The age of physical checks is gone, and people hardly use them anymore. However, you can come across checks occasionally. Despite the limited usage of checks, banks still allow their customers to deposit checks using phones. Apart from that, customers can also use third-party money services with banks to cash their checks. In this article, we will learn how to deposit a check on Cash App.
However, it is important for you to know that this feature is not available to all users of the Cash App. Nevertheless, if the feature is available, you can submit the check with just a few steps. To learn in detail, read on through to the end of the article.
What Is The Cash App?
With the help of the Cash App, you will be able to receive or send money from your mobile devices. Apart from this mobile banking option, you will also be able to use the app to purchase assets like stocks and cryptocurrency through the platform. In addition to that, you will also be able to file taxes with Cash App Taxes. Furthermore, with the new feature, you will be able to deposit a check on the Cash App to cash your money.
According to the Forbes Advisor,
“Cash App is a financial platform, not a bank. It provides banking services and debit cards through its bank partners. The balance in your account is insured by the Federal Deposit Insurance Corporation through partner banks. Cash App provides investing services through Cash App Investing LLC, registered with the Securities and Exchange Commission as a broker-dealer and a member of the Financial Industry Regulation Authority.”
Additionally, with the help of the Cash App, you will also be able to send and receive money, get direct deposits, and get a debit card. Furthermore, there is an investment feature in the app that allows you to invest in stocks. Here, you can even purchase stock for $1 (actually, this is a portion of a stock known as a fractional share).
How To Deposit A Check On Cash App?
It is an easy process of depositing paper checks into the Cash App. In this section, we will share with you how to do that in a step-by-step method. However, before that, you will need to know that it is not always possible to deposit a check on the Cash App.
Requirements To Deposit A Check On Cash App
According to Android Authority,
“You may or may not be able to deposit a check on Cash App. The company still labels this an experimental feature; only some users can access it. Sadly, if your account doesn’t have the check cashing feature enabled, you won’t be able to use it until it is rolled out to everyone.”
No matter whether your account qualifies for this feature or not, there are some requirements that you need to ensure. Here are they:
- Ensure the check includes your name.
- You have full possession of the check.
- The check belongs to a bank, credit union, or any related US institution.
- The check is payable in US Dollars.
- It consists of the signature and authentication of the payer.
- The check amount must not exceed the maximum check amount of Square for your account. Furthermore, you will also need to ensure the daily, weekly, or monthly limits for the total amount of checks.
- Make sure the check that you are depositing is not older than ninety days. Also, make sure that the check has not yet been deposited or cashed.
- Ensure that there are no changes or modifications since the creation of the check.
- Make sure that the check was not dishonored before, nor are you aware of any dishonor.
How To Deposit A Check On Cash App? – Quick Answer
Here is a quick answer on how to deposit a check on the Cash App:
|1. Launch the Cash App
2. Go to the Money section, and select Checks
3. Input the check amount you want to deposit
4. Select Confirm Amount
5. Tap on “Confirm front of check” and “Confirm back of check.” Here, you will need to take photos of both sides of the check.
6. Click on Submit Check
How To Deposit A Check On Cash App? – Detailed Steps
The following are the steps you need to follow to deposit a check on Cash App:
- Launch the Cash App.
- Go to the Money section. This section has the icon of a money building, or it shows your account balance, too.
- Scroll down the section and select the Checks option.
- In the Checks area, enter the check amount you want to deposit.
- Select Confirm Amount after you have entered the check amount.
- Ensure the check amount information is correct. Once you are done, tap on the “Confirm front of check” option.
- Go through the on-screen instructions carefully to endorse the check. Once you are done, select the “Confirm back of check” option.
- Tap on the Take Photos option, which is adjacent to the front and back options. Then, upload the images.
- Click on the Submit check option.
How Does The Instant Checking Option On The Cash App Work?
According to Android Authority,
“There is no fee for depositing a check on Cash App. There may, however, be fees depending on what you do with the funds later. For example, Cash Out instant withdrawals to your bank account will incur a 0.5% -1.75% fee, with a $0.25 charge set as the minimum. There are also fees for investing in stocks or Bitcoin.”
Once you deposit the check, the funds will not be available to you instantly. Here, the time of the availability of the funds depends on where your checks come from. As per the claims of the Cash App, US Treasury checks are available in one business day. However, for other checks, it might take more than fifteen days to clear.
Hope this article was helpful for you in giving you a better idea of the Cash App works and how to deposit a check on Cash App. Once you follow the aforementioned steps, you can convert your check into liquid cash using the Cash App. Do you have more suggestions on how to use the Cash App? Consider sharing your information with us in the comments section below.