently this feature is being rolled out to select users as part of a trial. Eventually this feature will involve fees (1% for checks with a pre printed signature and 5% for a hand written signature. Minimum fee will be $5), but currently these fees are waived on stimulus checks for a limited time. To be eligible for this feature users need to have done the following:

  • Receive a direct deposit or have a Venmo debit card
  • Location services turned on
  • Verified e-mail address

We’ve seen other fintechs reach into this sort of market with Cash App offering loans with an APR of 60%. PayPal has the same fee structure as this new offering from Venmo as well for cashing a check.

 





Source link

Choose your Reaction!
Leave a Comment

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 32,065.00 0.41%
ethereum
Ethereum (ETH) $ 1,309.39 6.34%
tether
Tether (USDT) $ 1.00 0.03%
ripple
XRP (XRP) $ 0.272180 0.41%
litecoin
Litecoin (LTC) $ 137.53 0.91%
binance-usd
Binance USD (BUSD) $ 0.998780 0.14%
Apple Inc.  AAPL 
$139.07  $2.20  1.61%  
Tesla, Inc.  TSLA 
$846.64  $1.65  0.20%  
Gevo, Inc.  GEVO 
$10.51  $1.21  13.01%  
Zion Oil  ZNOG 
$0.8750  $0.0100  1.73%  
VBI Vaccines, Inc.  VBIV 
$3.08  $0.0000  0.00%  
GameStop Corporation  GME 
$65.01  $21.98  51.08%  
Walt Disney Company (The)  DIS 
$172.78  $1.50  0.88%  
DraftKings Inc.  DKNG 
$52.53  $1.03  -1.92%  
Airbnb, Inc.  ABNB 
$181.87  $1.47  0.81%  
Silver Spike Acquisition Corp.  SSPK 
$23.60  $1.85  -7.27%  
GrubHub Inc.  GRUB 
$78.88  $1.04  1.34%  
Uber Technologies, Inc.  UBER 
$54.31  $1.48  -2.65%  
Eastman Kodak Company  KODK 
$9.46  $0.2700  2.94%  
HERTZ GLOBAL HOLDINGS INC  HTZGQ 
$1.57  $0.0800  5.02%  
DoorDash, Inc.  DASH 
$192.00  $1.11  0.58%