Have you ever received a check and thought to yourself “can I cash a check online?”
Checks are becoming a payment form of the past and it’s easy to see why. They are extremely inconvenient when it comes to actually getting your money. You have to go to the bank during open business hours (sorry weekends), wait in line, and then deposit or cash the check
Thankfully in today’s digital world, you can cash a check online very easily and there are a ton of great options available. Here are the best and cheapest ways to cash a check online when you need your money fast and want to do so from the convenience of your house.
Big Banks Now Have Free Apps
Chase Bank is one of the big banks that does allow you to cash a check directly through their mobile app if you are a current customer.
If you deposit the funds before 11 pm EST you will generally be able to access the funds the next business day. In some instances, there might be additional delays if the check amount is out the ordinary or the pictures didn’t upload correctly.
Chase is a great service as the app is very user-friendly, you can deposit the checks on your schedule, and the platform is very secure.
Bank of America, US Bank, and Wells Fargo have almost the exact same process when it comes to cashing your check online as long as you have an account with them. This is a 100% free option and lets you access your money relatively quickly and effortlessly.
Yes, PayPal the payment giant does allow you cash a check directly through their app which is available on both the App Store and Google Play. Once you download the app simply go to “My Account”, snap a few pics of both sides of your check and you are all set.
This is a 100% free service with no fees to get paid.
The downside? You do have to wait 2-3 business days and there is a $1,000 per day limit. This is not the best option when it comes to being able to cash a check online.
If you are a customer of one of the big banks previously mentioned they are the recommended choice.
Ingo Money is a free app that will allow you to cash checks quickly to your bank account, prepaid card or to a PayPal account.
The app will allow you deposit almost any type of check at any time of day and get your money instantly. Additionally, they allow you to split the cash amount, buy an Amazon gift card or fund several different accounts.
This is a great tool as it can allow you pay a credit card quickly and avoid any potential late fees (and the massive ding on your credit score). The one downside of this app is that it is only available in the App store for iOS devices, sorry Android users.
Guaranty Bank is another option when it comes to being able to cash a check online. When you can’t wait the normal amount of time, Guaranty Bank can help with their checks press check cashing service. They have several different options depending on if you are an account holder or non-account holder.
The types of checks that are eligible include payroll, government, tax refund, insurance, cashier’s, travelers, and money orders as long as the total is under $5,000.
If you are an account holder the fee is 1.5% of the check amount and the fee is 2.5% if you are not an account holder. Personal checks are 3% of the check amount for account holders and 3.5% for non-account holders.
This should be considered a last resort as the fees can really add up. Instead, opt for free services through your bank whenever possible.
Bank of Internet USA
Mobile Deposit offered through Bank of Internet USA, allows you cash your checks online directly into your checking or savings account with their app that is available on both the App Store and Google Play.
Once you download the app, you simply upload both sides of the check into a money market, checking, or savings account. The best part? This is a totally free service that is part of their online banking tools.
This suite of tools is only available if you open a checking or savings account with them.
Money Mart is another option that allows you to access your money nearly instantly and does have physical locations across the US if you do need to walk in. Their app is available on both platforms and you are able to upload checks as you would with the others previously mentioned.
Go Bank makes depositing a check online quick and easy. You can skip going to the bank by uploading pictures of the check from your smartphone. The app is available on both the App Store and Google Play.
Start Cashing Checks Online
Thanks to smartphone and convenient apps it has never been easier to cash a check online. If you can wait the 1-2 business days to receive the money big banks like Chase, Bank of America, and Wells Fargo are the easiest and lowest cost option.
They are also simple, safe, and will be directly deposited into your checking or savings account. If you can’t wait and need the money sooner, check out of one of the apps above but be sure to factor in the fees that are associated with them.
Have you cashed a check online with your bank or through a 3rd party app? Which is your favorite? Did we miss any?
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