How Long Does Current Take to Deposit a Check?

Written by Banks Editorial Team
4 min. read
Written by Banks Editorial Team
4 min. read

You’ve received a check, and now it’s time to deposit it. Waiting too long can result in the check’s expiration, but you don’t have to visit the bank to deposit your check anymore. Fintech companies like Current let you deposit a check by taking a screenshot. Financial technology will read the check and deposit the funds into your account.

If you have never deposited a check like this before, you may wonder how long this process takes. Can you use the money right away, or will you have to wait a few days first? We will share the details on Current check deposits.

Get Paid Early With Faster Direct Deposits
You can get paid up to 2 days early when you sign up for direct deposit with your Current Account.

Typical Mobile Check Deposit Times

Most mobile check deposits go through within two business days, but you can receive funds sooner, depending on the bank and check amount. Most banks provide the first $200 of the check’s value within the next business day. So if you deposit a $500 check today, you can access $200 the following business day. The day after that, you can tap into the remaining $300. 

It’s important to note that banks conduct transactions based on business days. Business days are weekdays that do not correspond with holidays. For example, if you deposit a $500 check on Friday, you can access $200 of the check on Monday and the remaining $300 on Tuesday. Of course, some banks are faster than others, but it’s important to keep the “business day” distinction in mind. For example, cashier’s and government checks typically clear in one business day. 

Is It Possible to Deposit a Check Online?

Technology continues to evolve and create more possibilities. One of those new possibilities is online check deposits. Fintech companies like Current let you take a screenshot of your check. That single screenshot is enough for a check deposit to take place, saving you a trip to the bank. You’ll save time and have more gas left in the tank by avoiding frequent trips to the bank. 

Common Issues Affecting Mobile Deposit Timing

Mobile deposits normally process in 1-2 business days, but some issues can prolong the process. Luckily, it’s easy to avoid most of these roadblocks and fix them if they come up. We have highlighted them below.

Not Endorsing the Check

Banks cannot accept unendorsed checks. You have to sign the back and provide your bank account number. You will also have to specify if you want to deposit the check or receive cash. For an online transaction, you must state that the check is “for deposit only” in the endorsement.

Forgetting to Include Payee Signatures

The recipient of the check must provide a signature on the back of the check as part of the endorsement process. Forgetting to include this signature will stall the deposit. It’s an easy-to-fix mistake you can resolve on the spot with a signature. This can get more difficult if multiple payees get mentioned on the same check. In this case, you would need each payee’s signature for the check to get processed.

Get Paid Early With Faster Direct Deposits
You can get paid up to 2 days early when you sign up for direct deposit with your Current Account.

No Payee Indicated

It is impossible to deposit a check that does not include a payee. Most people include this detail when sending a check, but some people leave the field blank if they do not know the person’s name, who to address the check to, or how to spell the payee’s name. If you receive a check meant for you that has a blank space where the payee’s name belongs, put your name there and endorse the check immediately. Anyone could put their name in that blank section and cash out the check with no repercussions, even if the money was not meant for them. 

Blurry Images

Current and other fintech apps require pictures of both sides of your checks to complete the deposit. If those images come out blurry, it can delay your check deposit, but this issue has a quick fix. You can use a background that contacts with the check’s color. You can lay the check on a dark piece of paper or a desk. Hold the camera still as you take the picture, as moving while taking the shot can increase blurriness. 

Taking the picture in a well-lit room will help avoid shadows appearing on the check and make it more difficult for financial technology to interpret the check’s information. Once you successfully deposit a check, you will know what to do every other time.

Duplicate Deposits

If you deposit your check at a physical bank, the teller will take the check after you make the deposit. However, when you deposit a check online, you still have the paper check. Therefore, if you try to deposit the check a second time, your request will not go through. Instead, you will receive a message about making a duplicate deposit. At that moment, you should review your financial activity to ensure you deposited the check and got paid. If you believe the duplicate deposit message is an error, you should contact your bank.

How Does the Mobile Check Deposit Work in the Current Mobile App?

Current makes it easy to deposit checks online. Current can automatically take pictures of your checks and clear them within a few business days. Current only accepts U.S. bank checks written to you instead of the business or any other entity. The fintech company also does not accept cashier’s checks or money orders.

Bottomline: Traditional vs. Mobile Check Deposits

Mobile check deposits offer a more convenient path to funding your bank account. You don’t have to drive to the bank or limit yourself to the bank’s hours of service. You can take pictures of your check at any time of the day and know you will receive your money within a few days.

Get Your Paycheck Faster with Direct Deposits and Deposit Checks on Your Mobile

It should be as convenient as possible to receive your paycheck. Current helps with this through mobile direct deposits. You can deposit your check on your schedule from home or before leaving work instead of visiting the bank on their schedule. The check will then process, and you will soon see the funds in your checking account.

Current simplifies mobile check deposits, but it also has other advantages over other banks:

  • 4% APY on your savings account: Get paid a respectable return for keeping your money in savings. Current’s 4% APY on their Savings Pods is more than 20 times the national average.
  • Spending insights that help you save money: A Current Spend Account reveals ways to save money based on past spending habits and has built-in features to lower your monthly costs.
  • Crypto investing: Current lets users invest in over 30 cryptocurrencies without any trading fees.

Over 4 million people use Current for their banking. You can create a free account by visiting Current’s website or downloading the mobile app.

Get Paid Early With Faster Direct Deposits
You can get paid up to 2 days early when you sign up for direct deposit with your Current Account.

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