What is Mobile Deposit & Is It Safe?

by Spero Financial

Mobile deposit is a feature that many banks and credit unions (including Spero Financial) offer that allows you to remotely deposit a paper check without making a trip to deposit checks in person. It is a convenient way to get money into your account while also saving time.

But, is it safe? In this article, we will dig into what mobile deposit is, how secure it is, how it works, and what you should know before using mobile deposit.


What is Mobile Deposit?

Mobile deposit is exactly what it sounds like - it is a way to deposit a paper check from the comfort of wherever you are using your banking app on your smartphone. It’s just like depositing a check in person, however, you do not have to physically visit your brick-and-mortar bank or credit union to accomplish the deposit.

But, you may be asking, how exactly does it work? Let’s take a look at that now.

How Does Mobile Deposit Work?

Mobile deposits work by uploading an encrypted image of your paper check to your financial institution’s (FI) mobile app. In concept, it’s similar to scanning a document onto your computer. This process is made possible by the Check Clearing for the 21st Century Act, which is a federal law that took effect in 2004. It allows FIs to create electronic images of consumer’s checks through a process called check truncation. The electronic images, known as a substitute check, are then processed, and are treated as a physical check, so the correct amount of money is transferred to the consumer’s account.

Is Mobile Deposit Safe?

In short, yes. Mobile deposit is a safe and secure process, as long as you are using an app from a reputable FI. Mobile banking security typically takes steps to encrypt your information and ensure that it is not shared. (Rest assured, at Spero Financial, we take thorough steps to ensure your information is secured.)

If you want to take extra steps to secure your information, there are a few steps you can take, such as using a VPN, enabling two-factor authentication for your banking app, and using a unique password for your banking app.

How to Use Mobile Deposit

Using mobile deposit is an easy process. For most banking apps, you simply need to endorse the back of the check, confirm the amount that is written on the check inside the app, and upload a clear image of the front and back of the check. Some FIs may require additional steps, but generally, this is the process that you will follow to complete a mobile deposit for most apps. Click here for step-by-step instructions on making a deposit through your Spero mobile app.

Are There Limits on Mobile Deposits?

Using mobile deposit is an easy process. For most banking apps, you simply need to endorse the back of the check, confirm the amount that is written on the check inside the app, and upload a clear image of the front and back of the check. Some FIs may require additional steps, but generally, this is the process that you will follow to complete a Some Fis have caps on the amount that you can deposit at one time, and others only allow mobile deposits every so often. Others may only allow a certain number of deposits every day, week, or month. It’s important to contact your FI for specifics on what they allow.

5 Things You Should Know When Using Mobile Deposit

Before you take the plunge into mobile deposits, here are 5 things to keep in mind:

  1. Endorse Your Checks Legibly: This is very important. Make sure that you endorse your checks legibly, otherwise, you risk elongating the process of getting the money in your account.
  2. There May Have a Deposit Cap: Like we’ve discussed, it’s important to contact your FI to see if there are limits on the amount of money you can deposit at once or on the frequency that you can do mobile deposits.
  3. Checks Can Still Bounce: If the account connected to the check does not have enough funds to cover the amount on the check, then the check can bounce.
  4. There May Be a Waiting Period: Although depositing a check through an app feels “instant”, it is worth noting that the amount of money will not necessarily show up in your account instantly. You may need to wait a day or two to see the funds in your account.
  5. Hold On to Your Check: To ensure that the funds are properly deposited into your account, it’s a good idea to keep your paper check for about a week. This way, you still have the check if you need to deposit it in person.

If you’re interested in the benefits of mobile deposits, Spero Financial can be of service! The Spero Financial app offers the convenience of mobile deposits, along with several other features.


This material is for educational purposes only and is not intended to provide specific advice or recommendations for any individual.

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