Best Banks for Fast Mobile Check Deposits & Funds Availability

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Key Takeaways:

• Many popular banks such as Ally Bank, Axos and SoFi® offer instant mobile deposit availability.
• The fastest way to deposit a check is usually via your bank’s mobile app, with funds being available the same day or a couple days later—it depends on the bank.
• Check if there are fast-funding fees or if the bank makes only a small portion of your funds available first and releases the rest later.

Before the days of mobile deposit, it could take up to seven days for a check deposit to clear. But as banking technology has advanced, the time frame for depositing a standard check has gotten much shorter. 

In fact, some banks will now make your funds available as soon as the same business day. That said, there are some important caveats that could impact the time frame in which your funds are available, such as the type of check you’re depositing and the bank's daily cutoff time for deposits. We've rounded up some of the best banks to consider if you're looking for fast mobile deposits as soon as the same day.

Best Banks for Fast Mobile Deposits

Here are some of the best banks with fast mobile check deposit times so you can access your money quickly.

Account	Earliest Deposit Time Frame	Requirements & Limits	Learn More
Axos Rewards Checking Account	Same day	Deposits made before 3 p.m. PT qualify for same-day deposit	This product is currently not available via Slickdeals. All information about this product was collected by Slickdeals and has not been reviewed by the issuer.
Chase Total Checking® Account Open Account	1 business day	Time frame varies depending on type of check deposited	Open Account
SoFi Checking and Savings Open Account Member FDIC Member FDIC	1 business day	Portion of deposit available next business day	Open Account
Ally Spending Account Open Account	1 business day	Up to $300 available next business day. Additional funds may take longer.	Open Account

Methodology

When making our selections for the best banks for fast mobile deposit, we reviewed many brick-and-mortar banks, along with online banks and credit unions. Our criteria for inclusion on this list includes:

• Quick deposit time frame: We looked for banks that make funds available the same day they are deposited—or the next business day.
• Ease of depositing: Our picks offer simple ways to deposit funds, like making a mobile deposit online or through a user-friendly banking app.
• Lack of fees: The accounts on our list either don’t charge extra fees to get express access to at least a portion of deposited funds, or the fees are relatively low.
• Helpful account benefits: We also considered other features these accounts offer, such as early direct deposit, low or no minimum balance requirements, great mobile banking tools and good customer reputation.

Chase

Slickdeals

Tracing its roots back to 1799, JP Morgan Chase is one of the largest banks in the United States, and it offers a range of products for customers, including multiple checking accounts. Its Chase Total Checking® account is a popular option offering perks like the option to waive monthly fees, access to a large fee-free ATM network, and relatively quick mobile deposit turnarounds via Chase QuickDeposit℠.

• Mobile deposit availability: Chase checking account customers using the bank’s mobile app for paper check deposits can usually access funds within one business day, though the time frame could be shorter or longer depending on the type of check deposited. 
• Fees: No fees for Chase QuickDeposit℠

Chase Total Checking® Account

Open Account

at Chase

• Our Rating 4/5 How our ratings work
• APYN/A
• Minimum
  Deposit RequiredN/A
• Intro Bonus $300Expires October 16, 2024 More Info

  New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities

Chase Total Checking® is among the best entry-level accounts. It typically offers new customers a sign-up bonus, and it’s fairly simple to waive the $12 monthly fee. However, it's worth noting that it doesn’t offer many valuable features or benefits and it’s not an interest-bearing checking account.

• Overview
• Pros & Cons

Overview

Chase Total Checking® is a basic checking account that doesn’t offer many premium features. However, if you can easily meet the qualifications required for the new account bonus (and to waive its monthly fee), it’s a good option for those who want an entry-level account.

Pros

• No minimum opening balance
• Multiple ways to waive monthly fee
• Access to nationwide Chase branches and ATM network

Cons

• Monthly maintenance fee
• Account does not earn interest

SoFi

SoFi

SoFi® is an online bank offering a full suite of products, including loans, investment accounts, insurance products and deposit accounts. Among them is the SoFi checking account, which earns interest and comes with other perks like early direct deposit⁶, no fees³ and no minimum balance requirements. In addition to these perks, checking customers can access fast and convenient mobile deposits via the SoFi app.

• Mobile deposit availability: A portion of your funds (up to $5,000 deposited) is generally available the next business day.
• Fees: No fees apply

SoFi Checking and Savings

Open Account

Member FDIC

• Our Rating 5/5 How our ratings work
• APY0.50% - 4.60% More Info

  SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

• Minimum
  Deposit RequiredN/A
• Intro Bonus $50-$300Expires December 31, 2024 More Info

  See full terms and disclosures at sofi.com/banking. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. SoFi members with Direct Deposit can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.60% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

SoFi Checking and Savings boasts an impressive APY of up to 4.60% on savings balances for customers who set up direct deposit, or who deposit at least $5,000 each month. This account also offers 0.50% APY on checking balances. There are no monthly maintenance fees, and new customers can even earn a generous signup bonus worth up to $300. If you don’t care about physical bank locations, this is a great option.

• Overview
• Pros & Cons

Overview

SoFi Checking and Savings features remarkably strong interest rates for customers who receive recurring monthly direct deposit, or who deposit $5,000+ every 30 days. This account also doesn’t have any maintenance fees, overdraft fees or non-sufficient funds fees. To top it off, new customers can earn a signup bonus worth up to $300.

Pros

• Accounts with monthly direct deposit earn interest
• No minimum opening balance or minimum monthly balance
• No maintenance fees, non-sufficient fund fees or overdraft fees
• Access to Allpoint’s worldwide ATM network
• Get paid up to two days early

Cons

• No physical branch locations

Axos

iStock

Axos is an online bank that was established in 2000. It first offered a basic checking account, but today, it has several deposit accounts, loans, and investment options for consumers and businesses. Those seeking a new checking account can choose from five different options. 

Axos checking customers benefit from no monthly maintenance fees or minimum balance requirements, and you can earn interest with certain Axos checking accounts.

• Mobile deposit availability: Axos mobile banking customers can access their deposited funds as soon as the same day through the bank’s MyDeposit feature if made before 3 p.m. PST. 
• Fees: No fees to access and use MyDeposit

Recommended Axos Accounts

Bank Account	Bonus Offer	APY	Learn More
Axos Rewards Checking Account	Up to $500Expires July 31, 2024 More Info Cash in on up to a $500 bonus† and up to 3.30% APY* with a new Rewards Checking account. Just use promo code RC500 before July 31.	Up to 3.30% More Info Earn up to 3.30% APY for completing qualifying activities.	This product is currently not available via Slickdeals. All information about this product was collected by Slickdeals and has not been reviewed by the issuer.
Axos Essential Checking Account	N/A	N/A	This product is currently not available via Slickdeals. All information about this product was collected by Slickdeals and has not been reviewed by the issuer.
Axos First Checking Account	N/A	0.10%	This product is currently not available via Slickdeals. All information about this product was collected by Slickdeals and has not been reviewed by the issuer.

Ally

Ally

While Ally is a relatively new bank established in 2010, this bank’s earliest predecessor was established in 1919. Today, Ally offers a full range of financial products, including loans, investment accounts, credit cards and deposit accounts. 

As an Ally checking account holder, you’ll pay no monthly maintenance or overdraft fees, and you’ll receive monthly ATM fee reimbursements and early direct deposit access. You can also deposit checks via the Ally mobile app, and funds are available relatively quickly.

• Mobile deposit availability: Deposits up to $300 are available next business day. Additional funds take longer to process. 
• Fees: No fees for mobile deposits

How Do Banks Verify Mobile Deposits?

Banks and credit unions look at several data points to help verify mobile check deposits. They’ll generally consider your account history, and whether your account is in good standing. If you’ve overdrawn your account frequently in the past, your check deposits may take longer to clear. If the check is for a significant sum, it may also take longer for the funds to appear in your account.

Your bank’s fraud team will also look at the check itself to verify its validity. They’ll consider who issued it, account numbers, whether all the necessary information is included on the check, and if it’s properly endorsed. If a check is suspect or missing information, it may not clear, or you might need to wait several days for it to be processed.

The Bottom Line

Gone are the days of waiting a week for check deposits to clear. As banking technology has improved, so too have deposit time frames. It commonly takes one business day to access funds from a newly deposited check, which is much faster than in the past. Some banks may even provide access to deposited funds within minutes, depending on how you make your deposit and the type of check. 

That said, deposit time frames vary by bank, so if you’re wondering how fast your funds will be available, it’s best to contact your bank directly or review your deposit account agreement. This will offer some insight into what you can expect.

Related Article

Best Checking Accounts That Waive or Reimburse Overdraft Fees

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Frequently Asked Questions

• What is the fastest way to deposit a check?

  Funds are often available more quickly if you use your bank’s mobile app or visit a branch, though this varies by bank. Also, certain types of checks may clear more quickly than others. For instance, government checks, those issued by the same banking institution, cashier’s checks and certified checks may clear sooner than other check types. Typically, international checks take longer to clear.

• Is it faster to deposit a check at an ATM or through the bank's mobile app?

  Whether your funds will be available sooner via ATM or mobile deposit depends on your banking institution. Many banks and credit unions will make funds available the same or the next business day, though time frames can vary depending on how you deposit your check, what time the deposit is made, and the check type.

• Can I mobile deposit someone else's check?

  Certain banks may allow you to deposit someone else’s check into your account, but requirements vary. Typically, the person issuing the check must write "pay to the order of (your name)" in the endorsement box on the back of the check to approve the deposit.

SoFi Disclosures

1. Up to $300 Bonus Tiered Disclosure

New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Direct Deposit can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.60% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

2. APY disclosures

SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

3. Fee Policy

Our account fee policy is subject to change at any time.

4. Additional FDIC Insurance (must be bolded)

SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms See list of participating banks at SoFi.com/banking/fdic/receivingbanks

5. ATM Access

We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

6. Early Access to Direct Deposit Funds

Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

7. Overdraft Coverage

Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.