What Do You Need to Deposit a Check?
Navigate the complete process of depositing a check, from preparing your endorsement to understanding when your funds become available.
Depositing a check is a common way to add funds to a bank account. Understanding the process helps ensure that funds can be accessed efficiently. This involves several steps, from preparing the check to selecting a deposit method and knowing when the funds will become available.
Ensuring Your Check is Ready
Before depositing a check, verify its validity and prepare it. A valid check includes a current date, the correct payee name, and matching written and numerical amounts. Missing a signature or discrepancies in amounts can make the check invalid and prevent successful processing.
Endorsing the check is a mandatory step that authorizes the bank to process the payment. The endorsement involves signing your name on the back of the check within the designated endorsement area. For security, sign the check just before depositing it.
Different types of endorsements offer varying levels of security. A blank endorsement is simply your signature, which makes the check payable to anyone holding it, carrying the highest risk if lost or stolen. A more secure option is a restrictive endorsement, such as writing “For Deposit Only” followed by your signature and, sometimes, your account number. This ensures the check can only be deposited into your specified account. For mobile deposits, some banks require “For Mobile Deposit Only” written below your signature. A special endorsement, “Pay to the order of [New Payee]” followed by your signature, transfers the check’s ownership to another person.
Personal and Account Information Needed
Beyond the check, personal identification and bank account details streamline the deposit process. For in-person transactions at a bank branch, a valid government-issued photo identification is required to verify your identity. Common forms include a driver’s license, state-issued ID, or a passport.
When depositing a check through digital channels like mobile banking apps or online portals, you need your bank account number and the bank’s routing number. This information ensures the funds are correctly linked to your account. For deposits made at an ATM or with a physical deposit slip, your debit card or the pre-printed slip usually provides this account information.
Choosing Your Deposit Method
Modern banking offers several ways to deposit a check. One method is visiting a bank branch and depositing the check with a teller. This involves presenting the endorsed check, your identification, and a deposit slip. The teller can assist and provide a receipt.
Another option is using an Automated Teller Machine (ATM). To deposit a check at an ATM, insert your debit card and enter your Personal Identification Number (PIN). Then select the “deposit” option and choose the account. The ATM prompts you to insert the endorsed check into a designated slot, and some modern machines can read the check amount automatically, while others may require manual entry. Retain the ATM receipt as confirmation of your deposit.
Mobile check deposit, available through most bank apps, allows deposits without visiting a physical location. This process involves opening your bank’s app, selecting the deposit feature, and taking clear photos of the front and back of the endorsed check. After capturing, input the check amount and confirm. Proper lighting and focus help with image capture.
Depositing a check by mail is an option, though it involves longer processing times. This method requires endorsing the check and enclosing it with a deposit slip, or writing your account number on the check, before mailing it to your bank’s processing center. Some financial institutions recommend certified mail for security and tracking.
Accessing Your Deposited Funds
After depositing a check, funds may not be immediately available, a concept known as “funds availability.” Banks typically place a temporary hold on deposited checks to ensure funds clear from the payer’s bank. Some banks may make a portion of funds, such as the first $225, available the next business day, but the full amount often has a hold period.
Typical hold periods range from one to two business days for most checks deposited on a business day. Longer holds, up to seven business days, can occur for various reasons. These include large deposit amounts, checks deposited into newly opened accounts, or if the bank suspects the check’s collectability. The specific policies regarding funds availability vary between financial institutions, so consult your bank’s detailed policy for precise information.