Welcome to 2020, where learning how to deposit a check online is as easy as snap, click, send. Today’s smartphones open up a new world for online banking, taking away the need to constantly visit the ATM. Now, most banks have a mobile app so you can deposit your checks in the comfort of your home or while on the go.
The bankers at Cornerstone Bank have to admit—mobile banking has truly changed the way we bank online. It allows us to serve our customers in a way that is convenient to them. Believe us when we say that it makes all the difference.
Want to learn more? Keep reading our in-depth guide on how to deposit a check online, and you’ll be right on your way toward mobile banking like a pro.
Mobile Check Deposit Not Working? Here Are 5 Reasons Why. →
The history of mobile banking
Before we go into how to deposit a check online via mobile banking, let’s first talk about how mobile banking got its start.
For decades, banks strived to find a way to give customers the one thing they all wanted: convenience.
Think about this. Most banks have business hours while most customers are working, which can make getting to the office a hassle.
P.S. Cornerstone Bank is open from 8 a.m. to 5 p.m. Monday through Friday.
You may think that driving to an ATM takes unnecessary time out of your day, but there was once a time when even ATMs were innovative. They were the first step toward easier ways to deposit a check. The first ATM came out in 1969 to dispense cash, but with new technology, ATMs transformed into the mean, lean, banking machines we use today.
Then just like everything else, banking moved online in the mid 90s, giving banks even more opportunity to serve their customers. But even though online banking was a lot more convenient, the internet back then was still a gray area, and it took awhile for customers to jump on the bandwagon.
Still, the question was always: “How can we make banking even more convenient?”
The answer was in the palm of their hands—literally. Cell phones were quickly becoming a staple of daily life to the point where people rarely left the house without one. Mobile banking started off with automated voice responses, then turned to SMS capabilities for text alerts.
Soon, the rise of smartphones gave bankers an idea. If other industries could use apps to reach people, couldn’t banks do the same thing?
Now, this didn’t happen right when the first smartphone came out in 1992 (yep, you read that correctly!). Smartphones had to evolve before a banking app could actually be effective. Plus, wireless Wi-Fi definitely helped. Now about 57 million people use mobile banking in the U.S. Pretty crazy, huh?
How does mobile banking work?
Well, mobile banking works very similar to online banking. The idea is the same: you can check your balances, transfer funds, and even open an account. The main difference between the two is that a mobile bank app also allows you to deposit a check online.
In general, mobile banking consists of two types of transactions: push and pull. The main difference between these transactions is the way information flows between the user and the bank.
Push transactions: Push transactions push information to the user. For example, a bank may alert you via text message that your account is overdrawn or that there’s strange activity. Oftentimes, the user sets up these alerts based on information they want to know. Some people may only want to receive alerts if their balance falls below $200. Others may want an alert after they’ve figured out how to deposit a check online for the first time.
Pull transactions: Pull transactions are when users pull information from the bank. In this sense, they are actively needing a service or help. Examples include checking a balance or transaction history. Pull transactions also encompass transferring funds or making deposits.
The capabilities of a bank’s mobile app does vary, so always talk with your bank to understand what your app can do for you.
How to deposit a check online using a mobile app
With a mobile app, learning how to deposit a check online is easier than ever. Most banks make the process very simple, allowing you to finish the process in just a couple of minutes!
Step One: Endorse the check
Before you do anything, you’ll want to sign the back of the check. Even though you aren’t physically depositing the check to the bank, you still have to endorse it. For security reasons, make sure the signature matches the signature you always use. At Cornerstone Bank, we require our customers to send over the signature they’ll use on their mobile deposits so we can have it on file.
Step Two: Open the app
With your check in hand, it’s time to open your app. A secure bank will require you to log in every time you need to use the app. However, with new technology such as facial recognition, there are faster ways to safely access your account without the hassle of typing in your password.
Step Three: Deposit the check
It should be easy to spot the option to deposit the check. You’ll want to lay your check on a clean surface that has enough contrast. Using the app, you’ll want to take a picture of the front of the check then the back of the check.
Step Four: Dispose the check
Don’t leave the check lying around. First, void it out, then after a few days, shred it. Note: You may want to wait a couple of business days for the money to hit your account before destroying your mobile-deposited check. Keep in mind that with mobile deposits, the money doesn’t usually appear right away.
How to stay secure while using a mobile banking app
As with anything that involves the internet or smartphone, you’ll want to make sure you’re keeping yourself as secure as possible. Here are a few ways to stay secure when using your bank’s mobile app.
Use your mobile data or a VPN when away
At home your personal Wi-Fi is fine to connect to, but public Wi-Fi isn’t always the safest bet (even if they do have a password). So when you’re accessing your bank app on the go, try to use your data or a virtual private network to avoid cyberthreats or potential security breaches.
Stay away from sketchy apps
If a mobile app requires you to download it from a store that’s not your phone’s app store, steer clear. This especially happens when people are posing as your bank and send you a link for a false app. Only download apps from the Apple Store or Android Store.
Don’t use your banking app on a jailbroken phone
Some people “jailbreak” their device to have access to non-approved apps and sites. In doing this, it breaks down your phone’s security wall. If you open your mobile app to check your account or deposit a check online, someone could easily gain access to your information.
Benefits of learning how to deposit a check online
It goes without saying that learning how to deposit a check online offers convenience that an ATM or the office doesn’t always have.
Banking on the go
As Kansas City continues to grow, it seems our lives become busier and busier. Some days we simply don’t have the time to visit our local bank; therefore, it’s beneficial to have banking options wherever we go. Depositing a check online allows you to get through your financial errands without having the constraints of driving to yet another place.
Fast, simple, and easy
Mobile banking has made your banking needs less complex and more efficient. You no longer have to maneuver through confusing paperwork and long processes to deposit a check or to transfer funds from one account to another. Everything can be done by the tap of a finger! Plus, it saves you a lot of time while still being a secure deposit option.
Banking customized to you
When you deposit a check online, you get to bank on your own time. That means banking is 100% customized to your schedule and your needs. Plus, if you bank with Cornerstone Bank, we pride ourselves on a customized experience; we even greet all of our customers by name.
Deposit a check the moment you receive it
We’ve all had that scary moment when we thought we lost a check. Now you don’t have to wait until you can make it to the ATM or the bank opens. The moment you get a new check, you can open your app, take a picture, and not have to worry about keeping track of it for long periods of time.
Let Cornerstone help you learn how to deposit a check online.
Since 2001, Cornerstone Bank has put our customers first, and that means giving them the best mobile banking has to offer. Our app includes up-to-date banking, touch ID, facial recognition for quick login, an “instant balance” feature, and the ability to customize your card’s security settings. We also make depositing checks online quick and easy.
For more information on our mobile banking features or about how to open a bank account online, visit our Overland Park bank or give us a call at 913-239-8100 to let us know how we can help.