Cheque Deposit
From: Financial Consumer Agency of Canada
How to deposit a cheque with your mobile device
You can deposit a cheque into your account from anywhere by taking a picture of it using an app on your smart phone or tablet. Many financial institutions in Canada now offer this service. This process is known as a remote or electronic deposit.
The process is simple. Start by downloading your financial institution's official banking app. You can find a link on their official website or from your mobile device’s app store.
Deposit checks while on the go With GoBank, depositing a check is as easy as snapping a few pics on your smartphone! Forget about branches, check cashers, and ATMs. No more business hours to think about. Skip the trip and the long teller lines. Avoid any check. Select “Deposit Checks” on the left side once you press the main $ button. Enter the amount of the check and click 'Front Image'. Center the check in the camera and wait for the app to snap the image. Then make sure you have endorsed the check with 'For Mobile Deposit. I guess I am surprised by the question, it seems so basic. It means to deposit into your bank a paper check, or cheque (American spell it check, British people spell it cheque, also in French it´s called. You can deposit a cheque into your account from anywhere by taking a picture of it using an app on your smart phone or tablet. Many financial institutions in Canada now offer this service. This process is. It is possible to deposit cash or checks in your bank account using a deposit-enabled ATM. With the growing availability of mobile deposit, though, you can just stay home, take a picture of your check.
Follow the instructions on your banking app to deposit your cheque.
Common steps include:
- logging in to your app
- selecting the option to deposit a cheque
- taking a picture of the front and back of the cheque
- confirming the details of your deposit
- storing your cheque until it has cleared
The process is secure and your financial information is not stored on your device.
What to expect when depositing a cheque with your mobile device
Be aware of eligibility, hold periods and fees as they may differ from in-branch banking.
Eligible cheques
Check with your financial institution or your account agreement to see which cheques you can deposit using electronic deposit.
Cheques that are eligible can include those that are:
- made out to you
- made out to a person you have a joint account with
- issued by any level of government in Canada
Be sure that you use the original version of the cheque, not a photocopy, PDF or printout and that the cheque hasn’t already been deposited.
Money orders, bank drafts, certified cheques and travelers cheques may also be eligible for electronic deposit. Check with your financial institution.
Hold periods
Hold periods for cheques at banks and other federally regulated financial institutions may apply to electronic cheque deposits.
Ask your financial institution when funds from a mobile cheque deposit will be available.
Deposit fees
Depending on the type of account you have, your financial institution may charge a fee to deposit cheques electronically.
Read your account agreement carefully and check with your financial institution.
Electronic deposit security
Make sure you are using an official app from your financial institution to deposit a cheque electronically. By doing so, your financial information will not be stored on your mobile device.
When you use your financial institution’s official app, all financial information is securely encrypted. Your personal information is turned into an unreadable code as it is sent to your financial institution electronically. Your financial institution uses special information, such as a password, to de-code the information and deposit your cheque securely.
Cheque Deposit Slip
Avoid using public or free Wi-Fi connections when making an electronic deposit or any other financial transactions.
Find out about protection from unauthorized transactions when banking online.
Fraud risks
There are two types of fraud that could occur with electronic cheque deposit: double presentment and identity fraud.
Double presentment
Double presentment is when the same cheque is deposited twice.
Depositing a cheque
Make sure to only deposit a cheque once, either in person or electronically. If you mistakenly deposit a cheque more than once, contact your financial institution immediately.
After completing your deposit, mark the front of the cheque so that you know it has been deposited.
Purposefully depositing the same cheque more than once is considered fraud. Fraud is a serious criminal offence that is punishable by a prison sentence.
Identity fraud
Identity fraud is when someone steals your personal information and uses it to their advantage, like to access your bank account.
Because electronic cheque deposit requires you to log in to your financial institution’s app, you could be at risk of identity fraud:
- if you haven’t protected your mobile device with a password and it falls into the wrong hands
- if you use public or free Wi-Fi connections when making an electronic cheque deposit
Hsbc Cheque Deposit Machine
Using public and free Wi-Fi connections can expose the personal information you store on your mobile device to fraudsters, especially if you are logged in to your financial institution’s app.
Protect your personal information when using electronic cheque deposit by:
- using passwords to protect your device using a private and secure internet connection
- logging out from your financial institution’s app when you are finished
Get more advice on how to protect your mobile device from fraud.
Alternatives to electronic cheque deposit
If you are not comfortable with this way of depositing a cheque, you can:
- use an automated teller machine (ATM)
- go to your financial institution and deposit the cheque with a teller’s assistance
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Cheque Deposited
How mobile deposit works
Explore these simple steps to deposit checks in minutes.
1. Download the Wells Fargo Mobile app to your smartphone or tablet.
2. Sign on to your account.
3. Select Deposit in the bottom bar. Or, use the Deposit Checks shortcut.
1. Select an account from the Deposit to dropdown. If you have set up a default account, it will already be pre-selected.
2. If you want to create or change your default account, go to the Deposit to dropdown and select the account you want to make your default, then select Make this account my default.
1. Enter the check amount. Your account’s remaining daily and 30-day mobile deposit limit will also display on the screen.
2. Make sure the amount entered matches the amount on your check, and select Continue.
1. Sign the back of your check and write “For Mobile Deposit at Wells Fargo Bank Only” below your signature (or if available, check the box that reads: “Check here if mobile deposit”).
2. Take a photo of the front and back of your endorsed check. You can use the camera button to take the photo. For best results, use these photo tips:
• Place check on a dark-colored, plain surface that’s well lit.
• Position camera directly over the check (not angled).
• Fit all 4 corners inside the guides on your mobile device’s screen.
1. Make sure your deposit information is correct, then select Deposit.
2. You’ll get an on-screen confirmation and an email letting you know we’ve received your deposit.
3. After your deposit, write “mobile deposit” and the date on the front of the check. You should keep the check secure for 5 days before tearing it up.
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Mobile deposit is only available through the Wells Fargo Mobile® app. Deposit limits and other restrictions apply. Some accounts are not eligible for mobile deposit. Availability may be affected by your mobile carrier's coverage area. Your mobile carrier's message and data rates may apply. See Wells Fargo’s Online Access Agreement for other terms, conditions, and limitations.
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