Although physical checks are definitely on their way out and financial institutions are actively trying to discourage people from using them, some people still rely on them.
For whatever reason you’re still using paper checks, you’ll be happy to know that Cash App is rolling out the mobile check deposit system that lets you deposit checks into your Cash App account by taking a photo of the check with your phone.
This is a truly ingenious and simple way (perhaps the simplest) to deposit checks that is already widely available in other financial and banking apps.
If in the Cash App you don’t have the option to deposit checks, it simply means that the app still didn’t enable check depositing functionality for you and therefore you won’t be unable to deposit a check using Cash App.
How to Deposit Checks on Cash App
Depositing checks via the Cash App is easy and includes the following steps:
- Tap on your balance in Cash App
- Scroll down and tap on the to deposit a check option
- After that, you’ll be asked to enter an amount of the check you are depositing
- Lastly, take a photo of the front and back of the check with your phone’s camera
Paper Check Requirements
If you want to deposit your check via the Cash App, there are some common-sense requirements it has to meet.
- The check is written to you, or jointly to another person
- It’s in your possession and control
- That it’s drawn on or payable by a bank, credit union, or other US depository institutions
- The check is payable in US Dollars
- Has been properly signed by the maker
- The amount of the check does not exceed the maximum check amount set for the use of Mobile Check Capture
- The check is dated, and the date of the check is in the past but no more than 90 days
- Both the check or any photo of the check has been cashed or deposited previously
- The check has not been altered in any way
- The check has been endorsed by you strictly in accordance with the instructions given to you
- The check has not been dishonored previously, nor are you aware of any reason to believe that the check will be dishonored
Or, in other words, the check should not be forged, altered, or previously deposited by you or someone else and it should be dated, in good shape, and properly signed by the issuer.
If that’s not respected, the so-called, drawee bank or a collecting bank may make a claim and try to recover the funds without previously notifying you.
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What to do After Submitting a Check?
There are some things that Cash App recommends before and after you deposit a check. For instance, you should make sure that your contact information is up to date so that the company can get in touch with you if needed.
They could be contacting you using email or even text. But be careful not to click any links inside them as there are scammers trying to pose as customer support.
After you submit a check with Cash App’s Mobile Check Capture, wait a few moments until the app confirms that the submission was successful. It’s also recommended to keep the original paper check somewhere safe.
After two weeks, you can destroy the original check, unless Cash App tells you otherwise.
Cash App Check Deposit Limits and Fees
There are no fees for depositing checks into your Cash App account. That’s also consistent with the platform as a whole as there are virtually no fees across the board except for instant transfers (1.5%).
As for limits, there’s no information on any limits on the Cash App website but we have to assume that there are some and that they depend on each customer individually.
As the mobile check deposit service on Cash App is still new and is rolling out to only some of the customers there’s really no way of telling what the limits are. There are reports of 5 deposits per month totaling $7,500 or up to $3,500 per check, but that’s unconfirmed.
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How to Check Your Cash App Limits
To find out what your limits are, simply open the Cash App and tap on the balance icon ($). Here, you’ll find the Limits menu. Once you tap on it, you’ll find your send and receive limits, as well as how much you can add or cash out.
How to Increase Cash App Limits
To increase any Cash App limits in your account, verify your account by giving your date of birth, full name, and the last four digits of your Social Security Number.
Be aware that you might have to provide further information if the company can’t verify it using the above info. It’s standard procedure.
Depositing checks to your Cash App account is easy. If you have the feature enabled. The thing is, most of the people still don’t and there’s no way of telling when and if everyone will get this very useful option.
Even though checks are definitely going the way of the dinosaurs, a good chunk of people still rely on them and we’d like this feature to be enabled across the board.
Adrian Volenik is a fintech enthusiast who loves testing and reviewing digital banking apps and financial products in general.
How many digital banking accounts can one man have?
Not enough, if you ask Adrian. As his wallet will soon explode if he doesn’t cut back on the number of cards.