Depositing checks has never been easier!

Transcription

1 Remote Deposit Capture Depositing checks has never been easier! You can now deposit checks with our O1 MOBILE Banking app. What is Remote Deposit Capture? Remote Deposit Capture, also known as "RDC", is a service that allows Option 1 Credit Union members to scan or photograph checks and transmit the images to their Option 1 account for posting and clearing. This service eliminates a trip to the branch or ATM to make your deposit, saving you time. What are the advantages of using RDC? You can securely deposit checks from anywhere, anytime. This saves time and expense by reducing trips to the credit union to deposit checks. Is RDC right for me? Eligible account holders who receive checks can benefit from remote deposit capture. With the ability to make deposits from anywhere at any time, it's faster, safer, and more convenient than making a trip to a branch or ATM. Is RDC safe/secure? RDC uses the same level of security and encryption standards as online banking, ensuring that member deposits and personal information are completely safe. The Remote Deposit Capture service is offered through our mobile banking app which requires you to provide a username and password each time you log in. Is there a cost to use RDC? No, Remote Deposit Capture is a free service offered to you through the Option 1 Credit Union mobile banking app. Charges for returned deposit items and other transactions are outlined in Option 1 s fee schedule. How do I get started? RDC eligibility requires Option 1 Credit Union membership and O1 MOBILE Banking app. From your mobile device choose Mobile Deposit 1 R e m o t e D e p o s i t C a p t u r e F A Q 4 / 1 5

2 Follow the on screen prompts *Note: If you find you do not have access to RDC, please stop by your local branch or contact Option 1 Credit Union at MOBILE BANKING: How do I access Remote Deposit Capture on my mobile phone? Download the Option 1 Credit Union Mobile Banking app from the App Store (iphone) or Market App (Android). Search for Option 1 Credit Union. How can I enroll into RDC - Mobile? To enroll into RDC, you must first be a member of Option 1 Credit Union. If you are a member, you can enroll by downloading the Option 1 Credit Union Mobile app from the App Store (iphone) or Market App (Android). Search for Option 1 Credit Union. For additional information, please visit our website at Do I need to endorse a check submitted with RDC? Yes. For a check to be accepted, an endorsement is required, just as you would if depositing at the ATM or in a branch. Checks that are not properly endorsed may be returned by the financial institution the check is drawn on. Make sure your check is properly endorsed such as: 1. Proper signature(s) of all payees 2. For mobile deposit only How does Remote Deposit Capture identify and prevent fraud? We require all checks to be endorsed with the words For mobile deposit only. This specific endorsement helps ensures that checks deposited through Remote Deposit Capture will not be deposited again at an Option 1 Credit Union branch or at another financial institution by mistake. It is one of many security measures we have put in place to protect accounts from theft and fraud. Do I need to include a deposit slip with my check? No, a deposit slip is not required. How do I verify that a check has been accepted? Once the image of deposit has been completed a pop-up notification indicates the deposit was successful. Check your history and notification. 2 R e m o t e D e p o s i t C a p t u r e F A Q 4 / 1 5

3 Can I deposit more than one check at a time? No, only one check can be deposited at a time. Can I deposit more than one check per day? Yes, you can. We do have daily limits and monthly limits. The app will indicate your current available limit. What happens if I exceed my limit? You will see an error, Amount entered is over the Check Amount Limit. Can I deposit to more than one share account under a single account number? Yes. You can deposit to either your Option 1 checking account or savings account under the same number. Will I have access to the check images after I deposit them? After a check has been deposited, the image will display on the app deposit history for 5 days. After the 5 days you will need to contact the credit union for a copy. There may be a fee for a check copy, refer to the Option 1 Credit Union Fee Schedule for verification. If I discover I've entered an incorrect amount for a deposited check, should I re-deposit the check? The app will reject the image if the amount is entered incorrectly. You will need to reimage and enter the correct amount. Can I use Remote Deposit Capture to deposit funds to accounts other than Option 1 Credit Union checking or savings accounts? No. The eligible deposit accounts will appear in the Accounts list. How quickly will the deposit be credited to my account once the deposit is accepted? All items will show as deposited immediately, regardless of the time of day. If they exceed hold limits, they will appear as PENDING: Check hold in transaction history. What might cause my check to be rejected? If it is not within the check photo guide lines on your screen. If the check amount entered does not match the check amount. 3 R e m o t e D e p o s i t C a p t u r e F A Q 4 / 1 5

4 What type of checks can be deposited with Remote Deposit Capture? Option 1 Credit Union accepts any check that is drawn on a U.S. financial institution in U.S. dollars. This includes: Personal checks Corporate / Business checks Money orders Cashier's checks Certified checks drawn from domestic U.S. funds Note that Government checks are often problematic and are not recommended for Remote Deposit Capture. We suggest you bring those to the branch to ensure timely availability of your funds. We recommend that you setup direct deposit. What types of checks does RDC NOT accept? Unacceptable check types include: Option 1 Credit Union Check Drawn on Personal Account The deposit of a personal check that is drawn on the same account holder's personal checking at Option 1 Credit Union is PROHIBITED. Deposits of this nature will result in the immediate revocation of this service and may subject you to collection efforts. Foreign Checks / Foreign Money Orders A check or money order that is issued by a financial institution in another country (Canada, France, etc.) may ONLY be deposited either in person at an Option 1 branch or by mail to Option 1 Credit Union, PO Box 895, Grand Rapids, MI Altered Checks An altered check is any check that contains evidence of a change (correction fluid, crossed out amounts, etc.) to information on the face of the check. Members with altered checks MUST get a replacement check from the maker before Option 1 Credit Union will accept the deposit. Stale Dated Checks Certain checks contain instructions such as: "Void after 90 days after issue date" or "must be cashed within 6 months of issue date." Incomplete Items An incomplete item is any item that does not contain signatures of the maker, endorsement signatures, or is missing any of the information required. 4 R e m o t e D e p o s i t C a p t u r e F A Q 4 / 1 5

5 Non-Negotiable Items The deposit of any item stamped with a "non-negotiable" watermark is PROHIBITED. Deposits of this nature will result in the immediate revocation of this service and may subject you to collection efforts Damaged Checks Non-legible Checks What should I do with my check after using RDC? To prevent deposit errors we recommend that you document the date and RDC on the front of the check after you ve deposited it. For your protection, retain the original check for at least 30 days from the day of deposit. It is suggested that you retain your check until it has cleared your account. Once cleared, it is a best practice to shred the check. DO NOT mail the check to the credit union. When you are ready to discard it, mark it VOID and dispose of it in a way that prevents it from being presented for payment again. What devices are compatible with RDC? All ios devices with a camera and operating system version 5.1 or newer (including ipods and iphones) ipads from generation 3 and above All Android devices with a camera and operating system version and newer What should I do if I need help using Remote Deposit Capture? The Remote Deposit Capture service is designed to be a convenient service product. Information can be found on the Option 1 website, If you have additional questions simply contact us by calling our 24 hour Call Center, , us at support@option1cu.org, or visit any of our branch offices. 5 R e m o t e D e p o s i t C a p t u r e F A Q 4 / 1 5