You would just convert the cash into a money order, and then deposit it that way. Alternatively, some of these digital banks (like BlueVine) actually do allow you to deposit cash. From BlueVine's website:
"Yes, you can deposit both cash and checks with your BlueVine Business Bank account. Deposit checks anywhere, anytime through our mobile app by taking a photo of your check and deposit cash at 90,000+ retail locations with our partnership with Green Dot. For a list of locations, visit https://www.attheregister.com/locations."
This is what I found about Green Dot's cash deposit: "The most you can deposit to your account in cash is $2,999 in the aggregate in any day. You also may not deposit cash to your account at any time your account balance exceeds $2,999. We may, in our sole discretion, let you deposit more money to your account if you deposit by direct deposit or other methods."
Green Dot has limits and you it costs you a lot to deposit $10,000 - not to mention the hassle. I didn't know that you can you deposit a cashier's check via a mobile app! I will check that, thank you!
Just applied, but to be frank, I'm a bit hesitant given the bad press so far. Can you speak to the improvements you all have made recently to remedy those issues (mostly centered around customer support)?
These "digital first" banks are a lot more nimble for small businesses, and have almost none of the same fees that you'd see at a larger bank. And for a lot of us that run remote businesses, we don't deal in cash and therefore, don't need access to brick-and-mortar branches (which for me, is one of the few redeeming qualities for a larger bank).
However I will say... that the Achilles heel for these newer digital banks is customer service. If they're going to lean into doing everything on the internet, they need to be investing heavily into live customer support. That's been an issue for me with several banks in the past.
@tmcpro – I'm in a similar situation as the rest of these people posting (Azlo customer now looking for a new bank). Can you elaborate on how you all have resolved the customer service issues that seem to be plaguing Novo on the review sites?
