Technology has advanced, and so has the way of doing business. At the forefront of this, technological advancement is the banks. In time past, if you wanted to cash a check, you had to visit a bank, but nowadays, the case is different. It is now possible to cash that check through your mobile phone. Provided your phone has a camera, and you have installed a mobile cashing app, you are all set.
Do you want to know more about how mobile check cashing works, how mobile check cashing apps for prepaid card loading work, and a bunch of other cool stuff about mobile cash checking for prepaid card loading? Then read on, and you will know all about it and much more.
Let’s get right into it.
How Mobile Check Cashing Works
Although cashing your checks through your phone is an easy endeavor, there are a few things that you will require. First of all, you need a check which is addressed to you. You will also need a mobile phone with a camera and mobile check cashing apps.
Let us examine each of these requirements closely.
Cashing a check using your mobile is not only revolutionary, but it is also extremely convenient. It is important to note, though, that you cannot cash a third party. Also, there is a minimum and maximum amount of cash that you can check using mobile apps.
A Mobile Phone with A Camera and Check Cashing Apps
It does not matter if you are using an Android or an Apple operating system, provided it is a smartphone, then you can download the apps that you need to cash your checks. These applications are compatible with all smartphones.
The Mobile Apps Which Allow You to Cash Your Check
There are several mobile apps that you can use to cash your check. Their suitability depends on your particular needs. Some banks also have apps, which you can use. Do not worry about the apps since we shall focus on the big ones in the market.
Follow these steps to start the cashing process:
- You will need to sign the back of the check. The signature will endorse the check.
- Take a picture of both the front and the back of your check.
- Use your check cashing app to send the picture of both sides to your bank or the financial institution you want to cash your check through.
At times, the bank will require you to type some information like the check number, the amount, and the payee. All this information is readily available on the check.
Once you fulfill these requirements, a computer will process the information, and the depositing process will commence. Make sure that you provide the correct information and that your pictures are clear. If you submit blurry photos, then the computer might reject the application. If this happens, take better-quality pictures and resubmit.
Mobile Check Cashing Through Bank Apps
Most mobile check cashing apps are independent of any bank affiliation and are usually operated by third-party entities. But you can always choose to use your bank’s app if your bank has such a facility.
One of the advantages of using your bank’s app is that it allows you to deposit a check after-hours. Each bank has a set of rules regarding the depositing process and other essential details. The availability of your deposited funds depends again on the bank, with some banks; the funds can become available immediately. The amount of cash also matters. Smaller amounts usually take shorter to reflect in your account than a larger amount.
Mobile Check Cashing for Prepaid Card Loading
Maybe you do not have a bank account, or you do not want to cash your check through your bank account for one reason or another. You can still use mobile check cashing applications. It is possible to transfer the value of the check into your prepaid card directly.
Prepaid card loading takes more time as compared to direct deposits. It takes 10 days for the process to on a card like Net spend Visa Prepaid Card.
Top 5 Mobile Check Cashing Apps for Prepaid Card Loading
When it comes to mobile check cashing apps, there are many options in the market. Below are some of the better-known applications.
1. Bank’s Mobile Checking App
Many banks have mobile checking apps. Some of these banks include Wells Fargo, Bank of America, and Chase bank. The most significant advantage of using your bank’s cashing app is that there is a direct connection between your mobile app and your bank account, thus eliminating the need for a third-party entity. Apps that the banks provide might have other additional features that third-party providers might not offer. The downside though, is that the apps are tied to a particular bank. Therefore, if your bank’s app does not run well or you do not like it, you cannot change the application. The only solution is to change banks or decide to use a third-party application.
2. Ingo Money App
One of the best-known mobile checking apps is the ingo money app. When you register for the app, you must either link a prepaid card, debit card, credit card, or a PayPal account. With the app, you just take a picture of the front and back of the cheque and then confirm the amount.
You can cash checks that range from $5 to $5000. Once you complete the process, the transaction takes only a few days, and the money reflects into your prepaid card or linked account. However, for immediate cash access, you will have to pay a fee of 1% to 4%. But if you are not in a hurry with the cash, you can wait for 10 processing days, and you will not be charged anything.
If you are receiving a check from the government or it is a payroll check, then you will pay 2% to access your cash immediately. For other checks, you will have to pay 5% if you want to access your funds instantly.
3. ACE Mobile
Ingo Money provides ACE Mobile Loads. If you have an ACE Elite Prepaid Debit card, this is the best app to load money from a check directly to your card. To deposit the check, all you need to do is click on “Deposit Check Funds.” After this, you will get prompts that will direct you to the steps that you should follow. The steps are easy.
The check amount that you can deposit using this app is from $5 to $2500.
Since Ingo provides this app, the fees are similar on both platforms. If you want the cash fast, then you can pay the processing fee, or you can wait for 10 days until your check matures.
The app is also handy if you want to transfer cash to your bank account or your PayPal account.
4. Brink’s Prepaid Mobile App
With this app, you can transfer funds from your check to a prepaid Master card, debit card. The good thing with the card is that it has almost the same features as that of a bank debit card. There are four ways in which you can top up funds to the Master debit card. You can schedule direct deposits, transfer money from another bank account, transfer funds from another Brink card, or add funds by loading cash from a check.
It is easy to cash a check using the app. All you have to do is follow the app’s instructions, which are quite simple.
The fees vary depending on the type of transaction and your membership plan. If you want to access your cash immediately, you have to pay 2% or $5.Other checks are charged 5% or $5 whichever is higher.
5. Lodefast Check Cashing
With this mobile check cashing app, you can load your credit card, bank account, or debit card. The app is compatible with most checks, including handwritten ones. The app processes most of the transactions within an hour, and you will receive your funds shortly after your transaction has been approved. One trick that will speed up the process is linking your Akimbo Prepaid MasterCard to the app.
Depending on the risk of the check, the company charges 3% to 5% of the check amount if you want to access the cash immediately. Government and payroll checks are deemed to be safer, and so their processing fees are lower. But if you do not want to pay any fees, you can wait for up to 10 days to access the cash.
Top 4 Check Deposit Apps for Prepaid Cards
Here are more check deposit apps that you can use to cash your check using your phone.
1. Boost Mobile Wallet
Boost mobile is a company that not only offers a free mobile checking app but also offers its customers a mobile wallet and a prepaid debit card. The company’s wallet provides basic services and it is powered by Wipit. Mobile Wallet Plus is the company’s upgraded wallet account. With the upgraded version, you get Wipit transfers, a Visa prepaid debit card, and Quick Check deposits.
The app is compatible with both Android and iOS operating systems, and it is also free. You can send cash to your friends or business partners, provided they also have a Boost Mobile Wallet account. With the Wallet Plus plan, you get a free Visa debit card. You can use the app to add funds from a check using your mobile to your Visa prepaid card.
With this application, it is easy to carry out several financial transactions on your phone without much of a hassle. With Waleteros, it is effortless to get a prepaid Visa card. To get this card, all you need to do is take a picture of your ID card and a clear selfie. Within a few minutes, you will be issued with a virtual Visa prepaid card as you await the physical card, which you will receive after 10 minutes.
The app is developed specifically for the Latino community. You can deposit your checks into a prepaid Visa card. It is also possible to send cash from abroad to Latin American countries. You do not pay any deposit or monthly fees. If you want to access your money almost immediately, you will be charged a fee, but you can wait for 10 days to access your cash for free.
3. Netspend App
With the Netspend app, you get a Netspend prepaid Visa debit card. With the app, you can cash your checks directly to the debit card. The app comes in handy since you can view the card transaction history, the card balance, and you can send cash to people with the app.
To make the deposit, you need to take a picture of the front and back of the cheque and confirm the amount of cash on the cheque. If you pay a fee, you can withdraw your money almost immediately or wait for 10 minutes if you do not want to pay any transaction fees.
4. Check Cashing Store
As the name suggests, this is a top-rated company where you can walk into one of their brick and motor branches and cash your cheque. The company also has a mobile app with which you can cash your check. As earlier stated, Cash Checking Store has physical branches that make it unique from other apps that are solely online. You will have to find out for yourself the fees that the company charges since it does not offer this information on its website.
Can You Cash a Check After a Mobile Deposit?
Once you have deposited a check through a mobile app and the money reflects into your account, then the check becomes null and void, which means you cannot cash the check. You might choose to keep the check for your records or dispose of it. However, make sure that you dispose of the check-in in a secure manner. You can either shred it or render it unrecognizable.
Once you have cashed the check through the mobile app, you should not attempt to cash it again in a check-cashing store or in the bank. The institutions will know that the check has already been cashed, and you might be charged for financial fraud.
Frequently Ask Questions
Can I deposit a check to a prepaid card?
Yes, it is possible to deposit a check to a prepaid card using mobile apps. Some apps are tied to a particular bank, while others are provided by third-party entities.
How to check prepaid card balance?
Checking the prepaid card balance is easy. Most check cashing mobile apps allow you to check the balance that you have on your prepaid card.
Can I load a prepaid card with a credit card?
Yes. The quick answer is that you cannot load most prepaid cards with a credit card. But you can load a prepaid card using a credit card advance. However, doing this will be very expensive due to the higher interest rates and additional fees.
How do you deposit a check on a prepaid card?
The best way to deposit a check on a prepaid card is by using a mobile app. You can easily deposit the check and load it on your prepaid card by taking a picture of the front and back of the check.
What ATM can I deposit a check on a prepaid visa card?
Unfortunately, it is not possible to use an ATM to deposit a check on a prepaid visa card. The reason is that banks and credit unions do not link this card or their ATMs. In other words, debit cards are not linked to banks and credit unions.
Does a bank allow prepaid cards along with checking accounts?
Yes, you can have a prepaid card and load it directly using your checking account, which means you can transfer money from your checking account to a prepaid card online.
To be able to deposit checks using a mobile phone is quite revolutionary. All you need is a smartphone with a camera and the check cashing apps. You just take a picture of the front, and the back of the check, and the app will do the rest. You can access your cash immediately provided you pay a processing fee, or you can wait for 10 days to access your cash.
The bottom line is that mobile check cashing for prepaid card loading applications makes your banking life way easier.