Eastern Bank Mobile Deposit Limit


Eastern Bank Mobile Deposit Limit: Everything You Need to Know

Mobile banking has made it easier than ever for customers to manage their finances on the go. With features like mobile deposit, you can now deposit checks from the comfort of your own home. However, each bank sets its own limits on how much you can deposit using this service. In this article, we will explore the Eastern Bank mobile deposit limit, along with some interesting facts about this feature.

1. What is the Eastern Bank mobile deposit limit?

The Eastern Bank mobile deposit limit is $3,000 per day and $5,000 per rolling 30-day period for consumer accounts. For business accounts, the daily limit is $10,000 and the rolling 30-day limit is $20,000. It’s important to note that these limits are subject to change at the discretion of the bank.

2. How does mobile deposit work?

Mobile deposit allows you to deposit a check into your account by taking a picture of the front and back of the check with your mobile device. The check is then processed electronically, and the funds are deposited into your account. This convenient feature eliminates the need to visit a branch or ATM to deposit a check.

3. Is there a fee for using mobile deposit?

Eastern Bank does not charge a fee for using mobile deposit. However, it’s always a good idea to check with your individual bank to see if there are any fees associated with this service.

4. Are there any restrictions on the types of checks that can be deposited using mobile deposit?

While most checks can be deposited using mobile deposit, there are some restrictions. For example, you cannot deposit foreign checks, savings bonds, or third-party checks using this service. Additionally, the check must be made payable to the account holder and endorsed on the back.

5. How long does it take for a mobile deposit to be processed?

In most cases, a mobile deposit will be processed within one business day. However, the exact timing may vary depending on the bank’s policies and the time of day the deposit is made. It’s always a good idea to check with your bank for specific processing times.

6. Can I deposit multiple checks using mobile deposit?

Yes, you can deposit multiple checks using mobile deposit. However, the total amount of all checks deposited cannot exceed the daily and rolling 30-day limits set by the bank. If you need to deposit more than the limit allows, you may need to visit a branch or ATM.

7. What should I do with the physical check after making a mobile deposit?

After making a mobile deposit, it’s important to securely store the physical check for a certain period of time. Many banks recommend keeping the check for at least 30 days in case there are any issues with the deposit. Once you have confirmed that the deposit has been processed successfully, you can then safely destroy the check.

8. How can I calculate my mobile deposit limit?

To calculate your mobile deposit limit, simply add up the total amount of all checks you plan to deposit within a given period (either daily or rolling 30-day). If the total amount exceeds the limit set by the bank, you will need to adjust your deposit amount accordingly.

Example: If you have three checks to deposit, each for $1,000, your total deposit amount would be $3,000. Since this amount falls within the $3,000 daily limit for consumer accounts, you would be able to deposit all three checks using mobile deposit.

Common Questions About Eastern Bank Mobile Deposit

1. Can I deposit a check that is not in my name?

No, you can only deposit checks that are made payable to you. Third-party checks are not allowed to be deposited using mobile deposit.

2. Is there a limit on the number of checks I can deposit in a single day?

There is no limit on the number of checks you can deposit in a single day, as long as the total amount does not exceed the daily limit set by the bank.

3. Can I deposit checks in foreign currency using mobile deposit?

No, only checks in U.S. dollars can be deposited using mobile deposit. Foreign currency checks are not accepted.

4. What should I do if my mobile deposit is rejected?

If your mobile deposit is rejected, you will receive a notification from the bank explaining the reason for the rejection. You may need to visit a branch or ATM to deposit the check in person.

5. Can I deposit a post-dated check using mobile deposit?

Yes, you can deposit a post-dated check using mobile deposit. The bank will process the deposit on the date written on the check.

6. Is there a limit on the amount of each individual check that can be deposited using mobile deposit?

There is no limit on the amount of each individual check that can be deposited using mobile deposit. However, the total amount of all checks deposited must not exceed the daily and rolling 30-day limits set by the bank.

7. Can I deposit a money order using mobile deposit?

No, money orders cannot be deposited using mobile deposit. Only checks can be deposited using this service.

8. How can I access my mobile deposit history?

You can access your mobile deposit history through your online banking account. Simply log in and navigate to the mobile deposit section to view a history of all deposits made using this service.

9. Can I deposit a check that is more than six months old using mobile deposit?

Yes, you can deposit a check that is more than six months old using mobile deposit. However, it’s always a good idea to check with your individual bank for their specific policies on stale-dated checks.

10. How can I ensure that my mobile deposit is processed successfully?

To ensure that your mobile deposit is processed successfully, make sure to follow all instructions carefully when taking pictures of the check. Ensure that the check is endorsed properly and that all necessary information is included.

11. Can I deposit a check that has been damaged or torn using mobile deposit?

If a check is damaged or torn, it may not be accepted for mobile deposit. In such cases, you may need to visit a branch or ATM to deposit the check in person.

12. Is there a limit on the total amount of mobile deposits I can make in a month?

There is no limit on the total number of mobile deposits you can make in a month, as long as the total amount does not exceed the rolling 30-day limit set by the bank.

13. Can I deposit a check that is written in pencil using mobile deposit?

No, checks written in pencil are not accepted for mobile deposit. The check must be written in ink to be processed successfully.

14. Can I deposit a check that is dated for the future using mobile deposit?

Yes, you can deposit a check that is dated for the future using mobile deposit. The bank will process the deposit on the date written on the check.

15. Can I deposit a check that is payable to a business using mobile deposit?

No, checks that are payable to a business cannot be deposited using mobile deposit. Only checks made payable to an individual can be deposited using this service.

16. Can I deposit a check using mobile deposit if I am outside of the United States?

No, mobile deposit can only be used within the United States. If you are outside of the country, you will need to visit a branch or ATM to deposit the check in person.

Final Thoughts

Mobile deposit is a convenient feature that allows you to deposit checks quickly and easily from anywhere. The Eastern Bank mobile deposit limits ensure that you can safely deposit checks while also protecting against potential fraud. By understanding these limits and following the bank’s guidelines, you can make the most of this convenient banking feature. If you have any further questions about mobile deposit, be sure to reach out to your bank for more information.

Author

  • Susan Strans

    Susan Strans is a seasoned financial expert with a keen eye for the world of celebrity happenings. With years of experience in the finance industry, she combines her financial acumen with a deep passion for keeping up with the latest trends in the world of entertainment, ensuring that she provides unique insights into the financial aspects of celebrity life. Susan's expertise is a valuable resource for understanding the financial side of the glitzy and glamorous world of celebrities.

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