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Smart Deposit FAQ

  • Are there any limits for the amount that can be deposited?

    Yes, there are default limits for SmartDeposit:

    Consumer Members
    Daily: Two checks per day with a total dollar amount of $2,000
    Monthly: Twenty checks per month with a total dollar amount of $20,000

    Business Members
    Daily: Five checks per day with a total dollar amount of $10,000
    Monthly: Twenty checks per month with a total dollar amount of $20,000

    Members may request higher (or lower) limits but must be a member in good standing 1

    Their account will be reviewed, and other restrictions may apply. 

  • What kind of checks will HFCU accept through SmartDeposit?

    SmartDeposit will accept the following types of checks:
    • A personal check (Share Draft)
    • Payroll check
    • Money Order
    • Traveler’s Check
    • Certified Check

  • Are there any checks HFCU will NOT accept through SmartDeposit?

    Yes, there are several types of checks that SmartDeposit will not accept:
    • A third-party check, i.e., any item that is made payable to another party and then endorsed to you by such party
    • An item drawn on your personal account at HFCU Credit Union
    • An item that contains evidence of alteration to the information on the check
    • Any check previously converted to a "substitute check" as defined in Regulation CC
    • An item issued to you by a financial institution in a foreign country
    • Cashier's Check
    • Remotely Created Check
    • An item that is stale, dated/expired, or postdated
    • Any item that is "non-negotiable"
    • Items that have been re-deposited or returned, such as NSF, or refer to maker, or returned for any other reason
    • Any incomplete item
    • Cash
    • Saving Bonds

  • How do I endorse my check for Smart Deposit?

    Endorsements that MUST be on the back of a check deposited through Smart Deposit:
    • Your Signature
    • "For Deposit Only"
    • Your Account Number
    • "Heritage Family Credit Union"

  • How long should I hold onto my deposited checks for?

    Members should hold onto checks deposited via SmartDeposit for six months.

Disclosures

1 A member in good standing is one with no delinquencies on loans or negative balances on primary accounts.