PayPal waives fees for remote in-app gov’t and payroll check deposits
PayPal is temporarily waiving fees for consumers using its app to accept government and payroll checks during the coronavirus pandemic.
Consumers may use their smartphones for remote depositing payroll or U.S. Treasury funds into their PayPal app through May 31, PayPal said in a Friday press release.
The move enables consumers to get funds immediately through the app’s cash-a-check feature without risking exposure to crowds by visiting a physical location. Users also get a temporary reprieve from the 1% fee PayPal typically charges for instant check deposits. Ordinarily PayPal customers who use the feature without paying a fee must wait 10 days for funds to appear in their account.
PayPal also is participating in the IRS’ “Get Your Payment” initiative enabling customers to receive stimulus funds directly in their PayPal Cash Plus account.
PayPal introduced the PayPal Cash account a year ago.