How Safe Are Mobile Deposits Of Checks? - Sentry Bank (2024)

FAQs

How Safe Are Mobile Deposits Of Checks? - Sentry Bank? ›

Even if a thief were able to grab your information in transit from your phone to the bank, the information is encrypted. The image of your check also isn't stored on your phone, so you don't have to worry about accidentally sending it to someone else later.

Endorse the back of the check. Take the check and deposit slip to a bank teller. Confirm with the teller how much of the check you want to deposit and how much you want to receive in cash, or you can deposit the entire check. The teller will hand you a deposit receipt.

Discard the check.

Never deposit any check or money order from a stranger who asks you to wire the money back to them. The check will bounce, and you will be forced to repay the bank as the account holder.

If you're concerned about protecting your banking information online, you may be wondering whether mobile cheque deposit is safe to use. The short answer is that mobile cheque deposit is as secure as your other online and mobile banking functions.

If you have never used your banking provider's smartphone app to deposit a check previously, it is a safe, quick, and convenient way to make your life simpler. However, like every aspect of your money and banking habits, you should be aware of ways that scammers may try to use mobile deposits for illegal personal gain.

It's a good idea to keep your check for 30 days or until you are sure that the full amount has posted to your account. After you have confirmed the deposited funds have been applied to your account correctly, destroy the check or mark it "VOID."

When a scammer has your bank account and routing numbers, they could set up bill payments for services you're not using or transfer money out of your bank account. It's tough to protect these details because your account number and routing number are printed right at the bottom of your checks.

They may send you a fake check and ask you to deposit it, then request that you send them a portion of the funds back, claiming it's for fees, taxes, or some other reason. By the time the bank realizes the check is fake, you're left responsible for the full amount.

Is it better to deposit a check in person or online? ›

If you deposit your check via the bank's mobile app or at the bank branch, the money should be available more quickly than if you deposited it via mail or an offsite ATM. If your check exceeds $225, you may also access your money more quickly by cashing the check and depositing the cash itself into your account.

Your best bet: Don't rely on money from a check unless you know and trust the person you're dealing with.

The following are not eligible for Mobile Deposit: international checks, U.S. savings bonds, U.S. postal money orders, remotely created checks (whether in paper form or electronically created), convenience checks (checks drawn against a line of credit), non-American Express traveler's checks, cash, checks that are ...

Mobile check deposit works by using a service called remote deposit capture. Think of it like scanning a document onto your computer. Essentially, remote deposit capture lets you take a digital image of your check. Your financial institution will then collect the images and process your deposit.

If you find that a deposit did not go through, don't try to re-deposit the check by smartphone unless you've received a message specifically indicating that the transaction was not accepted. Be sure to hold onto your check until you're certain the funds have been credited to your account.

How long does a mobile deposit take? 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.

Depositing checks at the ATM is easy and usually seamless, but it can come with some risks. The ATM can have trouble reading your check or malfunction, leaving you to visit the bank to fix your issue. Also, ATM fraud can occur when scammers steal your personal and financial information.

Writing For Deposit Only in the endorsem*nt box above your signature is called a restrictive endorsem*nt. This is a more secure way to endorse checks since it ensures that the check can only be deposited into an account bearing the payee's name. You also cannot cash the check or take a portion of the amount in cash.

If you're holding a check and wondering about the easiest ways to deposit it, several options are available to make the process hassle-free. You can deposit a check via mobile deposit, at an ATM or by visiting your bank or credit union.

While it might seem scary to make a mobile deposit of your check through your phone, the process isn't too far from depositing it through an ATM – as long as the hardware and software on your phone aren't compromised, there shouldn't be any problems.