[Matthew]

Just went to make my first big deposit in my Capital One account and there is a $5,000 deposit limit.

No banks around me. I called and told me that my only option was to mail it. What the heck?

Makes me think twice about how hard it may be to get this amount of money out if I ever needed to.

Any thoughts on this?

[Rosemary]

Neither of my two banks (TD and BofA) accept mobile deposit over $5000. I think it’s pretty standard.
Can you link the sending account to Cap One and do an electronic transfer.

That is how I move large sums from my everyday accounts to my HYSA.

I used to have a cap one account and could do it that way.

It may take a few days to link the accounts.

[Matthew]

Banks are facing increasing fraudulent activity specifically using vulnerabilities in mobile deposits, debit cards, collection policies, etc.

I’m confident this is the reason you’re having an issue depositing a “large” check.

Recent higher profile schemes like chase bank and fidelity’s issues are examples you can look up.

For example, fidelity recently changed mobile deposit limits down from 100k to 1k in most cases even with existing accounts, let alone new accounts where this fraud is more likely.

[Julie]

Most places have a mobile check deposit limit. That’s why it’s helpful to have a brick and mortar bank/credit union account, even if you don’t keep much in it.

[Nicole]

I can temporarily increase my mobile deposit limits at all my banks either on the app or by calling.

[Lauren]

Is this a check from someone else or one you wrote? If the latter, it’s probably best to set it up for an ACH or Zelle transfer.

(They do have Zelle limits, but that just means you have to break it down into smaller chunks.) Or rewrite a smaller check and then do another one later.

[Matt]

Call and see if they can allow a larger deposit on a one time or one day basis. Similar to asking for ATM limit increases.

They might have options.

[Jennifer]

Will they do a one time mobile deposit limit lift? I’ve done that oodles of times with business and personal accounts.

We use elements financial HY checking – I think the rate is (was) 5% for newbies.

And it’s a checking which is fabulous.

Mobile deposit limit of $15,000. Which they’ll wave with a temporary limit increase if I call in.

[Kelly]

That can’t be right. I make all kinds of deposits bigger than that electronically.

[Jasmine]

If you have an account at any physical banks, you could deposit the check in person there, and then electronically transfer the funds to CapOne.

CapOne has a much higher limit for transfers.

Can’t remember what it is, but I’m sure it’s at least in the tens of thousands.

[Megan]

Schwab and Fidelity both allow very large deposits online. Do you have a taxable brokerage with either.

[Ashley]

I deposit into my local bank and do a transfer to CapOne. It actually works faster than mobile deposit for me. The last time I did a mobile deposit, it took over a week to clear.

I transfer to my CapOne checking and it’s available within a few days.

Then I just transfer to my 360 savings.

Sounds like a PITA, but it works fine for me.

[Krista]

Capital one is one of those “adjust to the user needs”. My mobile deposit limit is much higher than $5,000 and is always available the next day as I’ve been a customer for a number of years and have been depositing larger checks for those years so the account has evolved with me.

New accounts are not going to have the same access for liability reasons.

It’s also why you should always just keep a local brick and mortar bank branch to use

[Julie]

Mobile deposit limits are common. Just put it in your regular checking account and then make a transfer.

I have Capital One and love them! All my deposits are made via transfer like I just explained.

[Mark]

Are you trying to do a mobile deposit or ATM deposit? Cash or check? I have CapitalOne as well.

I had online banks and it just didn’t work for me so that’s why I made sure to pick one that had at least one brick and mortar location.

Been happy and I’ve gone in more often that I thought to use other services like notary, etc.

[Author]

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