What Do I Do With My Check After Mobile Deposit?

Mobile check deposit offers a convenient way to manage your finances, allowing you to deposit checks using a smartphone’s camera without visiting a physical bank branch or ATM. Many individuals wonder about the appropriate handling of the physical check after the digital transaction is complete. Properly managing the physical check is important for maintaining financial security and peace of mind.

Why Hold Onto the Physical Check?

Retaining the physical check after a mobile deposit is a necessary safeguard. Even if funds appear quickly in your account, the deposit typically undergoes a processing period. During this time, the bank may need to verify the original paper check. Issues such as unclear digital images, discrepancies in the amount entered, or potential fraud can necessitate a review of the physical document. Holding onto the check provides proof of deposit if a transaction dispute arises or if the deposit does not fully clear as expected.

How Long to Retain the Check?

The recommended retention period for a physical check after a mobile deposit varies. Many financial institutions advise holding onto the check for 5 to 7 business days, or until the funds have fully cleared and are no longer in a “pending” status. Some banks suggest a longer period, such as 14 to 30 days, to allow ample time for any potential issues to surface. It is advisable to check your specific bank’s terms of service or mobile deposit guidelines, as policies can differ. Once the transaction is fully posted and reconciled in your account, the check is generally safe to dispose of.

Safely Storing the Check

During the recommended retention period, store the physical check securely to prevent loss, damage, or unauthorized access. A secure drawer, a home safe, or a designated folder can serve as appropriate temporary storage locations. The check should be kept flat and protected from moisture or tears to ensure its integrity if it needs to be re-examined. Avoiding leaving the check in plain sight or in an unsecured area helps protect your personal and financial information.

When and How to Destroy the Check

Once you have confirmed that the deposited funds are fully available in your account and the retention period recommended by your bank has passed, the physical check can be destroyed. You can verify the deposit’s status by checking your online banking transaction history or account statements. Securely destroying the check is important to protect your personal and financial information, preventing potential identity theft or fraud. Cross-cut shredding is a highly recommended method, as it renders the information unreadable. Alternatively, you can tear the check into very small, multiple pieces or obliterate sensitive details like account and routing numbers and your signature with a permanent marker before discarding.