Save gas and save time by using your smartphone or mobile device to make bank deposits. Why drive to the bank when you can deposit your checks right where you stand (or sit). If this old dinosaur can handle the task, so can you.
Most, if not all financial institutions have their own banking app to make it easier for you do to simple things such as check your account balances, make a deposit, pay a bill, transfer money and more.
Honestly speaking, I haven’t ventured too far into anything beyond checking balances and depositing checks. There’s something about navigating around on such a small screen that makes it less than desirable for me to do more complicated transactions.
Depositing Checks via Mobile Device
Once you download your bank’s app, it’s as easy as signing on to your account using your smartphone and taking a photo of the front and back of the check. Wait; let me rephrase that last sentence. It should be as easy as signing on and taking a photo of the front and back of the check, but sometimes the app doesn’t like the way the picture turns out. The most difficult part of the entire process is taking acceptable photos of both sides of the check.
Here’s a typical run through of the process:
- Download the app of choice (I use one for my commercial bank and another app for my credit union).
- Using your mobile device log into your bank account (typing in those long and hopefully secure passwords are a killer on the small device).
- Select the appropriate menu option that will allow you to deposit a check.
- Select the account into which the check will be deposited and insert the dollar amount of the check.
- After telling the app the amount of the deposit, it’s time to take a photo of the front and back of the check. Some apps will automatically snap a photo once the device is properly positioned over the check. Other apps allow you to snap the photo yourself.
- Once the photo is taken, you have the option to use it or discard it in favor of a better photo. The photo taking process is the longest part of this journey. Tip: placing the check on a dark background seems to quicken the process.
- Once acceptable photos have been taken, finish the transaction by submitting the information.
- Make sure you get a confirmation that the check was successfully deposited. Each financial institution acknowledges receipt of deposit differently. My commercial bank sends me an email with a scanned image of the check (image does not include routing or account number, just in case the email ends up in the wrong hands). My credit union sends a confirmation email minus the image.
Once the check is deposited and accepted, you should write “Mobile Deposit” along with the date deposited across the top of the check and retain it for your files. My commercial bank instructs me to save the check for 7 days while the credit union advises me to retain the check for 60 days. The choice is yours. Once it’s been deposited and clears, I see no need to keep the check any longer.
If you’re like me, all you need to do is go through the process once (or maybe twice) and you’ll become a convert as I have. I’m hard-pressed to drive to the bank anymore just to deposit a check. Yes, I’m usually a little late to the technological party, but at least I’m at the party now.