Mobile deposit—using your mobile device to take a picture of a check and depositing it via a special app—has been available for several years. Still, some people feel uncomfortable using what is one of the most convenient banking innovations since direct deposit. Here are responses to common concerns people have about mobile deposit:
I don’t know what to do with the check after I deposit it.
After making a mobile deposit, The First National Bank recommends storing the check in a safe place until you see that the check has been successfully deposited into your account on your account statement or through Online Banking. You should then store the check in a secure location for 30 days after which time you should destroy the check.
I’m afraid I’ll make a mistake.
Unlike making a deposit through an ATM or branch teller, you’ll still have the original check. If you make a mistake, take the check to your nearest branch to fix the error.
I won’t get a receipt for my mobile deposit.
Within the App, there is a Deposit History that informs customers of their recent mobile deposits. You will receive a text message to your cell phone as well as a notice in the mail if a deposit is rejected.
It feels too different.
Did you know most banks already digitize your checks after you deposit them? The only thing that will change is the person taking the picture. Now you’ll be the one capturing the image instead of your bank.
I won’t be able to access my funds as quickly.
If you submit a mobile deposit before 4:00pm on a bank business day, your funds will be available the next business day. Deposits made after 4:00pm will be processed the next business day and available the business day following. Deposits will not be seen in Online or Mobile Banking until after they post that night.
Mobile deposits aren’t secure.
On some level, you’ve probably been using online banking services for years. Mobile deposit is just another part of that service and is as secure as paying bills online or accessing your statement balance from your phone. If you take the same precautions you use when you do the rest of your online banking, you should have no problems with mobile deposit.
Save time, gas and effort with mobile deposit from The First.
Do you have a question about mobile deposit? Ask it in the Comments section or check out FAQs.
Mobile banking policies differ. This blog outlines mobile banking policies for The First National Bank of Newtown.