What term describes a mobile banking tool that allows you to deposit checks to your bank account using your mobile device?

What term describes a mobile banking tool that allows you to deposit checks to your bank account using your mobile device?

• A. Direct Deposit
• B. Mobile Deposit
• C. Endorse
• D. Low Balance Alert

Answer: (B)

Mobile Deposit is the feature that lets you deposit checks using a mobile device through your bank’s app. You typically capture images of the check (front and back), confirm the amount, and the bank funds the deposit into your account. This differs from Direct Deposit (electronic funds from a payer), Endorse (signing the back of a check to authorize transfer), or Low Balance Alert (a notification when your balance is low). Funds availability may vary and can involve a short hold while the check clears.

Mobile Deposit is the feature that lets you deposit checks using a mobile device through your bank’s app. You typically capture images of the check (front and back), confirm the amount, and the bank funds the deposit into your account. This differs from Direct Deposit (electronic funds from a payer), Endorse (signing the back of a check to authorize transfer), or Low Balance Alert (a notification when your balance is low). Funds availability may vary and can involve a short hold while the check clears.