Fort Hood National Bank Mobile Deposit Funds Availability
Fort Hood National Bank (FHNB) is a financial institution that provides services to members of the military, their families, and other eligible customers. One of the convenient features offered by FHNB is mobile deposit, which allows customers to deposit checks from their mobile devices. However, it is important to understand the funds availability policy for mobile deposits.
What is Mobile Deposit?
Mobile deposit is a service that allows customers to deposit checks using their mobile devices, such as smartphones or tablets. To use mobile deposit, customers must have an FHNB account and the FHNB mobile app installed on their device. Once the app is installed, customers can take a photo of the front and back of their check and submit it for deposit.
Funds Availability Policy for Mobile Deposits
FHNB's funds availability policy for mobile deposits is based on the Check 21 Act, which was enacted by the federal government in 2004. Under this policy, the first $200 of a mobile deposit is available for immediate withdrawal. The remaining funds may be held for up to two business days.
However, there are some factors that can affect the availability of funds for mobile deposits. If a customer has a history of overdrafts or returned items, FHNB may hold the funds for up to seven business days. Additionally, if the deposit is made outside of FHNB's business hours or on a weekend or holiday, the funds may not be available until the following business day.
Tips for Using Mobile Deposit
To ensure the quickest availability of funds for mobile deposits, there are some tips that customers can follow.
- Make sure the check is properly endorsed with the customer's signature and "For Mobile Deposit Only" written underneath.
- Ensure the check is not torn, folded, or damaged in any way.
- Take a clear photo of the front and back of the check, making sure that all four corners of the check are visible.
- Verify that the correct account and amount are entered before submitting the deposit.
Conclusion
Mobile deposit is a convenient feature offered by FHNB that allows customers to deposit checks using their mobile devices. However, it is important to understand the funds availability policy for mobile deposits to avoid any unexpected holds on funds. By following the tips for using mobile deposit, customers can ensure the quickest availability of their funds.