Once upon a time, the idea of “making a deposit” might’ve meant adding some coin to a pot of gold you hid in a cave. Fast forward to the modern era and … you still had to take your paper check to your nearest bank branch or ATM. Fortunately, banking is always evolving. These days you can deposit a check from the comfort of your living room in just a few minutes, thanks to the mobile deposit feature in your bank’s mobile app .
Depositing a check to your account using mobile check deposit is a typically straightforward process. Here are the general steps, though specifics may vary based on the app you’re using and the financial institution you bank with:
Endorsing a check is a security measure that helps the bank verify you as the rightful recipient for the money. It additionally serves as your authorization to them that they should process the transaction.
Most checks have a box marked “endorse here” or something similar, as well as an indication not to write below a certain point. It’s best to limit your endorsement to the dedicated box at the top. You’ll typically need your signature, your mobile app may provide you with instructions such as adding “For mobile deposit only.” Following these specific instructions carefully can help to process your check correctly.
Although you now know the basics of how to conduct a mobile deposit, you may still have a few additional questions. If you'd like more information, you can always inquire in person at your nearest bank branch:
While many checks can be deposited with your phone, there are a few exceptions. Most personal, business and government checks are eligible, but other cash equivalents like money orders or savings bonds may not be. International checks may not always qualify either.
Most financial institutions have some form of limits on daily, weekly or monthly deposits. Checks exceeding this limit may need to be deposited in person. It’s best to check your institution’s limits before attempting a mobile deposit on a large check.
Mobile deposits can take varying amounts of time to clear, depending on several factors including each party’s financial institution, account histories and account types. Funds are usually available shortly after deposit but may sometimes take several business days to clear.
Mobile deposits are considered as safe and secure as any other bank-approved method of depositing a check. The Chase Mobile ® app, for instance, never stores passwords or image data on your device when using Chase QuickDeposit℠. Additionally, mobile deposits to FDIC-insured accounts are protected the same as any other deposit.
Just as with a traditional deposit, there’s always a possibility that a check may bounce. To ensure the funds are transferred correctly, it’s wise to hang onto your checks until the deposit has cleared. This way, you have the check on hand in case anything goes wrong during that time.
Mobile deposit is just one of the ways in which banking is always evolving. Using your bank’s mobile app and your phone’s camera, you can deposit a check to your account quickly, any time you want. Whether you’re busy juggling life, on the go to your next gig or just sitting on your couch in your PJs, mobile deposit helps you get paid on your own terms.