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Mobile deposit FAQ

About the service

What is mobile deposit?

Mobile deposit is a free, secure service available to clients through the Ameriprise Financial app.* With mobile deposit, you can use the camera on your mobile device to take a picture of a check and deposit it remotely into your eligible Ameriprise brokerage account.

*You must be a registered user of the secure site on ameriprise.com to use the Ameriprise app. For more information, go to ameriprise.com/mobile. For compatible devices, operating systems and other details, also see Ameriprise app FAQ.

What types of accounts are eligible for mobile deposit?

Mobile deposit is available for eligible Ameriprise® and Ameriprise Bank, FSB accounts. You can view your eligible accounts by tapping Deposit Checks from the Ameriprise app menu.

What is the cutoff time for making a mobile deposit?

The cutoff time is 3 p.m. Central time. Mobile deposits submitted after 3 p.m. Central time or on weekends/holidays will be processed the next business day.

Are there limits to the amount of money I can deposit via mobile deposit?

Yes. There is a $100,000.00* daily limit per user on the amount you may deposit via mobile deposit. When you select an account for your mobile deposit, your remaining Daily Deposit Limit amount will display below the Account Balance. 

* When a deposit is made to an IRA account, you have the option of choosing which tax year the contribution should apply. This option is only available for eligible IRA plans and depends on the date the contribution was deposited to the account. Please contact your advisor for more information.

When will money I deposit be available for withdrawal?

Ameriprise® Brokerage and Ameriprise® Managed account mobile deposits are subject to a 5-business-day hold period and typically become available for withdrawal on the business day following the hold period (i.e., the 6th business day following the date of deposit).

Ameriprise Bank, FSB mobile deposits are subject to funds availability described in the Deposit Account Agreement. Funds availability depends on the amount of the check, type of check and other factors.

Ameriprise reserves the right to extend the hold period at its sole discretion (e.g., deposit is unusual, is for a new account, etc.).

Note: Requests to move mobile deposit funds internally or trade within an account are permitted during the hold period.

Is mobile deposit safe?

Yes. Because mobile deposit is a service offered through the Ameriprise app, it is covered by safeguards similar to those we use to protect your privacy and security online.

Are check photos stored on my device?

No. To protect your personal and account information, check photos are not stored on your device.

Depositing checks

What types of checks are accepted via mobile deposit?

Only endorsed checks that are made payable to you or American Enterprise Investment Services (AEIS)* may be deposited using mobile deposit. Checks must be issued by a U.S. bank in U.S. dollars. U.S. Treasury checks are accepted.

Checks issued from another retirement account are accepted and may be eligible to be applied as a rollover contribution. Please contact your advisor for more information.

In addition, checks used to fund most new Ameriprise Brokerage Accounts and Ameriprise Managed Accounts can be accepted via mobile deposit.

To initially-fund an Ameriprise Bank, FSB account by mobile deposit, the check amount must be $1,000.00 or more.

*AEIS is the clearing broker dealer for Ameriprise Financial related to Ameriprise brokerage and managed accounts.

Are there any types of checks that are not accepted via mobile deposit?

Yes, checks that cannot be accepted via mobile deposit include those that are:

  • Dated more than 90 days older than the date of submission
  • Travelers checks
  • Money orders
  • Counter checks
  • Starter checks
  • Credit card convenience checks
  • Drawn on a foreign bank or payable in a foreign currency
  • Payable to cash
  • Payable to others even if endorsed to person depositing
  • Returned unpaid for any reason
  • Undated or postdated
  • Demand drafts or remotely created checks that lack the signature of the person authorizing the check (e.g., Check Free)
  • Substitute checks created from an electronic image
  • Irregular in any way (e.g., amount written line is different than the numerical amount)
  • Registered government warrants
  • Suspected to be fraudulent or not properly authorized or modified in amount or payee fields
  • In excess of the aggregate amount of approved deposit limits for mobile deposit
How should I endorse my check?
  • For checks made payable to you, endorse the back of the check as follows:
    • For checks you want to deposit to your Ameriprise Bank, FSB Savings account:  For Deposit only [insert signature] to Ameriprise Bank, FSB account # [insert Account Number].
    • For checks you want to deposit to your brokerage or managed account:  For Deposit only [insert signature] to AEIS* account # [insert Account Number].
  • For checks made payable to American Enterprise Investment Services (AEIS)*, endorse the back of the check as follows:  For Deposit only, AEIS account # [insert Account Number]. 
  • For checks made payable to Ameriprise Bank, FSB, endorse the back of the check as follows:  For Deposit only, Ameriprise Bank, FSB account # [insert Account Number].

*AEIS is the clearing broker dealer for Ameriprise Financial related to Ameriprise brokerage and managed accounts.

 

What should I do with my check after I’ve made a mobile deposit?

You should:

  1. Write a note on the check indicating it was electronically deposited and include the date of deposit.
  2. Retain the check for 10 business days to ensure the deposit is fully processed and the check is no longer needed.
  3. Validate that the deposit has been credited to your account by logging in to the Ameriprise app or the secure site on ameriprise.com and going to the Activity tab for the account.
  4. Shred or safely discard the check.