Chime allows its consumers to deposit the checks while offering many other top-notch financial services. The company is known to charge no monthly maintenance or overdraft fees from its users. While it accepts various checks, let’s talk about can you deposit a paper check in Chime or not.
Chime offers simple banking options with no minimum balance fees. It also eliminates the need for foreign transaction fees attached to Chime. Customers can receive their paychecks two days before the actual day, getting early access to the direct deposits.
Can You Deposit a Paper Check in Chime?
Chime is one of the top technology companies that has been offering digital banking options for customers. It charges no overdraft fees, or monthly fees, and gives you easy access to the direct deposits. It has large ATM networks across the country to ease people with transaction processes.
Chime is best for banking consumers who are looking for straightforward banking services. You can open a spending account with a debit card and use it overseas without foreign transaction fees.
In addition to this, if you have received a paper check, you can safely deposit it using the Chime mobile app. It offers the feature of Mobile Check Deposit if you have received a deposit of at least $1 from your employer, payroll provider, gig economy payer, or government benefits.
For all the digital-savvy bankers out there, Chime is perfect to fit your financial service needs through its well-formed features. While Chime provides you the best of all, you can also activate the direct deposit feature to receive payments from social security, tax refunds, or disability income.
You can easily activate the Chime direct deposit feature if you have your Chime account number and the routing number. You need to fill out a direct deposit form by providing all the necessary details to give your payor. This must also include all your Chime bank details.
Say no to the traditional fatigue of depositing the checks at a bank branch, and do it via the user-friendly Chime mobile app. However, it is important to know that there is no way yet to enable the mobile check deposit with Chime.
It requires a certain criterion that includes that you must meet the required payroll amount via the direct deposit first, and the application will automatically give you the option to deposit a check using the mobile check deposit feature.
How to Deposit Checks with Chime?
Chime does not allow every individual to be able to deposit a check. The financial provider goes through your account’s history, direct deposit history, amount, and other risk-based factors to clarify.
Once allowed, employer, payroll provider, and government benefits should be received as ACH transfer. On the contrary, you can receive gig economy income via ACH transfer or OCT.
Here is how you can conveniently deposit a check with Chime using its mobile check deposit feature. While you can escape the extra hassle of going to banks physically every time, doing it via the app also ensures security and guarantee that your check gets processed.
- Go to the Chime app on your mobile.
- Now, click on the option of Move Money.
- Next, select the option of Mobile Check Deposit right under the option of Add Funds.
- Now choose the account that you want to deposit the check into. It can either be your checking account or your savings account.
- Next, you need to type the correct amount written on the check.
- Sign at the back of your paper check and do not forget to write Deposit only under your signature.
- Once done, take a clear picture of the check, both from the front and back sides.
- Review all the deposit details carefully to avoid any inconvenience.
- Lastly, confirm your deposit and that is it.
Chime allows you to deposit up to $2000 per check, and you can make a maximum of 10 deposits a month, the maximum mobile check deposit limit is however $10,000. Also, note that every bank has a different processing time, but traditionally you will have to wait for a week to get money in your Chime account.
Can You Deposit Checks with Chime through Mail?
Another great feature of Chime is that you can deposit the checks through Mail. chime offers a Checkbook feature to be precise where you can request a check to be sent through the mail. This not only helps you save from physical checkbooks but also adds to your debit card points.
To deposit the checks using the Chime Checkbook feature, here is what you need to do.
- Go to the Chime app on your smartphone.
- Click on the option of Move Money.
- Now, select Chime Checkbook located right under the option of Pay Bills.
- Next, choose between A Business or An Individual account where you want to send the check in.
- Once done, fill out the check mailing address details carefully.
- Now you need to type your account or the bill number for reference.
- Lastly, click on Mail Check. And voila. You are done!
You must know that only those users who are using the Chime accounts for at least 30 days can access this feature. The Checkbook feature offers deposit limits of up to $5000 per payment and $10,000 per calendar month. The Chime-enabled check will reach your payee in 3 to 5 business days maximum.
How Much Time Does Mobile Check Deposit Take?
The time mobile check deposit takes via Chime varies with the type of check you are depositing. It does not hold much of a difference, but there can still occur variations since every bank requires different times.
Typically, a mobile check deposited with the Chime can be instantly placed in your account balance. Moreover, it gets credited usually within 24 hours of acceptance. The maximum time, however, for the mobile check deposit to go through is five business days.
If by any chance, there has already been a week and you have not yet received the money, you can follow up with the issuing bank. You can also get in contact with the Chime customer support service regarding it.
Specific reasons that you must know of because which your bank can hold your check include.
- If the deposited check may not be paid.
- You are depositing a check for a large amount; not abiding by the deposit limits.
- Or there can be frequent overdrafts in your account.
What Are Some Things to Consider for Mobile Check Deposit?
Every financial platform comes with certain rules and regulations, and so does Chime. Before diving into availing of the Mobile Check Deposit feature of Chime, there are certain things that you must pay attention to.
- Your check is only payable in US dollars, and no other currency.
- Your check must not have been previously deposited at any other institution.
- It should not be a digital reproduction at any cost.
- It must be free of any fabrication, alterations, signs of fraud, and illegible items.
- It must be dated within the last six months and no later than that.
- It should be from a financial institution that is located within the premises of the United States.
- It should not have been created remotely.
In addition to the above-stated factors, some of the check types that cannot be catered to using Mobile Check Deposit are.
- Travelers Cheques
- Money orders
- Started checks
- Non-negotiable instruments
- Savings bonds
- Counter checks
Before You Go!
It is not difficult to now skip your trip to a bank and deposit the checks instantly within the comfort of your home. Learning more about this is also useful since there are many stores accept eCheck personal checks now. Chime allows a super convenient way to deposit the paper checks into your savings or checking account. With its Mobile Check Deposit feature, you can deposit the checks remotely. Be it government checks, tax refunds, or stimulus checks, Chime supports it all.
It does however come with a few rigid criteria to prevent any financial fraud on the platform. The company processes your checks instantly, but it can as well hold your check if suspicious. As for safety, Chime offers complete security of your information while sending and receiving money. Use this next-generation feature to make online banking more delightful and easy.
Miriam Caldwell is a dedicated & expert freelance writer to educate people about personal finance management and budgeting. She shared her knowledge and published the articles at TheBalance.com, GOBankingRates, and BlissfullyDomestic.com. Many financial institutes pick Caldwell as the brilliant source for educational personal finance content.