#Roommates, the second round of stimulus checks are definitely what many Americans need after such a devastating year—and PayPal is committed to doing its part to make things even better. As stimulus payments prepare to go out, PayPal just announced that it plans to waive all fees for those cashing their checks.
As reported by @Entrepreneur, PayPal is doubling down on a policy it enacted back in April by deciding once again to waive its 1% check-cashing fee for users processing their paper stimulus checks from the federal government. Although fewer than 10% of individual payments were distributed via paper check earlier this year, PayPal still aims to waive fees of those who do decide to cash their paper checks through them.
The company announced in a recent press release that its users “can cash their second round of government-issued paper stimulus checks remotely, typically within minutes, free-of-charge using the PayPal app cash-a-check feature.” Additionally, anyone who routed their direct-deposit payments through PayPal or Venmo last time will automatically receive this next allotment (provided they qualify) directly through that same service.
This effort falls in line with PayPal’s sights on maintaining its stronghold on digital payment-processing space—which include integrating cryptocurrency and designs on charging businesses to embrace its platform as a means of transacting with its users.
Previously, a representative for the company spoke of the decision stating, “We are committed to providing our customers the ability to receive access to their urgently needed stimulus payment as quickly and as securely as possible, especially if they are sheltering in place.”
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