Georgia Own Credit Union Mobile Deposit Funds Availability
Georgia Own Credit Union is a financial institution that provides online banking services to its members. One of the most popular features is mobile deposit, which allows members to deposit checks using their smartphones. However, some members may wonder when the funds will be available in their account after making a mobile deposit. In this article, we will discuss the funds availability policy of Georgia Own Credit Union for mobile deposits.
What is Mobile Deposit?
Mobile deposit is a convenient way to deposit checks without visiting a bank branch. With this feature, you can use your smartphone to take a picture of the front and back of a check and submit it to your bank for deposit. This eliminates the need to physically go to a bank branch, saving you time and effort.
How Does Mobile Deposit Work at Georgia Own Credit Union?
Georgia Own Credit Union offers mobile deposit through its mobile banking app. To use this feature, you must first download the app and enroll in mobile banking. Once you have enrolled, you can log in to the app and select the mobile deposit option. You will be prompted to take a picture of the front and back of the check and submit it for processing. After submitting the check, you will receive a confirmation message that the deposit has been received by the credit union.
What is the Funds Availability Policy for Mobile Deposits?
Georgia Own Credit Union's funds availability policy for mobile deposits is as follows:
- For checks less than $200, the first $200 will be made available on the next business day after the deposit is received.
- For checks greater than $200, the first $200 will be made available on the next business day after the deposit is received, and the remaining funds will be made available on the second business day.
- If the check is returned unpaid, the funds will be deducted from your account.
It is important to note that these are the general guidelines for funds availability for mobile deposits. Georgia Own Credit Union may hold funds for longer periods of time if there is a suspicion of fraud or if the account is new or has a history of overdrafts. In addition, the credit union may place a hold on funds for a variety of other reasons.
Conclusion
Mobile deposit is a convenient way to deposit checks without visiting a bank branch. Georgia Own Credit Union offers this feature through its mobile banking app, making it easy for members to deposit checks on the go. However, it is important to understand the funds availability policy for mobile deposits to avoid any surprises or misunderstandings. By following the guidelines outlined in this article, you can ensure that you have access to your funds as soon as possible.