How to Deposit a Check Online: Your Complete Guide
Are you wondering how to deposit a check online? If so, you’ve come to the right place. Today, paper checks and electronic banking services work together seamlessly, and it’s usually easy to deposit and accept checks online with your mobile device.
If you’re running a business, you’re probably tired of waiting weeks to receive paper checks in the mail or watching stacks of check payments pile up on your desk. Fortunately, there are eCheck processing services that will make it easy for you to deposit those checks online and get paid quickly, securely, and easily.
In this blog, we’ll discuss how to deposit a check online and why electronic check deposit is such a great option for high-risk and high-volume businesses.
Is it Safe to Deposit a Check Online?
Mobile check deposit has become more popular in the past several years, and banks have invested heavily in security measures to protect your personal information.
According to the Check Clearing for the 21st Century Act, banks can legally substitute mobile deposit checks. Because of this rule, eChecks are seen as the legal equivalent of physical checks.
To ensure this process is as secure as any other online or mobile banking function, most banks use encryption and enhanced security measures to protect your financial and account information from end to end.
5 Steps to Deposit a Check Electronically
If you’re depositing a check as an individual, your best bet is to use your bank’s mobile check deposit service.
Here’s everything you need to know about how to deposit a check online:
Step 1: Open your banking app
Grab the check, sit down somewhere with good lighting, and get your check. Once you’re in your banking app, find the electronic check deposit option.
Step 2: Endorse the check
Next, flip your check over and sign the back in black pen. You may also notice a small box that says, “check here for mobile deposit.”
Check the box and write the name of your bank next to it. This security measure prevents your check from being wrongly deposited into multiple bank accounts.
Step 3: Take a photo of the check (front and back)
Using your bank’s mobile check deposit window, take a picture of your check.
Most bank apps have one field for a photo of the check’s front side and another for a picture of its back side.
Ensure the check is on a dark background and that both photos get the entire check in the frame rather than cutting off important details like account numbers, names, or contact information.
Step 4: Input deposit amounts and account
Once you’ve taken photos of your check, manually enter the check amount for deposit, and choose the account where you want to receive the deposit.
Remember: Double-check these numbers. A mistake could delay the check deposit process.
Step 5: Click “deposit”
Once you’ve photographed and endorsed your check and entered deposit information, click “deposit.” Most banks process and deposit mobile checks within 3-5 business days.
Can I Deposit Checks Electronically as a Business?
The process is a little different if you want to deposit electronic checks for your business.
We recommend setting up with Seamless Chex eCheck service for same-day check processing.
Here are a few of the perks:
- Instantly verify customer bank accounts and accept checks online.
- Enjoy next-day deposits into your business bank account.
- You can accept payments online, via payment link, or over the phone.
- Access recurring billing and email invoicing options to streamline your operations.
- Store customer payment methods.
- Bill bank accounts with a routing/account number.
- Verify your checks with our verification services or use plaid.
- Enjoy streamlined shopping cart integrations.
- And more.
While learning how to deposit a check online is easy for individuals, it can be challenging for businesses - especially those in high-risk or hard-to-place industries.
Fortunately, Seamless Chex makes your life easier by allowing you to avoid abusive processing and payment handling fees, enjoy 99.1% approval rates, and process electronic checks with no reserve.
There are many situations where depositing a paper check online is more convenient than taking it to a bank.
Fortunately, the process has gotten easier and faster for businesses in high-risk and hard-to-place industries.
By following the tips in this post, you can deposit your check and get your funds faster, which allows you to scale your business and focus on what you do best.