Coatesville Savings Bank's Mobile Deposit – Account Holder FAQ
What is Mobile Deposit?
Mobile Deposit is a service available within Coatesville Savings Bank's Mobile Banking Application. It allows you to deposit checks directly into your Coatesville Savings Bank account(s) by taking a picture of a check using your mobile device.
Who is eligible for Mobile Deposit?
Coatesville Savings Bank customers, who are enrolled in mobile banking, maintain an eligible checking or savings account and have accepted the Coatesville Savings Bank's Mobile Deposit Services Agreement(s) are eligible. Enrollment is not guaranteed as some restrictions may apply.
What mobile devices are supported?
Mobile Deposit is currently available for the Android (version 4.1 or higher) and Apple (version 5 or higher) operating systems. The camera needs to be rear-facing and 4+ megapixel resolution with flash. Although some different devices will work for the mobile app, the camera specifications may not be considered optimal for capturing images.
The entire check needs to be captured between the overlay boundaries on a flat, dark surface to ensure proper check imaging.
ANDROID devices – TIP: To capture best image – Tap to focus!
What are the advantages of using Mobile Deposit?
You can securely deposit checks from anywhere, anytime – even if you are not near a Coatesville Savings Bank branch. This saves time and expense by reducing trips to the bank to deposit checks.
How much does it cost to use Mobile Deposit?
Mobile Deposit is FREE for our Coatesville Savings Bank consumer accounts.
Will I be charged by my mobile carrier for this service?
Your standard wireless carrier charges apply.
How long does it take to upload a deposit?
This will depend on the speed of your connection. Wi-Fi transmission submit times are usually in the 5-10 second range. The 3G network transmission times range from 10-30 seconds. Weaker signal strength may result in slower response time.
Do I need to endorse the check I am depositing?
Yes, you are required to endorse the back of the check you are depositing with your signature on the first line and "via mobile deposit" on the second line or as otherwise instructed by Coatesville Savings Bank.
How many checks per month can I deposit using Mobile Deposit?
As a general rule customers can deposit up to 10 checks per day with a maximum of 20 checks per month.
Is there a dollar limit on these checks?
As a general rule customers can deposit up to $1,500 per item and up to $3,000 per day with a monthly maximum of $6,000.
**It is important to track your deposit limits – both count and dollar! If your current deposit puts you over the limits set for daily or monthly deposits your deposit will not be processed. If you have surpassed your monthly limit, the check will then need to be deposited at a Coatesville Savings Bank branch.
What should I do with the check after it has been deposited into my account?
After confirming the check has been deposited into your account, we recommend that you write on the front of the check in ink these words: "Mobile Deposit on DATE" (where DATE is the full date you deposited the check by Mobile Deposit) then securely store the deposited check for a minimum of 45 calendar days. Keep your check in a secure place until you destroy/shred it. You should keep the check for 45 days after deposit to provide sufficient time should the original item be required for any reason. After 30 days, mark the check "VOID" and destroy it by cross-cut shredding or another commercially acceptable means of destruction.
What are the cut-off times for deposits made with Mobile Deposit?
You can deposit checks at any time. Funds from items deposited through Mobile Deposit will be available according to the Coatesville Savings Bank Funds Availability Policy, as amended from time to time. The funds availability policy is available at any community office of Coatesville Savings Bank for your review. Coatesville Savings Bank will require a deposit to be made by 4:00 p.m. EST via Mobile Deposit to post with an effective date of the day of deposit. This will only post same day if there are no discrepancies with the deposit that need to be addressed. If you deposit the check after 4:00 p.m. EST it will post on the following business day. Deposits made through Mobile Deposit DO NOT memo post to your account until End of Day Processing has run.
Which accounts can I use to make deposits?
Customers can deposit checks into their checking or savings account.
Are there any kinds of checks that I cannot deposit using Mobile Deposit?
- Any check or item payable to any person or entity other than you;
- Items that are drawn on your own account here at Coatesville Savings Bank (either personal or business affiliated account);
- Any check or item containing an alteration on the front of the check or item, or which you know or suspect, or should know or suspect is fraudulent or otherwise not authorized by the owner of the account on which the check or item is drawn;
- Any check or item payable jointly, unless deposited into an account in the name of all payees;
- Any check previously converted to a substitute check, as defined in Regulation CC;
- Any check drawn on a financial institution located outside the United States;
- Any check that is a remotely created check, as defined in Regulation CC;
- Any check not payable in United States currency;
- Any check dated more than 6 months prior to the date of deposit;
- Any check payable on sight or payable through draft, as defined in Regulation CC;
- Any check not properly endorsed as specified in the Mobile Deposit Services Agreement;
- Any check that has previously been submitted through the Service or through a remote deposit capture service offered at any other financial institution;
- Any check or item drawn or otherwise issued by the U.S. Treasury Department.