Are you taking advantage of mobile check deposit?

April 25th, 2014 Jack Courtney
mobile deposit

Mobile deposit – once a rarity among banks – has become one of the most sought after services in the banking industry.

A recent report from ath Power Consulting identified remote deposit capture as mobile banking users’ most desired feature in apps. Banks – including MidWestOne – are responding. Research from Celent shows that in 2009, 72 percent of surveyed financial institutions had no plans to offer mobile deposit to its customers. By 2012, that number had dropped to 18 percent.

Although with advances in smart phone technology, consumers can thank the Check Clearing for the 21st Century Act (Check 21 Act) for mobile deposit. The federal law is designed to enable banks to handle more checks electronically, which should make check processing faster and more efficient. Traditionally, banks often physically move original paper checks from the bank where the checks are deposited to the bank that pays them. This is inefficient and costly. The law allows the recipient of the original paper check to create a digital version, turning it into an electronic format called a “substitute check.” This eliminates the need for further handling of the physical document.

MidWestOne recently made mobile deposit available to its customers.

This safe and convenient service is available on iPhone®, iPad®, iPad Mini®, or Android® phones and is designed to make the process of depositing a check much easier.

How does it work?

Depositing a check is as simple as opening your MidWestOne Mobile Banking app, and within a few steps your deposit will be submitted for review and approval. Deposit checks while waiting at the doctor’s office, on lunch break, or at your child’s soccer practice.

  • First, select “New Deposit” and the account the check(s) should be deposited in.
  • Enter the deposit amount, taking pictures of the front and back of the check.
  • Follow steps for a simple verification, and touch “yes” to submit the deposit for review and approval by MidWestOne. Fast, simple and easy!
  • Up to $2,000 can be deposited a day.

Safe and secure

With a mobile banking app, security is of paramount importance. That’s why there are a number of features you can activate on your phone and that are included within the MidWestOne app to make sure your information is secure and protected.

In addition, we recommend you use these easy tips for a safe mobile deposit experience and to avoid unauthorized access to your mobile device.

  • Use password protected features available on your mobile phone. This is the first line of defense in protecting your phone from unauthorized users.
  • Delete old text messages that include private information.
  • Avoid using unsecured or public Wi-Fi connections whenever possible, especially when accessing private information, such as your bank account.
  • Activate security features on your phone such as data encryption and firewall features. Consider using a security suite that protects your device from viruses and malware, similar to what you would use on your laptop.  Some of these services also allow you to remotely “wipe” your phone clean of personal information in the event that it is stolen.
  • Do not open unsolicited text and email messages.
  • Take caution when using public mobile device chargers, which can be planted with fraudulent software or extract data from your phone.

For more information about MidWestOne Bank’s mobile deposit feature, go to

About the author

Jack Courtney is E-Commerce Officer at MidWestOne Bank.

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