Some mobile check deposit drawbacks you should know

Friday, December 12th, 2014

The mobile check deposit has been available for five years already. It became one of the popular features of mobile banking. While it is fast and easy, some possible drawbacks are coming to the surface as use of the service grows.

The mobile check deposit or remote deposit capture is offered by the majority of largest banks. It allows customers use a mobile app to snap a photo of checks with their phones and deposit the money in their bank accounts.

As the service becomes more and more popular, the importance for customers to compare the terms of mobile deposit services offered by different banks grows. But it is not easy to compare the terms and disclosures because they vary, they are vague and sometimes incomplete.

For example, some banks do not offer immediate availability of funds deposited by mobile device. The banks try this way to control fraud. Another protection against fraud used by banks when consumers use mobile check deposit is the limitation of the amounts you can deposit. It can be difficult to find such information because it is usually given online and not within the app the consumers use to deposit the checks.

However, fraud can still occur with mobile check deposit. One of the reasons is the consumer retains the original paper check and it can be redeposited either by accident or intentionally. Small banks have computer programs running to detect such activity. And so far banks generally consider such activities and losses manageable.

Latest Other Card News

Monday, June 6th, 2016
If your wallet is bulging with store loyalty cards, there’s good news for you from Samsung Pay. The most widely accepted mobile digital wallet system in the United States is now ...
Tuesday, April 12th, 2016
Springtime is the season for house hunting, but many people planning to move this year say they’ll rent, not buy, their new digs.
Tuesday, January 5th, 2016
Online banking has revolutionized the way people do business with their banks, and one result is that fewer and fewer folks are actually stopping in to branches to do things like ...
Tuesday, December 8th, 2015
A new credit card from Barclaycard offers cash back rewards, as well as a redemption bonus when cardmembers redeem their rewards.
Monday, June 29th, 2015
Nordstrom agreed to sell its existing U.S. Visa and private label consumer credit card portfolio to TD Bank Group.
Pacific Credit Group Emporium Black Card
Copyright © 2001-2016 All Rights Reserved.

* The webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the website are property of their respective owners. makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that may be compensated by the credit card issuers when the readers apply for a credit card through this site. is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. does not review or list all available financial or credit offers.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.