PayPal will waive all of the fees normally associated with its in-application cash-a-check feature for recipients of government stimulus paper checks, enabling users to access those funds within minutes without having to leave their homes.
The payments platform said earlier this month that users who don’t already have a PayPal Cash Card could apply for one by logging into their account via the application or online and, once this was done, the account number and routing number for the PayPal Cash Card, listed in users’ settings under Direct Deposit, could be entered into the IRS portal to receive the stimulus payment directly in their PayPal account.
For paper checks, PayPal said in a blog post that users with PayPal Cash Plus accounts can take a picture of the check and send it for review via the PayPal application, removing the need to visit a physical check-cashing location.
The company added that the review process normally takes from a few seconds to up to five minutes (up to one hour in rare circumstances), after which users can have the money transferred to a PayPal Cash Plus account, free of fees.
The fee waiver is in effect for a limited time only.
PayPal senior vice president of branded experiences John Kunze said in the blog post, “In the current environment, we know that fast, easy and secure access to stimulus payments is top-of-mind for a lot of people around the country.”
He added, “Over the next few weeks, fees associated with cashing a government-issued stimulus check through PayPal cash-a-check service will be waived, helping more people access these much-needed funds as quickly and efficiently as possible, without compromising their health and safety.”