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Paperless banking is nearly here, but many of us still receive printed checks that need processing. If you’re using electronic banking every day a physical check can at first glance appear inconvenient. But cashing a check really needn’t be a hassle. In fact, you can cash a check using your phone alone. In this article we cover everything you need to know about instant check cashing apps – keep reading!
Instant check cashing apps
When you deposit a check at a physical bank branch or with your bank’s mobile app you may need to wait a while before the money is available to spend. This could typically be two or three business days, though sometimes a percentage of the funds will be available to spend straight away.
This waiting period is not always convenient, and that’s why app developers have come up with ideas to help you cash checks almost instantaneously. With just a few minutes to wait you can get access to the funds of a check almost instantaneously, but there may be fees to pay.
Go2Bank – $200 overdraft line and get a $5 check cashing bonus
Go2Bank is a mobile bank account with some great features, including overdraft protection 1 for up to $200 debit card purchases, plus access to your paycheck two days early2. Set up direct deposit and its easy to get these benefits and more with no fees.3
Go2Bank is amongst the new crop of ‘neobanks’ that give you full-featured access to key banking services right from your phone. The Go2Bank app gives you full access to your account, and it’s linked to you Go2Bank debit card, which makes it easy to manage and access your money.
Though Go2Bank doesn’t have any branches, your account comes with a Visa debit card that you can use to make purchases with nearly any merchant that accepts card payments. Need cash? You can make a withdrawal via thousands of ATMs in Go2Bank’s nationwide network, with no fee. 5, so you can cash a check at anytime and from anywhere, just by taking two photos of it on your phone. Need to deposit cash, you can so at nearly 100,000 retail locations, including CVS, Walmart or Walgreen’s stores.
You can even get a $5 credit with Go2Bank after you cash your first check!6 Just download the free app and use the promo code GO2get5 when cashing your check.
Cash checks instantly and get a $5 bonus >>> Get started with Go2Bank
Ingo, a popular check cashing app
You have a couple of options when it comes to check cashing apps, but Ingo is one of the more popular choices. Ingo is provided by First Century Bank, a nationally chartered bank. You get Ingo for both Android and iOS and it’s pretty simple to use. Ingo works like this:
- install the app and enroll using your debit card, PayPal account, prepaid card or credit card
- deposit a check by snapping the front and back of your check with the app
For a fee (2% or 5%, depending on the amount and whether the check is machine printed) you can get the money from the check within minutes. Alternatively, you can deposit a check free of charge but if you do so you need to wait 10 days for your funds.
What do users say about Ingo? Android users are happy with the Ingo app, with a total of 17,153 users rating it 4.2 / 5 on average. Users like that it’s easy to use and that you get a discount on instant deposit fees if you regularly use the app.
iOS users looking for an instant check cashing app also like Ingo, rating it 4.1 / 5 while suggesting that it hardly causes any glitches. Just like Android users, however, there are some complaints about poor customer service.
Ingo is also directly integrated into several other apps like Go2Bank, so you can its fully functionality without downloading a standalone check cashing app.
Check cashing apps like Ingo
We’ve taken a look at Ingo but there are other instant check cashing options you can choose from.
Lodefast Check Cashing App
The Lodefast app, provided by Lodestar financial services, worked just like the Ingo app. You paid between 3% and 5% to get instant access to a check’s funds. Depositing a check was equally simple, you just grabbed an image with your phone. The Lodefast check cashing app was discontinued and is no longer available on the App Store or Google Play.
iOS users were not keen on the Lodefast check cashing app, rating it 2.7 / 5. Reviewers mainly complained about the slow speed at which checks clear and poor customer service. Android users also complained about the same issues, scoring the app 2.9 / 5 with customer service frustrations a particular pain point.
ACE Mobile Loads
ACE Checks lets you deposit checks using their app, but you can only use ACE Mobile Loads to deposit a check on to your ACE Elite Card. Nonetheless you can get access to your money in minutes, permitted you pay a 2% to 5% fee.
ACE offers an app for Android and iOS, but iOS users are not happy. ACE Mobile Loads gets 2.6 / 5 on iOS, with users complaining that the app refuses to recognize checks while also complaining about account freezes. Android users are less frustrated, scoring ACE Mobile Loads 3.8 / 5, with some users happy with its ease of use while others complain about unresponsive customer service.
More on Apps like Ingo
Using your bank’s app for cashing checks
Not everyone needs instant check cashing – some people are happy to wait a day or two. If that’s you, consider using the check cashing feature that’s built into your bank’s mobile app. Most major banks have decent mobile apps, including Wells Fargo and Citibank.
You will rarely get access to the funds instantly, but fees will be low or non-existent. For many people, depositing a check with a standard mobile banking app will be a good solution, but consider one of the instant check cashing apps we mentioned if you don’t bank with a mainstream bank or need your money faster.
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- 5 Activated, chip-enabled debit card and opt-in required. $15 fee may apply to each eligible purchase transaction that brings your account negative. Balance must be brought to at least $0 within 24 hours of authorization of the first transaction that overdraws your account to avoid the fee. Go2Bank requires immediate payment of each overdraft and overdraft fee. Overdrafts paid at Go2Bank’s discretion, and Go2Bank does not guarantee that it will authorize and pay any transaction. Learn more about Overdraft Protection (PDF).
- Direct deposit early availability depends on timing of payor’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period.
- Monthly fee waived whenever you receive a payroll or government benefits direct deposit in the previous monthly statement period. Otherwise,$5 per month.
- See app for free ATM locations. $3 for out-of-network withdrawals. ATM owner may also charge a fee. Limits apply[/eft_note]
- Promo code offer is valid only for users who successfully use the $5 promo code in the GO2bank mobile app before the promo code expires on 12/31/22. The $5 promotional incentive will be added to your approved check amount and transaction detail will be maintained in your GO2bank transaction history. All checks subject to review for approval. Fees may apply. Visit https://www.ingomoney.com/partners/greendot-terms-conditions/ for complete details. Not valid with any other offer. Limit one promotional incentive per GO2bank user and one redemption per registered account. Offer value of $5.00 may only be added to your registered account and may not be redeemed for cash. Offer sponsored by Ingo Money. GO2bank does not endorse or sponsor this offer.