Q: What is it? - Mobile Deposit is the ability to deposit checks via your smart phone or tablet. - An image of your check is taken via the Mobile App and is electronically submitted for deposit to Yampa Valley Bank.
Q: Is there a fee? - No, Mobile Deposit is a free service.
Q: What are the eligibility requirements? - Account must be open for at least 60 days. - Any deposit account that is setup on your Mobile Banking App is eligible. - No more than 3 overdrafts in a monthly cycle. - No more than 5 overdrafts in the last 12 months.
Q: How can I get it? - Log onto Internet Banking > go to Services > Select YVB Mobile Deposit Enrollment. - Read and Accept the Terms and Conditions. - You will be notified via email when Mobile Deposit has been enabled on your device.
Q:What kind of device do I need? - Generally, the more recent versions of Apple and Android smart phones and tablet devices with internet connectivity (WiFi, 4G LTE, or 3G LTE are the best options) will work with Mobile Deposit. - Smart Phones with rear facing cameras: iPhones(iOS6+) and Androids (4.1+). - Tablets with rear facing cameras: iPads (2+) and Android Tablets. - Other devices such as Blackberry, Windows based phones, and e-reader tablets such as Kindle Fire and Nook tablets are not compatible with Mobile Deposit at this time.
Q: How do I properly endorse and capture the check I am trying to deposit? - A check will not be accepted without proper endorsement. The following are required on the back: Payee Signature or Business Endorsement (should match payee on check) and Mobile Deposit (write these words under the signature) - Place the check on an uncluttered clean background surface that is darker than the check. Fit the check within the frame when capturing the image; the check should be the only thing visible in the image. Images that do not capture the entire check will likely be rejected. - You are required to capture both the front and back of the check. - If your device prompts you to, tap the center of the screen to help auto focus the camera. - Steady your hands when taking the image; try placing your elbows on the surface to help.
Q: Are there any restrictions on the type of checks I can deposit? - Checks NOT eligible to deposit via Mobile Deposit include checks drawn on foreign countries and checks payable to any person or entity other than you. See section 4.1 of the Terms and Conditions for a complete list of items.
Q: How secure will this process be? - Several layers of added protection are built into the Mobile App. - Check images are captured within the Mobile App and are not stored on your camera roll or otherwise on your device. - Access to the Mobile App requires credentials.
Q: How will I know when the check has been deposited? - The Mobile Deposit Activity Screen provides the status of deposits made via Mobile Deposit. - Click on each transaction for the status details: Accepted - indicates the check has been processed for deposit into your account. Rejected - indicates there was a problem with the submission; you will need to call the bank at 970-879-2993 during bank hours. In most cases a rejected reason will be displayed.
Q: When can I expect my deposit to be credited to my account? - Deposits made prior to 3:30 p.m. (MST) on regular business days will be posted to your account the same day. - Deposits made after 3:30 p.m. (MST) on a regular business day will be posted the next business day. - Deposits made on a holiday, weekend, or non-regular business day will be posted and credited the next business day.
Q: Is there a daily cut-off time for deposits? - There is no cut-off time to make deposits; they can be made anytime, anywhere. See question 10 for posting times.
Q: What do I do with the check once I have submitted it for deposit? - Yampa Valley Bank highly recommends that each check deposited via Mobile Deposit be held for at least 7 business days. - Yampa Valley Bank recommends you shred or otherwise destroy the check after the holding period.
Q: What happens if a check is submitted for deposit more than once? - If the same check is submitted more than once, only one will be accepted and the other rejected. Repeated occurences of multiple submissions will result in a loss of Mobile Deposit privileges.
Q: Can I resubmit via Mobile Deposit a check returned for non-sufficient funds? - No, a check returned for non-sufficient funds cannot be resubmitted via Mobile Deposit. To resubmit, it should be presented at the local office of Yampa Valley Bank.
Q: What are the terms and conditions for using Mobile Deposit? - Yampa Valley Bank assumes no responsibility for checks that are returned non-sufficient funds or are not properly endorsed. - The customer assumes all responsibility as stated in the terms and conditions detailed in the Mobile Deposit Agreement. - Yampa Valley Bank reserves the right to discontinue access to Mobile Deposit for any reason, including but not limited to non-adherence to the terms and conditions. - A full copy of the Terms and Conditions is available at Online Banking under Services > YVB Mobile Enrollment > Mobile Deposit Terms and Conditions.
Q: Are there limits on how many or how much can be submitted via Mobile Deposit? - Yes, the limits are as follows:
Basic Mobile Deposit for Consumers
Max Amount Per Deposit $2,500 Max Deposit Per Day $5,000 Max Item Per Deposit 1 Max # of Deposits Per Day 5
Basic Mobile Deposit for Small Businesses Max Amount Per Deposit $10,000 Max Deposit Per Day $30,000 Max Item Per Deposit 1 Max # of Deposits Per Day 15
With prior arrangement, limits may be raised permanently or for a one-time situation. Please contact an Account Representative for more information in Steamboat at 970-879-2993 and in Craig at 970-824-3600.
Q: Who can I call for help? - Call YVB Steamboat at 970-879-2993 or YVB Craig at 970-824-3600 Monday through Friday from 8 a.m. to 5 p.m. (MST). - In addition, you may visit with an Account Representative in Steamboat or Craig.