For Electronic Deposit Only At Chase

  1. Chase Bank Electronic Deposit
  2. For Electronic Deposit Only At Chase Online

An electronic check deposit (ECD) is a type of financial transaction that makes it possible to streamline the process of depositing funds into a bank account. Rather than utilizing the steps involved in processing paper checks, the electronic approach relies on the transmission of data from the issuing institution to the receiving institution. While the processes may vary slightly, electronic check processing often makes use of images of the paper checks that can be processed with greater speed, making it possible to deduct the amount from the issuing account and credit it to the receiving account in less time.

Set up direct deposit. Have your direct deposit made to this account within 90 days of account opening. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Chase will deposit the bonus in your new account within 10 business days. The description only says this is a customizable stamp so though most intend for it to be used as a deposit stamp for us it was a different use. I customized the stamp to say the name of our business, the word to and the word from. Instead I received a stamp that says 'pay buisness name then for deposit only and to & from. Chase Merchant Services allows you to accept MasterCard, Visa, American Express®, Discover®, Diners Club®/Carte Blanche® and JCB cards. Although we can support all credit card types, we only have the ability to directly fund merchants for MasterCard, Visa, Diners Club/Carte Blanche and JCB. With other deposits, funds are available on the first business day after receipt of the deposit. If you make a deposit with a Chase branch teller, it will be considered a same-day deposit as long.

One of the more common approaches to the electronic check deposit involves the creation of images of paper checks that can be transferred without the need to actually transport the paper checks from one location to another. Using a secure network transfer protocol, the scanned images can easily be processed by the receiving bank and credited to the proper account. At the same time, the transfer of the images to the issuing bank streamlines the process of verifying that the funds are on hand to cover the check amount, as well as allowing the issuing bank to debit the issuing account properly. As a result, recipients have access to their money sooner, and originators have updated account information in less time.

The use of an electronic check deposit approach is particularly effective for high volume clients who receive a large number of payments by check each day. Once deposited at the bank, the electronic processing makes it possible to release those funds for use in much less time, something that may be especially important if those funds are needed to settle any of the recipient’s debts that are pending. For example, a company that is depending on the received checks clearing in time to use the funds to manage an employee payroll will appreciate the speed that the electronic check deposit method provides in comparison to waiting several days for paper checks to clear.

Some financial institutions provide strategies that allow their customers to actively participate in the initiation of the electronic check deposit process. Using special equipment, clients are able to scan the checks and forward the images to the bank via a secure connection. The bank in turn begins the process of crediting customer accounts and clearing the checks with the use of the images. This means that a company may scan and send check images to the bank in the morning rather than having to make a trip to the bank to physically deposit the hard copy checks in the afternoon, a time saver that expedites the clearing process.

Just about every bank and similar financial institution has some type of electronic check deposit offering that qualified customers can utilize. In some cases, the service is offered only to commercial customers, while others will allow any bank customer to make use of this approach. Since qualifications and procedures, as well as charges for the service will vary from one provider to another, consulting with bank personnel on the process and the fees involved before actually beginning to use this solution is recommended.

Chase QuickDeposit allows you to deposit checks from anywhere using their mobile check deposit service via the Chase Bank app.

If you signed up for a Chase Banking Bonus recently, then you may wish to use Chase QuickDeposit to conveniently cash your checks without having to visit a branch.

You simply snap a picture of your check and deposit it to your Chase Bank account from your mobile phone or tablet.

  • Snap a picture of your check and follow the on-screen instructions.
  • Deposit checks on your schedule, virtually anytime and anywhere.
  • Deposit checks securely from your mobile phone or tablet.
  • Deposit personal checks, business checks, and U.S. Treasury checks.

How To Use Chase QuickDeposit

1. Download the Chase Mobile App for Android or iOS.

2. Log on with your Chase Online Banking username and password.

3. Navigate to Chase QuickDeposit (Tap the Navigation Menu at top left on main screen and then tap “Deposit Checks“).

4. Sign up and activate service.

5. Select an account to receive your check deposit.

6. Enter the value of the check.

7. Take a photograph of the front of the check.

8. Take a photograph of the back of the check (with endorsement signature included).

9. Verify all information.

10. Submit your check and confirm.

Where Can You Deposit Checks with Chase QuickDeposit?

You can deposit your check into your Chase Bank checking or savings account.

You can also deposit your check onto your Chase Liquid Card.

For Electronic Deposit Only At Chase

Chase Bank Electronic Deposit

When Will Your Funds Be Available via Chase QuickDeposit?

Deposits that are submitted before 11:00 PM ET on a business day generally will be available by the next business day.

Deposits submitted after 11:00 PM ET or on a non-business day will be processed the next business day.

Chase Bank may delay availability if they require further review of the deposit.

What Should You Do with Your Check after Using Chase QuickDeposit?

After you complete your transaction, you should write “deposited” and the date of deposit on the face of the check.

You should retain the marked check for 1 week after your deposit, in case Chase needs to review it for any reason.

After 1 week, you may then destroy your check.

You can review Chase QuickDeposit for more details about this service.

For Electronic Deposit Only At Chase Online

If you want access to Chase QuickDeposit and other Chase banking services, you may want to consider opening a new account.