Mobile deposit has been around for a few years now, and it’s brought a whole new meaning to the word ‘convenient.’ Previously, you had to find time in your day to make it to the branch before they closed, wait in line (perhaps with your kids in tow), and fill out all of your information just to deposit a check.
Nowadays? Well, now we simply pull out our phones, log in to the mobile app with our fingerprint (we don’t even have to remember passwords!), and take a photo of the front and back of the check; that’s without ever leaving our seat.
While mobile deposit itself is simple to use and secure, there are a few more things you should be doing after clicking ‘Accept Deposit’ to protect yourself and the person who gave you the check.
- Write the date you made the mobile deposit on the check to keep you from thinking you still have a check deposit when, well, you already did through the mobile app.
- Store the check in a safe location for 60 to 120 days after you deposit it. Preferably, you would use a locked box or filing cabinet. If you don’t have one, put it somewhere where it’s not easily accessible for other people within your home.
- SHRED the check after the 60-120 days is up. Don’t just recycle this – it’s not an arbitrary piece of paper. First, it has someone’s account number on it. Second, it’s possible for someone to try to deposit the check themselves (through mobile deposit, an ATM, etc), which could cause you a huge headache down the road. So, make sure you destroy the check when you’re ready to dispose of it.
Following these simple steps can help save you, and the person who gave you the check, from trouble down the road.
