Orange County Credit Union Mobile Deposit Funds Availability
Orange County Credit Union (OCCU) is a non-profit financial institution based in California. The credit union provides a wide range of banking services, including mobile banking, to its members. One of the most popular features of OCCU's mobile banking is mobile deposit. Mobile deposit allows members to deposit checks using their mobile device, eliminating the need to visit a branch or ATM. In this article, we will discuss the funds availability policy for mobile deposits at OCCU.
What is Mobile Deposit?
Mobile deposit is a feature offered by many banks and credit unions that allows customers to deposit checks using their mobile device. To use mobile deposit, customers must download their bank or credit union's mobile app and follow the instructions to take a picture of the front and back of their check. Once the check is submitted, the funds are typically deposited into the customer's account within a few business days.
Mobile Deposit Funds Availability at Orange County Credit Union
At Orange County Credit Union, mobile deposit funds are generally available within two business days of the deposit. However, the availability of funds may be delayed in certain circumstances. For example, if a member has a new account or a history of overdrafts, the credit union may delay the availability of funds for up to seven business days.
In addition, the credit union may place a hold on funds deposited using mobile deposit if the check is for a large amount. The hold may be in place for up to seven business days, depending on the amount of the check and the member's account history.
Factors That Affect Mobile Deposit Funds Availability
There are several factors that can affect the availability of funds for mobile deposits at Orange County Credit Union. These factors include:
- The amount of the check
- The member's account history
- The type of check (personal or business)
- The age of the account
Tips for Avoiding Delayed Funds Availability
To avoid delayed funds availability when using mobile deposit at Orange County Credit Union, there are several things members can do:
- Endorse the check properly
- Make sure the check is legible
- Deposit the check during business hours
- Make sure the check is not post-dated or stale-dated
Conclusion
Mobile deposit is a convenient feature offered by Orange County Credit Union that allows members to deposit checks using their mobile device. While funds are generally available within two business days of the deposit, there are several factors that can affect the availability of funds. By following a few simple tips, members can avoid delayed funds availability and enjoy the convenience of mobile deposit.