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Do you have a paper check and wondering if or how you can deposit it into your Venmo account?
With Venmo being one the most popular P2P apps available today, it isn’t surprising some people want to be able to deposit checks into their account.
In the following post, I show you how to deposit a check into your Venmo account and everything you need to know when doing so.
In This Post:
- Can You Mobile Deposit a Paper Check on Venmo?
- How to Mobile Deposit a Check Using Venmo (Step-By-Step)
- How to Endorse a Check for Mobile Deposit on Venmo
- How Long Does it Take for a Mobile Check Deposit to Clear Using Venmo?
- How Much Does Venmo Charge to Mobile Deposit a Check?
- How Much Are Limits When Mobile Depositing a Check on Venmo?
- Who Do I Contact if I Have Problems Mobile Depositing a Check on Venmo?
- Wrapping Up
- Reference
Can You Mobile Deposit a Paper Check on Venmo?
Yes, Paper Checks Can be Deposited on Venmo
You first need to know whether Venmo Mobile Check Deposits is compatible with paper checks. That answer should be a yes. The confirmation message on the app says: “Debit or deposit your check directly into your Venmo balance”
The reason this feature was added to the app is pretty obvious: because many people at some point need to deposit a check into their Venmo account, whether it’s a time-sensitive, emergency, or just a frequent practice to save money by depositing your paycheck before you spend it.
Paper checks are different from all the checks available in your bank. When you deposit a check into your checking account, your bank only pays the amount of money in the check. However, Venmo pays out the entire amount printed on the check.
A paper check is not an actual cash deposit but instead puts a digital value on paper — similar to how credit cards work.
So you can use your Venmo Mobile Check Deposit to deposit a paper check on the app. You can also link your Venmo account with a bank account so that when you want to deposit a paper check, your bank will pay out precisely the amount of money on it.
By default, when you make a deposit, Venmo requires you to upload a photo (typically from your phone) of the check you’re depositing. However, the company has realized that some users are still having issues with this process, so it’s now offering “mobile checks” in addition to paper checks for its customers.
For starters, you need to know if you have the latest version of Venmo (version 3.6 or later). This is already the case for most people since their iPhone, iPad, or Android app automatically downloads updates as soon as they are available, so they get features like Venmo Mobile Check Deposits almost immediately.
If your phone is more than two years old and does not have this feature, you will need to create a paper check deposit with your bank instead and then use that paper check at one of the participating banks.
Venmo also requires you to take a picture of the front and back of your check as a secondary security measure. Be prepared to wait because this is a two-step process. If you are trying to deposit a large amount, you should do this as soon as possible so that the funds will be available in your Venmo account much faster.
How to Mobile Deposit a Check Using Venmo (Step-By-Step)
You will have three different options for depositing paper checks into your Venmo account from the app: The “Deposit” button on the homepage, the “Deposit” option in search results, and a new tab called “Mobile Check Deposits. “
Open the Venmo app and go to Search > Tap on Deposits > Now, you will see a new feature called Mobile Check Deposits.
Or, you can choose Deposit from the home page > Deposit from search results.
Once your check is uploaded, you can cancel it if needed or deposit it into any of your existing Venmo accounts by tapping on “Deposit.” For this option to appear, your account must be linked to a bank account.
If the app accepts your check, you will see the total balance in your checking account. If not, you will see an error message.
Here Is A Detailed Guide On How To Mobile Deposit A Check Using Venmo:
Step 1: Download The Venmo App
To do a Venmo Mobile Check Deposit, your mobile app must be updated to the most recent version.
Make sure you’re on the latest app and have a Venmo account. You can download the Venmo app for free on your iPhone or Android device by visiting the App Store or Google Play Store.
The app works on any iOS or Android phone, but you need an Apple or Android device with a Samsung Pay or Google Pay (formerly known as Google Wallet) payment system.
Step 2: Go To The “Me” Tab By Tapping Your Picture Or Initials.
You will now see your picture, along with the name of the Venmo account you’re using and the balance on the left side of your screen.
In the Venmo app, tap your picture or initials at the top right corner of the screen. This opens your Venmo profile, where you can see all of your balances, recent payments, and transactions.
Step 3 Tap “Manage Balance”
Tap the “Manage Balance” icon to open your Venmo balance. You will now be able to see all of your Venmo balances. From here, you will see your Mobile Check Deposit balance.
Step 4: Select “Cash a Check.”
You’ll be required to verify your account details if you haven’t already. Once you’ve done that, tap “Cash a Check.” Scroll down to see if you already have a check in your Venmo app.
If you don’t have an existing check, the app will email you a picture of a blank check and ask you to fill in the information. Fill in your check details and re-scan it through Venmo’s scanner.
How to Endorse a Check for Mobile Deposit on Venmo
You need to take a picture of your check. It’s best to take two pictures of the check with two different angles from two different distances.
Your first picture should capture your full endorsement or the front of the check, including all signatures. Your second picture should capture only the back of the check, but ensure that it includes as much information as possible.
Then, you will enter brief information about yourself and your transaction, such as where you endorsed the check and how you want to send it back.
If you plan to deposit the full amount of the check, you will need to provide your bank routing number and a check deposit account number.
Sending an image file to Venmo through your email address requires some additional work and a few more steps. First, you will have to go back to the app’s “Cash a Check” screen and tap “Email me my Image File.”
Now, while still in the mobile app, you will need to open your new email message and attach the image file of your endorsed check this time.
Next, open another email message with yourself as the sender and attach one of the images you already received from Venmo. You’ll need to select the “Send” button when you are done.
After that, you will have to wait for Venmo’s check deposit team to review your request and send back an image file of a check that has been deducted from your Venmo balance. This confirmation should arrive in about 3 business days.
When it comes time for mobile deposits in your Venmo account, the mobile app will alert you via email if the check has arrived at their end and then issue a confirmation via email.
Venmo will then deduct the deposit amount from your Venmo balance and send you a confirmation email.
Once you have all the information, including your bank routing number and check deposit account number, you may proceed to step 3, in which you will enter some brief information about yourself and your transaction, such as where you endorsed the check and how you want to send it back.
You can check your receipt through Venmo’s mobile app by tapping “Menu” and choosing “Cash a Check.”
How Long Does it Take for a Mobile Check Deposit to Clear Using Venmo?
You have the option of receiving your funds in minutes whereby the fees may apply or in 10 days whereby no fee will apply.
The money will be received into your Venmo balance, and if you’re using Venmo for a quick bank deposit, your check will be deposited in your bank account the same day.
If you want to receive your money “in minutes,” the money will be available once your bank processes the transfer and Venmo settles with your bank. If you choose “in 10 days”, the money will be available in 10 days after your Venmo balance is credited.
Once Venmo settles with your bank, FIS will release the money to Venmo from their holding account. Then you’ll be able to see it in your account. Settling time is generally the same business day, but there can be a delay of up to one business day.
If you choose to receive the money in 10 days, your check must clear on the 10th business day after it has been deposited. The money will transfer first thing in the morning after Venmo settles with your bank.
This will usually happen the day after you choose 10 days. However, Venmo settles with your bank on the first business day of the week. So when you choose “10 days,” your money will be available later.
Venmo does not send you an email when your deposit clears and is available in your Venmo balance. You’ll be able to see it immediately after you choose “in 10 days.”
Even when you opt for the “in minutes” option, the processing time can still vary widely because of the unique way that Venmo processes payments.
When someone makes a payment directly through your account, this transaction doesn’t go through a banking system or credit card network with standard protocols—it goes directly from one bank account to another.
This payment type creates a transaction record and generates a unique code, which Venmo then uses to initiate the payment. As you might guess, these codes can’t be sent ahead of time to your bank so the money can clear immediately.
How Much Does Venmo Charge to Mobile Deposit a Check?
Venmo will charge a fee of one percent of every government or payroll check cashed in the app with a pre-printed signature, with a minimum cost of five dollars.
This includes check deposits from accounts designated to receive both Venmo payments and direct deposits, so long as the account has at least one check sent to it.
If you’re using Venmo to deposit a personal check that you wrote yourself and can sign on your mobile device, then the service will not charge any fees. The app will also remind you when you need to log in to your bank account in order to receive a transfer for a processed check.
How Much Are Limits When Mobile Depositing a Check on Venmo?
You are permitted to cash checks with a face value ranging from $5 up to $5,000, inclusive. You are permitted to cash up to $5,000 worth of checks in a single day and up to $15,000 worth in a single month. Every check has to be examined and validated before it can be cashed. Every check has to be examined and validated before it can be cashed.
Check Limits are Not the Same as Bank Limits on my Wallet
Some banks limit each check you deposit or tell you the maximum dollar amount you can deposit. Unfortunately, no bank institution has a limit on the total number of checks that you may deposit in a day or over time.
There is a way to know how many checks your bank will process through your ATM and have cash available for check payments, but this also means that if you try to deposit an unusually large check into your account — such as one from an overseas customer — your bank might reject it.
Who Do I Contact if I Have Problems Mobile Depositing a Check on Venmo?
If you’re having trouble depositing a check via Venmo, contact Venmo Customer Support. They have a team of customer service representatives that aim to help your money work where you need it.
You can also contact Venmo customer support by going to their Contact page and filling out the form. You can also tweet at them at @VenmoSupport, or try sending them a direct message on Facebook.
Documents Needed For Venmo Mobile Check Deposits:
The following documents need to be provided when you are trying to deposit a check through your Venmo account:
A front and back picture of the check, along with a brief image description. This is needed so that the transaction can be easily identified in case of any dispute. You should include information about your bank, including bank account number, routing number, and name.
You don’t have to provide this information if it’s already on your account profile. If you are depositing several checks from the same account, then you only need to provide those details for one check from that account.
A copy of the check with a signature. This is needed so that your bank can easily validate the check.
If you get an error message when trying to deposit a check via your iPhone, iPad, or Android phone, here are some good troubleshooting steps:
- Step 1. Close the app (if it’s open) and reopen it
- Step 2. Turn off your Wi-Fi and data connection
- Step 3. Turn your iPhone, iPad, or Android phone off and back on again
- Step 4. Restart your phone
- Step 5. Most of the time, if you start over several times, it’ll eventually work and show as a successful transaction in Venmo.
These steps seem to work for most people and will allow you to deposit a check via Venmo again.
Wrapping Up
As you can see in this article, Venmo has a mobile check deposit feature that allows you to quickly and easily deposit checks directly into any of your Venmo balances. This excellent service helps ease banking, especially if your check involves multiple checks and a bank account transfer.
Venmo Mobile Check Deposits are a convenient and secure way to move money between your checking account and Venmo.
Reference
- https://help.venmo.com/hc/en-us/articles/360061203533-Cash-a-Check-FAQ
- https://orbograph.com/venmo-adds-check-cashing-as-new-channel-for-growth/#:~:text=Unlike%20most%20banking%20apps%2C%20where,a%20minimum%20fee%20of%20%245.00.