1. Where would I find information about the Mobile Check Deposit service?
2. Our Mobile Check Deposit Process Changed. What Does This Mean?
For our members’ protection, we’ve updated the check endorsement instructions for mobile deposits made through the Launch FCU app.
From now on, you will need to follow these steps when making a mobile deposit:
- Select the account you wish to use for your deposit.
- Enter the amount.
- Sign the back of your check and write, “For Mobile Deposit only at Launch FCU” below your signature.
- Take a photo of the front of your check.
- Take a photo of the back of your check.
- Submit your deposit.
3. What is Mobile Check Deposit?
Mobile Check Deposit is a service offered by Launch FCU that allows our members to deposit checks through an Android, IPhone or IPad device. Depositing a check is as easy as taking a photo. Simply log into the Launch FCU mobile app on your iPhone, iPad or Android device and make deposits into your personal checking account.
4. What are the qualifications for Mobile Check Deposit?
- 18 years or older
- Member for 30 days
- Active personal Checking Account
- Enrolled in E‐Statements
- A current email address on file with Launch FCU
- A member in good standing
5. What types of accounts accept Mobile Check Deposit?
You may deposit into your Launch FCU personal checking accounts. Business Accounts are not eligible for Mobile Check Deposit at this time.
6. How should I endorse the check for Mobile Check Deposit?
On the back of the check, the endorsement must include:
- The words “For Mobile Deposit Only at Launch FCU”
- Your endorsement/signature
Checks payable to more than one payee with “and” will require each payee’s endorsement and each payee must be a signer on the account
Checks payable to more than one payee with “or” requires only the endorsement of the payee making the deposit.
PLEASE NOTE: If the back of the check is not properly endorsed, we reserve the right to reject the check.
7. How many checks can I deposit using the Mobile Check Deposit Service?
You can deposit up to your deposit limits; however, you can only deposit one check at a time.
8. What are my Mobile Check Deposit limits?
- Per Deposit Limit –$2,500.00
- Daily Deposit Limit –$2,500.00
- Weekly Deposit Limit – $5,000.00
- Monthly Deposit Limit – $10,000.00
9. What types of checks are not accepted for deposit?
The following list of unacceptable items may not be deposited using the Mobile Check Deposit Service:
- Any item drawn on your account (or your joint owner’s account) at Launch FCU
- Any item stamped with a “non‐negotiable” watermark
- Any item that contains evidence of alteration to the information on the check
- Any item drawn on a financial institution in a foreign country
- Any item that is incomplete
- Any item that is “stale dated” or “post‐dated”
- Savings Bonds
- 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
- Checks purported to be a lottery or prize winning
- Checks previously submitted for deposit
10. When will deposited funds be credited to my account?
Images received by the daily cutoff time of 1:30 pm EST will be treated as same day deposits. Images received after the daily cutoff time or on a non‐business day will be considered a deposit made on the next business day we are open.
Mobile Check Deposits may be placed on a two business day hold. In some cases, a longer hold may need to be placed. The length of hold can be verified by clicking in the Online Banking “Available Balance column”.
11. How will I know when a deposit has been credited to my account?
You will receive a confirmation email stating if the item has been approved or denied.
12. What should I do with my check after I have submitted it with Mobile Check Deposit?
After your check is submitted, write scanned across the front of your check. Please store your check in a safe place for 30 days, and then securely destroy it. If you keep it for your records please be sure not to re‐deposit the check again through Launch FCU’s mobile check deposit or elsewhere. Your Mobile Check Deposit privileges will be terminated when Launch FCU becomes aware of re‐deposited items.