REGULATION MANDATES NEW CHECK ENDORSEMENT FOR MOBILE DEPOSITS
If you deposit checks from your smartphone using a Mobile Banking app, the Federal Reserve Board now requires all mobile deposit endorsements to include the statement “FOR MOBILE DEPOSIT ONLY” below your signature.
Endorsements on mobile deposits that DO NOT include the above statement on the back of the check will be rejected as of September 30, 2018.
A preprinted statement or check box on the back of the check does NOT meet new federal requirements.
If you have additional questions, please contact us.