The Bank of America is a worldwide investment bank and financial services provider based in the United States of America. It is the country’s second-largest banking institution. The purchase of BankAmerica by NationsBank in 1998 resulted in the formation of this bank. Furthermore, Bank of America has launched a mobile banking service for its account customers. Bank of America customers may now deposit checks via the bank’s mobile banking app. To this end, we have made this post to show you how to endorse a check for the mobile deposit bank of America.
Mobile check deposits are possible using Bank of America’s mobile banking app and any Smartphone with a built-in camera. However, the amount you may deposit through mobile deposit is limited.
The mobile transaction limit is $10,000 per month for three months old or older accounts. The mobile transaction limit is $2,500 per month for less than three-month-old accounts.
Furthermore, customers who have been a member of Bank of America Preferred Rewards for less than three months have a deposit limit of $25,000 per month, while users who have been a member for more than three months have a deposit maximum of $50,000 per month.
How to Endorse a Check for Mobile Deposit Bank of America
When somebody pays you with a check, you must generally sign the back of the check before depositing it into your account. Endorsing the check means signing the back of it. What you put on the check when you sign it—how you endorse the check—is determined by what you desire to accomplish with it.
Endorsing a check authorizes your bank, you, or a third party, to settle the check’s funds. To sign a check for a mobile deposit, you must first endorse it. “For mobile deposit only to [Bank of America account number] account,” wrote Bank of America.
Sign your name underneath it but inside the check’s approval section.
This approach expressly asks the bank to deposit the check into the account specified in the endorsement. Bear in mind that the check writer’s bank may have a copy of the check. The front and back of the check are usually shown to them. If you don’t want people to see your bank account number, put “For Mobile Deposit Only” on the check before signing it. This is a less secure alternative than putting the account number in the message.
On the other hand, most banks will adhere to the guidelines and accept the check for deposit. Please remember that most banks will put the account number on the reverse of the check during check processing. Likely, your bank account will still be accessible.
How to Use the Bank of America Phone App to Deposit Checks
The Bank of America Phone app has a function that lets you deposit checks directly from your phone. You won’t have to revisit the bank if you follow this instruction to learn how to deposit a check from your phone.
From the AppStore, download, install, and launch the Bank of America app (or update the app to the latest available version). If you’re using this app on an iPhone, be sure you update it to the latest version.
Use your online account credentials to log in to your Bank of America account.
In the upper right of the screen, tap the Deposit button. If you’re using the service for the first time, you’ll need to confirm (through the verification button) that you want to use it.
Select “Front of Check” from the drop-down menu.
Place the phone directly on top of the check to see the full check on the screen. Make sure it’s perfectly motionless as well.
Using the phone’s camera, scan the front of the check. Make sure there’s enough light. You’ll have to rescan the check if the image is hazy at this stage. If your phone has a front-facing flash, shine some light on it, and the device will provide extra light through the flash if necessary.
Write “For phone deposit only to [Bank of America account number] account.” or “For Deposit Only” on the check’s back. Both will function, but the app specifies that it needs to see For Deposit Only.
Select “Back of Check” from the drop-down menu.
Rescan this side of the check by flipping it 180 degrees upwards. Ensure that the picture area that says “For mobile deposit only to [Bank of America account number] account” displays on the left side. The “Original Document” watermark should also be upside-down in the picture. To guarantee that your picture scan is approved, use discretion. Place your phone’s camera on this side of the check.
Select “Deposit To” from the drop-down menu. Choose the account where you desire to deposit the check.
Select “Amount” from the drop-down menu. This is a verification box because the phone can’t distinguish the check’s ICR (Intelligent Character Recognition) picture.
Starting with the dollar amount, type the amount from the box into the box. Make sure to include your cents part at the end of the total. You’ll need to enter 00 for this section even if the check is for an even amount.
Finally, press the “Done” button.
Double-check the submitted amount and accounts for accuracy. When set, tap the “Continue” button.
Tap the “Make Deposit” button in the top-right corner.
Take a note of the confirmation number that appears on your screen (optional). Once you’ve written down your Confirmation code, tap the done button.
Bank of America Mobile App Benefits and Features
Aside from check depositing, bank of America mobile offers several additional advantages. This is true since you can manage your account anywhere, whether at home or on the road. The service is smooth, quick, and safe. You can also do the following actions:
- Check your account balances, deposit checks, see statements, pay bills, move funds across accounts, and set up email, SMS, or push notifications for alerts. It’s also feasible to look for cash-back offers.
- Make a payment and make a transfer. Customers may schedule or pay bills electronically from home, the workplace, or wherever they have an internet connection. You may also move money across your accounts quickly and securely.
- Create a budget and keep track of it. This tool allows you to create a budget, track spending in your accounts, and see where your cash goes.
Frequently Asked Questions
Can I endorse a check for the mobile deposit bank of America?
Yes. Using the methods outlined above, you may endorse a check for the mobile deposit bank of America.
Do I have to sign a check every time?
Some banks may accept an unsigned check. Some banks will provide this service, albeit with a monetary restriction or a lengthier hold on the cash than usual. When you deposit the check, you’ll need to verify your identification. Even if your bank doesn’t need it, some kinds of checks may require an endorsement.
What is the aim of endorsing a check?
When someone gives you a payment with a check, it’s similar to receiving cash, but there are a few more processes. You have the option of processing the check at the issuing bank (the bank indicated on the front of the check) or depositing it into your account at your bank.
In any case, you’re giving the bank permission to cash the check on your behalf. Authorizing a check by signing the back of it is a security measure that lets the bank verify that you are the intended beneficiary of the cash while still allowing you to complete the transaction.
Is there a limit on the money I may deposit by mobile phone?
Yes. A contribution restriction may be imposed by your institution. The amount of funding you may deposit via your cell device is frequently capped by banks. Based on the institution, they might be recurring monthly limitations.
Your institution will set a contribution limit, or the largest limit you are allowed to put for a given time frame.
This sum might range from a few thousands of dollars to more than $100,000. Fake check protection is achieved by digital check depositing limits. If you ever need to make deposits that are bigger than the limits set by your institution, you could do it in an office or an ATM.
Is it possible for my bank to hold monies placed through cell phone?
Yes. Your institution may retain the funds you transfer with your Mobile in the same way that a conventional cheque is held. A common reason of “restricted receipt of cash” is posting your cheque too later in the day. If you fail the check depositing deadline, you might have to stay an extra business day for the check to clear and receive your funds.
In conclusion, checks come with various merits. And if you desire more help regarding how to endorse a check for the mobile deposit bank of America, the tips above will aid you immensely.
I am Lavinia by name and a financial expert with a degree in finance from the University of Chicago. In my blog, I help people to educate by making wise choices regarding personal investment, basic banking, credit and debit card, business education, real estate, insurance, expenditures, etc.