Deposit checks via cell phone

[SoCalDukeFan]

Is anyone doing it?

What are the best practices?

Just sign the back and shoot the pics and deposit?

Write For Deposit Only on the Back and account number and sign and shoot?

Or Sign, Shoot, then write For deposit only and account number.

My issue is hanging on to the checks for two weeks or whatever.

What is they are lost or stolen.

Love the convenience.

SoCal

[El_Diablo]

Yes, I have been using it for a couple years now. The second indorsement method you listed is what my bank prefers. It's also the best way to protect against fraud in any case, whereas the first one (a "blank indorsement") leaves you vulnerable in the event someone else gets control of the check and tries to cash it.

The online deposit is basically instantaneous. You only need to hold onto it to the extent that it might be challenged or bounces, but any check has to go through that process--you just don't see it firsthand. I just indorse it (with my bank name and account number) and deposit it online, and then destroy it after a few weeks (after it has cleared). Your bank should tell you how they want you to sign it, but the second option is most likely.

[A-Tex Devil]

I do it with USAA. Very easy. Sign with "For deposit only into account #12345678". Hold on to the check until I get a e-statement showing it, then destroy it. Never had a problem other than that fancy checks with graphics sometimes give the software problems.

[cf-62]

There should be no problems with depositing this way.

[SoCalDukeFan]

Just want to say its great for me.

I get two checks every month, this month got two others. Just sign, snap and deposit.

Very convenient.

SoCal