Looking for an easier way to deposit checks into your Schwab account? Charles Schwab now has Schwab Mobile Deposit. You can deposit checks wherever you are with their mobile check deposit service. You can make deposits to your eligible Schwab Bank or Schwab Brokerage and IRA accounts by simply taking pictures of your checks with a compatible iPhone, iPad, or Android smartphone. Mobile deposits that are submitted before 4 p.m. local time within the United States will be processed the same business day. They use the same security measures for this as they do on Schwab.com. For added protection, your passwords, check deposit records and check images are not stored on your smartphone after submission.
Before you can begin your mobile deposits to Schwab, you’ll need to apply for this service. You can apply quickly and easily on your device. First, you will need to download the Schwab Mobile app and log in. Then, click on “Deposit”. When the “Apply for Schwab Mobile Deposit” screen appears, click apply. You will then be able to select the account(s) that you would like to authorize mobile deposits. When your application has been approved, you will receive an email. Once you receive that email, you can start depositing checks with the use of your smartphone.
After you have been approved, the steps are simple:
1. Click “Deposit Check”.
2. Select the account you would like to deposit your check into.
3. Enter the check amount.
4. Take a clear picture of both sides of the check. You will need to endorse your check by signing your name on the back.
5. Click “Review Deposit”
6. Click “Deposit”
7. Lastly, you will receive a deposit acknowledgment along with an email confirming the deposit.
If you have any questions, please give us a call.
Chesapeake Financial Advisors is a fee-only financial planning, investment advisory and tax preparation firm with offices in Towson, Bel Air and Columbia, Maryland.