If you already have the Lowell Five Mobile Banking app, you must install the ... write 'scanned' on the front of the check for record keeping. Also, please keep the ...
With Lowell Five's Mobile Deposit, you can use your smartphone to securely deposit a check directly into your account. All you need is your smartphone or tablet, an eligible Lowell Five checking account and the Lowell Five Mobile app. If you already have the Lowell Five Mobile Banking app, you must install the latest version before using Mobile Deposit. Once updated or initially installed, simply follow these steps below.
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Sample Once you submit the check for deposit, you will receive an immediate confirmation. You will see the credit in your account later in the day or on the next business day. Once you are all done, write ‘scanned’ on the front of the check for record keeping. Also, please keep the check in a safe place for 60 days and then securely destroy it.
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Other information regarding Lowell Five’s Mobile Deposit service: There are no limits to the number of deposits you can submit. Transaction Limits • Daily = $5,000.00 • Weekly = $10,000.00 • Monthly = $25,000.00 Check Requirements In addition to adhering to the dollar limits, checks will be accepted for deposit when: • Prior to scanning the original check, the back is endorsed. The endorsement must include the following: 1.The words “For Lowell Five Mobile Deposit Only” 2. Your signature If any information is missing, we reserve the right to reject the check for deposit. • The scanned check (transmitted to The Lowell Five) must accurately and legibly provide the following: 1. The information identifying the maker of the check (name and address) 2. The name of the financial institution 3. Complete and accurate MICR information 4. Complete and accurate signature(s)
Timing & Funds Availability The Mobile Deposit files will be processed twice per business day, first at approximately 9:30 am and again at 2:30 pm. You will be able to access check images for 90 days in your Mobile Deposit history. Checks will be held according to the Bank’s funds availability policy. Checks may be rejected if they are: • Checks written from the same account you are depositing into. • Checks stamped with a “non-negotiable” watermark. • Checks that contains evidence of alteration to the information. • Checks drawn on a financial institution in a foreign country. • Checks with missing information. • Stale or post-dated checks. • Travelers Cheques. • Any third party check, i.e., any item that is made payable to another party and then endorsed to you by such party. • Photocopies of checks. • Lottery or prize winning checks. • Checks previously submitted for deposit.
