When you need to deposit paper check to checking account you may find that there are limits on amounts of deposit per month. While there are many ways to deposit paper check to bank account the most convenient is using your mobile phone. But before you deposit a check make sure you know how much time it is going to take.
Here are the remote deposit limits of popular banks. Some banks change limits based on customer’s trust worthiness and how much money you receive as a direct deposit, you average balance etc.
| Bank | Monthly Limit | When Money Available | Eligibility |
|---|---|---|---|
| Chase | $7,500 | ||
| Bank Of America | $15,000 | ||
| Wells Fargo | $11,980 | ||
| Capital One | $10,000 | ||
| Ally Bank | $50,000 | ||
| PNC Bank | $50,000 | ||
| Chime | $2,000 | Direct Deposit | |
| Discover Bank | $25,000 | ||
| Varo Money | $500 | 7 days | |
| Cash App | – | – | Available to few users |
| GO2Bank | $15,000 | ||
| Netspend Debit Card | $10,000 | ||
| Spruce Bank | – | – | Unavailable |
| PayPal | $9,999 | 10 days | |
| Current Bank | $2,000 | 3-5 days | |
| Amex Checking | $5,000 | 2 business days | |
| US Bank | $50+ | 10 days | It is specific for every user |
| Bank Of The West | $25,000 | $10,000 per day | |
| Charles Schwab | $100,000 | 7 days |
Mobile check capture is a “must have” feature for modern banks. In 2013 only 10% of US banks adopted the remote deposit using mobile phone, but now it is more widespread. Still there are banks that don’t support it.
Mobile deposits with Ingo Money
Some banks and debit cards decided to outsource mobile check deposit to “Ingo Money”. It is a service, that handles check deposits. It takes 10 days for “Ingo Money” to process and clear the check. I don’t understand why it takes so much time, while other banks are able to finish deposit transaction in 1 or 2 business days. For example, PayPal cash account uses the service.
Make sure to read how long does mobile deposit takes at Wells Fargo.
For some people who rarely receive paper checks, the limit may be not that important. At the same time other people who receive checks often may find mobile deposits very valuable.