With online-only fintech services such as Chime, you probably wonder what options you have when it comes to depositing checks. Fortunately for you, the platform makes it easy to manage checks anytime and anywhere.
Here is how you can deposit checks on Chime.
How To Deposit Checks On Chime:
You can deposit checks to your Chime account by using the mobile check deposit feature on the app. Simply tap the “Move Money” button, then “Mobile Check Deposit.” Afterward, choose the type of check you are depositing and follow the rest of the on-screen instructions.
However, to enjoy this feature, you need to meet Chime’s criteria. Eligibility is based on your account’s history, direct deposit amounts, and other risk-based factors.
You need to have received a qualifying direct deposit of at least $1 either from an employer or payroll provider via an automated clearing house (ACH) transfer, a gig economy payer via ACH transfer or original credit transactions (OCT), or a government benefit via ACH transfer.
Once you become eligible, Chime will automatically enable mobile check deposits in your app. This is free. There are no fees associated with check deposits on Chime.
To start depositing checks to your Chime account, you need to do the following steps:
1. Open the Chime app and enter your login details.
2. Tap “Move Money” > “Mobile Check Deposit.”
3. Choose the check type: U.S. Treasury, Payroll Provider, or Other.
4. Select the account (checking or savings) you wish to deposit the check into.
5. Enter the check amount.
6. Endorse the check by signing the back of the check.
7. Take a photo of both sides of the check.
8. Confirm the deposit.
When taking a photo of the check, you must place it on a clean, dark surface. There should be no other item seen in the picture.
Smooth out any creases on the check and make sure that all four corners are visible.
Finally, you should ascertain that the camera is properly focused and you use good lighting.
Your check may be rejected for several reasons. If this happens, Chime will send you an email and a notification so that you can resubmit your check.
Chime will only accept checks that are payable to you, have not been previously deposited at a different institution, are dated within the last six months, and are free of alterations.
You should note that Chime’s mobile check deposit does not work with money orders, traveler’s checks, and saving bonds.
Similarly, you cannot deposit starter checks, counter checks, and promissory notes to your Chime account.
After a mobile check deposit, your money will appear in your Chime account within five business days. This is enough for Chime to check that the check will not bounce.
You should note that check deposits only work using the Chime app. It is not possible to do this via the Chime website.
How To Deposit A Cashier’s Check On Chime:
Once Chime enables mobile check deposit in your app, depositing a cashier’s check in your Chime account is easy. Just do the following steps:
1. Prepare your cashier’s check. Make sure that the name on the check is the same as your Chime account.
2. Sign the back of the check, then indicate “For deposit to Chime only” under your signature.
3. Log into the Chime app and tap the “Move Money” button at the bottom of the screen.
4. Select “Mobile Check Deposit.”
5. Follow the rest of the on-screen instructions.
Once submitted, your check deposit will show up under pending transactions. Typically, you will have to wait three to five business days for the check to be cleared.
What Is The Deposit Limit On Chime?
Chime’s mobile deposit limit is $10,000 every month. For U.S. Treasury checks, the limit is $5,000 per deposit. You can also make up to three mobile deposits every 24 hours. Once you reach the daily or monthly limit, you will have to visit any authorized retail locations to make check deposits.
For non-US Treasury checks, the maximum amount per deposit is $2,000. You can also deposit a maximum of ten checks per month.
Rejected checks are usually due to problems with verification. Chime may have encountered setbacks in validating the check details or payer information.
If you are not able to deposit a check with Chime, you should contact the Chime support team by calling 1-844-244-6363 or sending an email to firstname.lastname@example.org
What Is the ACH Deposit Limit On Chime?
The ACH deposit limit on Chime is $10,000 per day and $25,000 per calendar month.
ACH payments are electronic payment that pulls funds directly from someone’s account. You do not have to write a paper check to send money.
Since ACH payments are paid online, the processing time is shorter. Most banks also prefer ACH payments to paper checks and process them first before the other.
There are also fewer cases of check returns and fraud.
With Chime, ACH payments allow users to send and receive bigger amounts per month. If you are expecting a huge payout, an ACH transfer is the better option.
Does Chime Accept Third-Party Checks?
Yes. Chime accepts third-party checks. However, the check must be payable to you for the money to be deposited into your account.
You should also make sure that the owner’s check is endorsed by signing at the back.
To deposit a third-party check, open your Chime app and tap on mobile check deposit. Simply upload a photo of the valid check and wait for Chime’s verification team to approve it.
If the check’s details are incorrect or the image is blurry, Chime will likely reject it so take extra care. Make sure to double-check the check details and only upload a clear image.
Can You Deposit Someone Else’s Check Into Your Chime Account?
Yes. You can deposit someone else’s check into your Chime account provided that it has been endorsed to you by the owner.
This usually means writing your name on the back of the check, then affixing your signature.
The name on the check and the name on your Chime account should be the same. If not, there is no way Chime will accept your mobile check deposit.
Voided Checks On Chime:
You can void a check on Chime by writing the word “VOID” on the front of the paper check using a pen or marker.
Voiding a check means not being able to use it to make payments.
Typically, voided checks are used to share banking information without fear of someone else taking money from your bank account.
You can share your account number, routing number, and check number and use them to create an electronic link to your account.
If you want your employer to pay your salary electronically through direct deposit, you can send a voided check to furnish your banking information.
You may also use it to set up payments for monthly expenses, such as mortgage, insurance, and rent.
To void a check, you should do the following:
1. Write “VOID” in larger letters across the front of your check. Use a pen with black or blue ink that cannot be erased.
2. Cover as much paper space as you can, but keep the account or routing number visible. You need those numbers to send and receive payments.
3. Keep a record of the voided check for reference.