Mobile deposit is here! You are now able to deposit your checks anywhere, anytime through the Vermillion FCU Mobile App. No longer do you have to worry about making it to the credit union by closing time or wasting a stamp just to make a deposit. To get started just install or update your existing Vermillion FCU App on your Apple or Android device, then login to your online banking.
Here's how it works
- All members must request access through online banking within the Vermillion FCU Mobile App, then be approved for access by our staff. This is done by logging into the app, tapping on 'Move Money', then 'Deposit Check'. We reserve the right to deny members for reasons such as a history of account abuse.
- Once approved, you will be prompted to accept the service agreement.
- Now within the Vermillion FCU Mobile App you will be able to take a picture of the front and back of your check and have it submitted for deposit.
- You must clearly write the following on the check:
• Front of check: "Deposited VFCU" and today's date
• Back of check: "VFCU Mobile Deposit" and your signature
- There are limits in place on mobile deposits:
• Maximum daily deposit is set at $5,000
• Maximum deposits per day is 5 checks
• Maximum deposit limit per 30 day cycle is $25,000
Once you submit a check you will be able to track its status within the app. Every mobile deposit will be reviewed by a member of our staff, with deposits being made Monday-Friday at approximately 10 AM and 4 PM. You must hold onto the check until it has been approved, and we encourage you to keep it in your personal records for six months (the same length of time that we keep all paper checks at the credit union) in case any issues arise. After this time you should destroy the check.
If the check is rejected for any reason you will be able to see this in your deposit history, and we will send you an email with an explanation. Any checks that can't be deposited remotely can be physically brought to Vermillion FCU (either by mail or in person).
A check may be rejected for various reasons including the following:
- Image is not clear
- Part of check is cut off or not readable
- Check is not properly endorsed on front or back
- Payee is not listed on the account
- Check amount exceeds stated limits
- Other issues that may arise on an individual basis
As with all checks, a hold for up to 7 days may be placed on any item that does not meet the guidelines for immediate use of funds, and any check that is returned to us is subject to a $10 charge.
Please let us know if you have any questions!