bank of america

Bank of America Mobile Deposit Limits

The Bank of America is a global investment bank and financial services provider for the USA and is the second-largest bank of its kind in the United States of America. The bank was established in 1998 by NationsBank following its acquisition of BankAmerica. Bank of America has introduced the mobile banking option for customers with accounts. In the meantime, Bank of America accounts holders can make deposits on checks via their mobile banking application.

Bank of America Bank of America allows mobile check deposits on any mobile equipped with a camera and their mobile banking application. There is, however, an upper limit to the amount you can make a mobile deposit if your account is three months old or more; the maximum mobile deposit of $10,000 per month. In contrast, for accounts that are less than three months old, the limit for mobile deposits is $2,500 per month. In addition, for customers of Bank of America’s Preferred Rewards who have membership for less than three months, the maximum deposit is $25,000 per month, and for those who have been members for longer than three months. The limit for deposits of $50,000 per month.

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How Long Does Bank of America Mobile Deposit Take?

How long it takes the Bank of America mobile deposit to reach your account depends on the zone where your account was created, what type of deposits you make, and when the deposit was made.

Check Deposits

Checks made before the cut-off time of the day of business are typically available on the next business day. Cut-off times, based upon the time zone according to the following:

  • Eastern: 9 pm E.T.
  • Central: 9 pm E.T.
  • Mountain 8: p.m. PST
  • Pacific 8 pm Eastern Time: 8 pm.
  • Accounts are opened through Bank of America financial centers in New Mexico, western Kansas, and El Paso, Texas: 9 pm E.T.

If, for instance, you created the accounts within the Eastern time zone, and you deposit your check before 9 pm on Thursday, your money will be available by Friday.

If you make your deposit within nine p.m. on Friday, your funds will be available on Tuesday.

A deposit made on a weekend or a day that falls on a Saturday will be accessible on Tuesday. Deposits made on federal holidays will be credited to your account on the day that follows the day of business following. For instance, if the holiday is Monday, your funds will be available by Wednesday.

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When Funds May Be Delayed

Bank of America will hold sure or all of the deposited checks when it’s not immediately processed. If this happens, you will receive an email informing you of the date and what time the money will become available to you and giving you the option of canceling the deposit. However, the initial $225 you deposit will be accessible to you the following business day.

Some rules are unique for opening new accounts, however. In the first 30 days that your account is open, the funds from personal checks are typically available on the fifth business day following the deposit. When you deposit a certified cashier’s check or travelers, teller, or government checks, the initial $5,525 of daily deposits are accessible before the second day of business. The remaining money is available on the fifth day of business following the deposit.

Transfers

Transfers to Bank of America are done differently from check deposits. You’ll be able to access instantly the money you have transferred from your account to another Bank of America deposit account. However, if the transfer occurs after 10:45 pm on a working day, you won’t be able to see the transfer in your log until the following day. Transfers made on a weekend, Sunday, or bank holiday will be visible in your transfer history the next business day.

Benefits and Drawbacks of Bank of America Mobile Deposit

Most customers will find the Bank of America mobile deposit an effective instrument. However, there are some disadvantages.

Benefits

  • Check deposits are quick, safe, at no cost, and completely safe.
  • Checks for funds made are available from check cashiers as well as government-issued checks are available the next day.
  • Customers can save copies, print, or email them the checks they deposit.

Drawbacks

  • Personal check funds for new accounts won’t be available for up to five working days.
  • Mobile deposit isn’t accessible to the money order traveler’s checks, money orders, or checks issued by third-party organizations.
  • Bank of America imposes a monthly limit on deposits to checking accounts. The app tracks the number of warranties left.

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How To Deposit Checks With Bank of America Mobile Deposit

This is relatively easy. All you need to do is own a smartphone or tablet equipped with cameras. Once you have that, you can remove the cash from loose or stubs hanging paper. You then make sure you sign on the back of the cheque. Then, you place the check-in a way it is flat on a dark-colored and well-lit surface. Then, follow these steps.

  1. Sign the reverse of the Bank of America checks by signing it.
  2. Log in to the app, then open it and sign in.
  3. Click on”Deposit checks” and click on the “Deposit Checks” link.
  4. Photo the front and the back of the check using your smart device by pressing the “Front of Check” and “Front of Check” and “Back of Check” buttons within the app.
  5. Choose the account to which you’ll be depositing the check.
  6. Input the total amount of your deposit.
  7. Verify the deposit details.
  8. Tap “Deposit.”

How To Connect With Bank Of America If There Is Any Problem With Mobile Deposit?

Bank of America is committed to providing the best financial services to its customers. If you have any issues with your mobile deposit, you can call customer service for assistance.

1. Bank of America Customer Service: 800-432-1000

2. Outside the U.S.: 1-315-724-4022

3. Spanish: 800-688-6086

4. For Individuals Who Are Deaf or Hard of Hearing: 800-288-4408

What Will Happen If There Is Any Problem With A Mobile Deposit?

Suppose there’s a problem with the deposit check, for example. In that case, the review is insufficient or could be fraudulent or fraudulent; you will receive an email requesting you take the deposit to a bank to address the problem.

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