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Bank of America Mobile Deposit makes it easy to add money to your account using any device with a built-in camera. The mobile app notifies you when you have reached the monthly deposit limit. In most cases, funds are deposited by or 9:00 p.m. curfew is available the next business day.
Bank Of America Check Deposit
The time it takes for Bank of America mobile deposits to reach your account depends on the time zone your account was opened in, the type of deposit, and the date the deposit was made.
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Check deposits made before the business day cut-off time are usually available the next business day. Here are the cut-off times, based on time zones:
For example, if you opened your account in the Eastern time zone and you deposit a check before Thursday, your funds will be available on Friday.
If you make the deposit after 21.00. on Friday, your money will be available the following Tuesday. Deposits made on Saturday or Sunday will be available on Tuesday.
Deposits made on a federal holiday will be credited to your account the day after the next business day. If the holiday falls on a Monday, for example, your money will be available on Wednesday.
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In accordance with the Deposit Agreement and Bank of America Disclosure, there may be instances where the availability of funds is delayed. In such cases, you will be notified within the next business day. However, the first $225 of deposit funds will be available to you the next business day.
Special rules apply to new accounts. During the first 30 days of opening your account, funds from personal check deposits are generally available no later than the fifth business day following your deposit.
When depositing certified or cashier’s checks, or cashier’s checks, traveler’s checks or government checks, the first $5,525 of each day’s deposit is available on the second business day. Remaining funds are available on the fifth business day after deposit.
Wire transfers are treated differently than check deposits. You have immediate access to funds transferred to your account from another Bank of America deposit account.
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But when the transfer is after 11:59 p.m. AND on a business day, you won’t see it in your transfer history until the next day. Funds transferred on a Saturday, Sunday, or holiday will appear in the transfer log the next business day.
Bank of America, Member FDIC, imposes limits on total check deposits into your account through mobile deposit. Limits are based on account age and your Bank of America Preferred Rewards membership status.
Bank of America’s mobile check deposit limit is $10,000 per month for accounts that have been open for three months or longer. For accounts that have been open for less than three months, the deposit limit is $2,500 per month.
Bank of America Preferred Rewards members with less than three months’ membership are limited to $25,000 per month. For accounts with three or more months of membership, the limit is $50,000 per month.
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There is a fee waiver for Bank of America mobile deposits. However, your mobile carrier may charge message or data charges.
You make mobile deposits using the Bank of America mobile app, available on Google Play and the App Store.
On both platforms, the app is a powerful tool not only for managing your accounts, but also for organizing your finances. Here are some of the things you can do:
The app includes Erica, a virtual assistant, who can help you use the app and send notifications with financial information and tips. You can also use the app to contact customer service in case you need live support or need to schedule an appointment with an account specialist. Security features like Touch ID and Face ID protect your accounts from fraud.
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You like You can deposit most types of checks online with Bank of America when you use the mobile app. Eligible check types are personal and business checks, cashier’s checks, and state and treasury checks. How to deposit checks with Bank of America Mobile Deposit
Depositing checks only takes a few simple steps. Before you begin, detach the check from any other stub or paper. Then place the check flat on a dark, well-lit surface.
Bank of America Mobile Deposit Step-by-Step Guide Endorse the back of the check with your signature and write “only deposited to Bank of America” below your signature. Open the app and log in securely with your fingerprint. Select the “Cash checks” link. Take a photo of the front and back of the check with your smart device by selecting the “Check Front” and “Flip” buttons in the app. Select the account you are depositing the check into. Enter the deposit amount. Confirm deposit details. Press “Cash”.
In addition to depositing the check, you can use the app to save, print, or email a copy.
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Most users should find Bank of America Mobile Deposit a valuable tool. But there are some drawbacks.
Bank of America Mobile Deposit offers customers a quick and easy way to deposit money into their accounts. Although there are a few exceptions to the types of checks you can deposit this way, the most common ones (personal checks, cashier’s checks, and government-issued checks) are compatible.
That said, basic mobile buffering functionality is standard issue. What sets the Bank of America mobile app apart from other major banking apps is the virtual assistant and budgeting tool that can help you manage all aspects of your finances and even schedule a one-on-one meeting with a account specialist.
Daria Uhlig is a personal finance, real estate and travel writer and editor with 25 years of editorial experience. His work has appeared on The Motley Fool, MSN, AOL, Yahoo! Finance, CNBC and USA Today. Daria studied journalism at Morris County College and earned a degree in communications from Centennial University, both located in New Jersey. Bank of America, the giant American bank, has finally added mobile check deposit to its iPhone and iPad apps. Bank of America retail customers can remotely deposit up to $5,000 in checks per month ($1,000 per month for new accounts) by taking photos of the front and back of their checks in the BofA app . Business and Platinum account holders have slightly higher monthly limits.
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