What to Do with a Check After Mobile Deposit
Mobile banking has revolutionized the way we manage our finances, making it easier than ever to deposit checks from the comfort of our homes or offices. However, once the mobile deposit process is complete, many people are left wondering what to do with the physical check. In this article, we will discuss the best practices for handling a check after a successful mobile deposit.
Keep the Check for Record-Keeping Purposes
The first thing you should do with a check after mobile deposit is to keep it for your records. Although the digital copy of the check is now stored in your bank account, it’s always a good idea to have the physical check on hand. This ensures that you have a backup in case there are any discrepancies or issues with the digital deposit. Additionally, keeping the check can be helpful for tax purposes or in case you need to provide proof of payment.
Shred the Check to Prevent Fraud
Once you have made a copy of the check for your records, it’s important to destroy the original to prevent identity theft and fraud. Shredding the check ensures that no one can misuse it to cash or deposit it elsewhere. Be sure to use a cross-cut shredder to make it more difficult for someone to piece the check back together.
Update Your Bank Records
After making a mobile deposit, it’s crucial to update your bank records to reflect the new balance. This helps you keep track of your finances and ensures that your account information is accurate. Take a moment to review your bank statement and confirm that the deposit has been processed correctly. If there are any discrepancies, contact your bank immediately to resolve the issue.
Consider the Check’s Status
It’s essential to understand that the check you deposited via mobile banking is still considered “cleared” even though it has been scanned and processed. This means that the check can still be cashed or deposited by the original payee. To avoid any potential issues, you may want to mark the check as “void” or “non-negotiable” to indicate that it has already been deposited. This can be done by writing “VOID” across the front of the check in large, legible letters.
Store the Check in a Secure Location
Until you have shredded the check, it’s important to store it in a secure location. This could be a locked drawer, a safe, or a secure box. Keeping the check out of sight and out of reach helps prevent it from falling into the wrong hands.
Dispose of the Check Properly
Once you have confirmed that the deposit has been processed and updated your records, it’s time to dispose of the check. Be sure to use a cross-cut shredder to destroy the check before throwing it away. This ensures that the information on the check cannot be easily accessed by someone else.
In conclusion, after making a mobile deposit, it’s important to keep the check for record-keeping purposes, shred it to prevent fraud, and update your bank records. By following these best practices, you can ensure that your finances remain secure and well-managed.
