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Check out some tips and tricks for using our mobile app!

You may be wondering why it is so important to now include the phrase “For Mobile Deposit Only at Charter Bank.” This is a small, but crucial change that was instituted by the Federal Reserve on July 1, 2018. It applies to all mobile deposits at all financial institutions. Without the inclusion of this new phrase, banks and credit unions can return the check with the notification that your “deposit was rejected due to restrictive endorsement.”

 

Although some checks may have a pre-printed box to indicate mobile deposit, checking this box does not complete the endorsement requirement. “For Mobile Deposit Only at Charter Bank” must be written legibly on the first two lines, then followed by your signature.

 

To help you remember to include this endorsement, our mobile app will display a reminder message to include this phrase.

 

This change is meant to protect banks from fraud, which can occur when a check is accidentally, or intentionally, presented at a bank after it was already deposited through a mobile app.

 

Another reason to include that endorsement, is that if that check is lost or stolen after you endorse it, your endorsement makes it hard, if not impossible, for someone to steal that money.

We get many customers asking us if you have to log out of the app to make sure all your information stays secure. The answer – No.

When you are done using the Charter Bank mobile app, you do not need to log out. Anytime you leave the app, or your phone’s display times-out, you will need to put in the 4-digit PIN you used for the app (or fingerprint or facial recognition) to gain access again. This acts as another password rather than typing in the whole password. This allows your information to stay safe in case someone else gets a hold of your phone.

If you do log out of the app, you’ll need your username, password to log in and then will create a 4-digit PIN to use with the app, and then you’ll have to accept the disclosures again. You’ll also receive a confirmation code via text (a token) that you’ll need to put in once you receive the one-time-use secure number.