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For example, if you deposit a check on your mobile device worth $1,000, you would be able to access $200 of it the next business day, and the remaining $800 would be available to you within two ...
Remote deposits became legal in the United States in 2004 when the Check Clearing for the 21st Century Act (or Check 21 Act) went into effect.The Act is intended in part to keep the country's financial services operational in the event of a catastrophe that could make rapid long-distance transportation impossible, like the September 11, 2001, attacks.
Before you try to deposit anything other than a personal, business, cashier’s or government check drawn from a U.S. bank, check to make sure your bank’s mobile deposit feature allows it.
You also can deposit the check in your checking account through an ATM, mobile check deposit app or add the funds to a pre-paid debit card. As soon as the funds clear, you can use the money to ...
While your online-only bank might allow you to make cash deposits via its network of ATMs, if you’re talking about a lot of money, that, coupled with daily limits, could be a cumbersome process.
If you need to cash a check on the go, doing so from your mobile phone is a fast and easy option. See how the top check-cashing apps' fees and features compare. 6 Best Check-Cashing Apps
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