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What is Business Mobile Deposit?

Business Mobile Deposit is a feature of the Cambridge Savings Bank Business Mobile Banking app that enables you to electronically deposit checks using an Apple device (iPhone® or iPad®) or an AndroidTM supported Smartphone with a functioning camera.

What are the benefits of using Business Mobile Deposit?

This service gives you the flexibility and convenience to make deposits on-the-go and without ever having to leave your office, saving you time and a trip to the branch. Checks can be deposited with the snap of a picture using your Apple device (iPhone® or iPad®) or an AndroidTM supported Smartphone using the Cambridge Savings Bank Business Mobile Banking app.

With what devices is Business Mobile Deposit available?

Business Mobile Deposit is currently compatible with Apple iPhone® and iPad® (iOS 7 or higher) and with AndroidTM devices (4.0 or higher).

Who is eligible to use Business Mobile Deposit?

To be eligible to use Business Mobile Deposit, you must be a current Cambridge Savings Bank business customer with a business checking, savings, or money market account. You must also be enrolled in our Business Online Banking service and have our Business Mobile Banking app with appropriate permissions.

What type of accounts can receive Business Mobile Deposits?

Cambridge Savings Bank business checking, savings or money market accounts with Business Online Banking and the Business Mobile Banking app, with authorized access and appropriate permissions, can receive Business Mobile Deposits.

How do I get access to Business Mobile Deposit on my CSB Business Mobile Banking app?

Company Administrators will have automatic access to Business Mobile Deposit using the CSB Business Mobile Banking app. The Company Administrator will need to permit Users’ access before they are able to deposit checks using the Business Mobile Deposit service.

For step-by-step instructions on granting Business Mobile Deposit access to Users, Company Administrators should refer to our How to Grant Business Mobile Deposit Access to Users resource guide.

Is there a fee to use the Business Mobile Deposit Service?

No, there is no fee to use our Business Mobile Deposit service. If your account is subject to per item charges, standard fees apply.

What types of checks are eligible for Business Mobile Deposit?

To be eligible for Business Mobile Deposit, a check must:

  • be made payable to only your company
  • have an authorized signature
  • be drawn on a financial institution located within the United States
  • be payable in United States currency only

 A check must not:

  • have been altered on the front of the check in any way
  • be postdated or dated more than six (6) months prior to the date of deposit
  • have previously been returned as “Stop Payment” or “Account Closed”
  • have previously been negotiated or submitted through a mobile deposit service offered at CSB or any other financial institution.
  • be a Money Order, Postal Money Order, Travelers Check, Treasury Check or Cashiers Check

 For additional information about the types of checks that are eligible for CSB Business Mobile Deposit, please refer to the “Appendix of Mobile Check Deposit Service” sections of our Business Online Banking Agreement.

When using Business Mobile Deposit, are check images stored on my phone?

No. For security purposes, check images will not be stored on your mobile device.

How many checks per day/month can I deposit using Business Mobile Deposit?

There is no limit to the number of checks that you can deposit each day/month using Business Mobile Deposit. There is, however, a $10,000 daily limit (business day, as defined in the Funds Availability Policy for Business Mobile Deposit) and $30,000 monthly (calendar) limit for checks deposited using Business Mobile Deposit.

Is there a dollar limit on checks deposited using Business Mobile Deposit?

Yes. There is a $10,000 daily limit (business day, as defined in the Funds Availability Policy for Business Mobile Deposit) and $30,000 monthly (calendar) limit for checks deposited using Business Mobile Deposit.

To discuss limits, please call your account officer or email our Cash Management Department at cashmanagement@cambridgesavings.com.

Can I request a limit increase for depositing checks using Business Mobile Deposit?

To request a higher limit, call our Customer Contact Center at 888.418.5626 or email Cash Management Department at cashmanagement@cambridgesavings.com, or visit a branch.

Does Business Mobile Deposit verify funds at the point of deposit?

No, CSB Business Mobile Deposit does not provide the ability to verify funds at the time of deposit.

Please refer to our Funds Availability Policy for Business Mobile Banking for additional information about determining the availability of your deposit made using Business Mobile Deposit.

When will I have access to the funds deposited using Business Mobile Deposit?

Check deposits made through CSB Business Mobile Deposit received and confirmed before 6:00pm Eastern cut-off time Monday through Friday (excluding holidays) will be credited to your account the same day with the first $200 from a deposit of checks available that same day. Deposits made through CSB Business Mobile Deposit which are initiated after 6:00pm Eastern cut-off time and any such deposits initiated on Saturdays, Sundays, federal holidays or days that are not our business days, will be received, processed and credited to your account on the following business day that we are open.

Please review our Funds Availability Policy to learn more about the availability of funds deposited through Business Mobile Deposit.

Will I be able to see my mobile deposits in Business Online Banking?

Yes, deposits made using Business Mobile Deposit will appear in Business Online Banking with “Business Mobile Deposit” in the Transaction Description field. Currently, there are no images for any deposited items.

Should I endorse the check before depositing?

Yes, the check must be endorsed in order for the deposit to be accepted. When endorsing your check, please sign or stamp the back of the check on the top line and write “For Mobile Deposit Only” on the second line. Your check will not be accepted without “For Mobile Deposit Only” on the reverse of your check.

How do I make a deposit using Business Mobile Deposit?

To make a deposit using Business Mobile Deposit, sign in to the Cambridge Savings Bank Business Mobile Banking app and follow these simple steps:

  1. Click the menu icon and choose Deposits from the list of options
  2. Click Make A Deposit
  3. From the Create Deposit screen, select the account into which you want to deposit the check. Note: only accounts to which you have been granted permission to access will appear in the list of options.
  4. Enter the amount of your check
  5. Endorse the back of your check and add the words “For Mobile Deposit Only” to your endorsement.
  6. Select Check Front take photo, align your check to fit within the camera view, and snap a picture. Review the picture to ensure that the image is clear and the text legible; click Save.
  7. Select Check Back take photo, align your check to fit within the camera view, and snap a picture. Review the picture to ensure that the image is clear and the text legible; click Save.
  8. Clicking the Submit button
  9. Review the details of your deposit and click Confirm to submit your deposit.
  10. You will receive onscreen confirmation that your check has been submitted for review. The details of your deposit will now appear on the Deposits screen. After we process your deposit, you will see the transaction in your account activity.

What should I do with my paper check after depositing using Business Mobile Deposit?

After you send a check image using Business Mobile Deposit, and you have verified that the deposit has been credited to your account, you should mark, stamp, or write “Electronically Presented” on the check and securely store the paper check for 91 calendar days after the date of deposit. After the 91 day retention period, please securely shred the checks.

How will I know if there is a problem with the picture of the check to deposit?

If there is an issue with the front or back of the check, you will receive an onscreen message notifying you that there is an issue with the check. Make sure the check is properly aligned within the guides and retake the image.

For the best results, lay your check on a flat, dark surface with adequate lighting. Hold the camera steady and make sure all four corners of the check are captured within camera view.

How will I know the status of my mobile deposit?

Once your mobile deposit is submitted, your transaction details will appear on the Deposit screen. Once your deposit is processed, it will show in your account transaction history in Business Online Banking and on the Business Mobile Banking app with “Business Mobile Deposit” as the transaction description.

Why is my check image being rejected?

Your check may be rejected for any of the following reasons:

  • The check image is not clearly readable
  • The check could have an improper endorsement
  • There could be a discrepancy with the amount entered and the amount for which the check is written
  • The item has already been deposited

These are the most common reasons for rejection. If you’ve corrected these issues and your check is still being rejected, please call our Customer Contact Center at 888.418.5626 or email our Cash Management Department at cashmanagement@cambridgesavings.com for assistance.

How do I view images of checks deposited using Business Mobile Deposit?

Images of items deposited are not currently available. For security purposes, check images are not stored on your mobile device. Please contact our Customer Contact Center at 888.418.5626 or email our Cash Management Department at cashmanagement@cambridgersavings.com if you need an image of a particular deposited item.

How will I know if there is a problem with my mobile deposit?

If there is a problem with the check you are trying to deposit, you will receive an onscreen message notifying you of the issue. If there is an issue with your check after it has been submitted, we will contact you directly.

If you have any questions about your mobile deposit, you can call our Customer Contact Center at 888.418.5626 or email the Cash Management Department at cashmanagement@cambridgesavings.com.

Where can I view the Business Mobile Deposit Service Agreement?

Please refer to the “Schedule of Mobile Services” and “Appendix of Mobile Check Deposit Service” sections of our Business Online Banking Agreement for additional information about our Business Mobile Deposit service.

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