As most of the stimulus checks have finally landed in mailboxes across the country, PayPal is giving the option to transfer the money directly to the balance. So even those without easy access to a bank account can get easy access to their one-time payment and join the masses by posting memes about it.
On the PayPal website, the company has announced an option to cash a stimulus check directly through its platform. Though PayPal does have a regular check-cashing option, it has waived its fees for the stimulus payments specifically, which is typically one percent. Once it's cashed, the money can be accessed directly through the PayPal app itself, although users will need a PayPal Cash Plus account. The page also specifies that availability is limited, though no specifics are given.
The stimulus checks provide a single payment of $1,200 for all U.S. citizens over the age of 18 and $500 per dependent. They were part of the $2.2 trillion CARES Act, which was passed in March as a means to keep the economy going amid widespread quarantines, business closures and now mass unemployment. While there were plenty of issues with the stimulus payments along the way, there's overwhelming support for a second stimulus package to further help cash-strapped Americans.
Despite the multiple proposals, which range from more one-time payments and a monthly allowance in the vein of Universal Basic Income, the Senate won't be moving forward on any until June when it returns to session. It was a decision that wasn't met kindly, including likely Democratic nominee Joe Biden, who criticized the Senate's decision to postpone the vote.
The former vice president has, however, received plenty of criticism himself over his lack of support for a recurring stimulus payment, particularly as support continues to grow. Some of the criticisms are aimed at the Heroes Act, claiming that another one-time payment doesn't go far enough. Several lawmakers in Congress have supported a possible monthly stimulus check that would be sent out monthly until the coronavirus pandemic is better contained.
If another stimulus package is approved by lawmakers, it could also come with stricter conditions than the first. A bipartisan group of Senators are currently discussing a proposal dubbed The Skills Renewal Act, which would create a tax credit that would cover the costs of training for specific jobs that will be in high demand soon.