How to Deposit a Check on Current?
Deposit checks to your Current account with ease. Navigate the simple process for adding funds via your mobile device.
Current, a financial technology company, offers convenient solutions for managing finances, including the ability to deposit checks directly from a mobile device. This feature eliminates the need to visit a physical branch or ATM, providing a streamlined experience for users.
Preparing for Mobile Check Deposit
Before initiating a mobile check deposit with Current, proper preparation of the physical check is necessary to ensure a successful transaction. It is important to correctly endorse the check by signing the back and writing “Current/Mobile Check Deposit” to prevent rejection.
Additionally, the physical condition of the check plays a significant role in the success of the mobile deposit. The check should be flat, unfolded, and free from any tears or creases. Ensure all writing on the check, including the payee name, amount, and signature, is clear and legible. For optimal photo capture, place the check on a flat, dark, and unreflective surface in a well-lit area. Confirm the Current app is updated to its latest version and your device’s camera lens is clean.
Completing Your Mobile Deposit
Once the check is properly prepared, the next step involves navigating the Current app to complete the deposit. Begin by opening the Current app on your mobile device. Locate and tap the dollar sign ($) icon. From there, select the option for “Mobile Check Deposit.”
The app will then prompt you to capture images of both the front and back of your endorsed check. Position your device directly above the check, ensuring the entire document fits within the on-screen guidelines. Hold your device steady to allow the app to automatically capture an image. Make sure there are no shadows cast over the check, as this can obscure important details and lead to processing delays.
After capturing the images, you will be prompted to accurately enter the check’s monetary amount. Carefully review all the entered details and the captured images on the confirmation screen before finalizing the submission.
After Your Deposit: Limits and Availability
After successfully submitting your mobile check deposit, Current processes the transaction, which involves a review period. Deposits take between one to five business days to clear and become fully available in your account. Deposits made after 4 PM EST will begin processing on the next business day. For instance, a deposit submitted on a Friday afternoon may not start processing until the following Monday.
Current, like many financial institutions, may make a portion of the funds available sooner than the full amount. For example, some institutions make the first $200 of a check available by the next business day, with the remainder following later. Current imposes a maximum limit of $2,000 per check deposit.
It is advisable to retain the physical check in a secure location until the funds are fully confirmed and available in your Current account, typically for at least 60 days. After confirmation, the physical check should be safely shredded to prevent potential fraud. Users will generally receive notifications through the app or via email regarding the status of their deposit.