What is Mobile Deposit?
Mobile Deposit is a service offered through First Exchange Bank’s Mobile Banking App allowing customers to remotely deposit checks by taking pictures of the front and back of the check. The check is then uploaded for deposit to the customer’s designated deposit account.
What mobile devices will I need to use this feature?
Mobile Deposit is currently supported by both iPhone and Android smart phones, as well as iPad, Android, and Kindle tablets.
How much can I deposit with Mobile Deposit?
Mobile Deposits are limited in amount to $2,000 per day, up to $5,000 for a thirty day period.
Is there a fee for using Mobile Deposit?
No, Mobile Deposit is provided at no charge to you. Notice will be given to you at least 30 days in advance if this policy changes.
Who is eligible for Mobile Deposit?
To use First Exchange Bank’s Mobile Deposit, you must be a customer of First Exchange Bank, utilize First Exchange Bank’s Online Banking system in connection with a checking or savings account and your account(s) must be in good standing.
What items are eligible for Mobile Deposit?
Only checks (drafts payable on demand and drawn on a credit union, savings and loan, or bank) endorsed by the depositor are allowed to be deposited using Mobile Deposit. The following checks are not to be used for Mobile Deposit:
- Checks payable to any person or entity other than you (i.e., payable to another party and then endorsed to you).
- Checks payable to you and another party who is not a joint owner on the account.
- Checks that contain evidence of alteration, or that you know or suspect, or should know or suspect, are fraudulent or otherwise not authorized by the owner of the account on which the check is drawn.
How will I know if my Mobile Deposit check was received by First Exchange Bank?
Once we have received your uploaded image, you will receive a confirmation of receipt via an email from First Exchange Bank. This confirmation does not mean that the image contains no errors. We reserve the right to reject any image for remote deposit into your account. If an image is rejected, then notification of the rejected image will promptly be given to you.
How long should I keep my original check after uploading it using Mobile Deposit?
Original checks must be securely stored for 45 business days after transmission. We may request you to deliver the original check to us during this time period. If requested, the check is to be delivered to the Bank within 5 business days at your expense. If not received within 5 business days, the amount of the check will be deducted from your account.
When will my deposited funds become available?
Mobile Deposits confirmed as received before 4 PM on a business day will be credited to your account on the same day. Deposits confirmed received after 4 PM and deposits confirmed received on holidays and days that are not business days will be credited to your account on the following business day. Funds deposited using Mobile Deposit will generally become available for withdrawal on the following business day after being successfully credited to your account.
We reserve the right, at our sole and absolute discretion, to reject any image for mobile deposit into your account. We will notify you of rejected images or items which you do not receive immediate credit. Full details can be found in our Funds Availability Policy (Regulation CC Disclosure). To request the most recent copy of this disclosure, please email DepositServices@FirstExchangeBank.com or call 304.986.1700.
What can I do to ensure that my check images are accepted by Mobile Deposit?
Make sure that all four corners of the check are contained in the check image. Proper lighting and placing the check on a dark or contrasting background will help ensure that the check will stand out in the image. Finally, taking a crisp picture without blurriness will help ensure that your Mobile Deposit will be accepted.
For more information, please contact our Deposit Services Department at DepositServices@FirstExchangeBank.com or 304.986.1700.