Ingo Money Inc. this week introduced a new check-splitting feature that enables users to cash a check via a smartphone app and send the funds instantly to multiple accounts, according to a press release.

Ingo Money also announced new partner integrations to enable direct funding of PayPal accounts and make accelerated payments to thousands of bank and private label credit card accounts via the Ingo Money app and First Century Bank.

"More than 138 million Americans struggle to make ends meet, and check deposit delays and reversals wreak havoc on their finances," said Ingo Money CEO Drew Edwards. "The new features and funding options in the Ingo Money App make it even easier for them to unlock funds safely and quickly and meet their financial obligations without the fear of bounced checks. Now it's possible to deposit funds into almost any bank or prepaid card account, pay a credit card bill and fund a PayPal account in just minutes, all through a smartphone and from a single check."

The Ingo Money app enables users to cash checks up to $5,000 and send the funds to the accounts of their choice in minutes for a fee. Ingo Money did not disclose the fee in the announcement.

All checks submitted in the app are processed, cashed and funded by First Century Bank N.A., a national bank. Funds from approved checks are transferred to user-selected accounts immediately after they are approved and are guaranteed, which protects account issuers and customers from any risk or liability on return.