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New Mobile Deposit Guidelines

July 12, 2018Newsletter

One of Beehive’s most popular services is the ability to deposit a check through our Mobile App. This feature is called “Mobile Deposit” or MD for short. It is easy, convenient, and gives you the flexibility to make check deposits anytime, anywhere! Newer technology like MD has impacts on the behind-the-scenes operations of our credit unions and banks. As of July 1st, a new federal regulation makes it necessary for all institutions to require additional information when signing the back of the check. Without the additional wording, the institution will become liable if the check is also presented at a different institution’s physical location. In other words, starting immediately, ALL CHECKS DEPOSITED THROUGH OUR MOBILE APP will be required to have additional written wording on the back of the check! The new requirements are the signature, date, and the words “For Mobile Deposit Only at Beehive FCU”. Otherwise the check will be returned as “Not Properly Endorsed”. Please read the instructions carefully when using Mobile Deposit. As always, if you have any questions, feel free to contact us at 208-656-1000. Happy Mobile Depositing!