What is myDeposit?

myDeposit is an online banking service that allows eligible members to deposit checks online up to an accumulative total of $1,500 or $500 depending on the member's 30 day average balance, which is then instantly deposited into your checking or savings account. Once you make the deposit you will then need to endorse the check(s) and mail the item(s) to AmeriCU Credit Union within 10 calendar days, beginning from the day you make your myDeposit. Once the deposit arrives in the mail, we confirm that the deposit is correct and the transaction is complete.

Am I eligible? 

As a member of AmeriCU you have the opportunity to use a new and exciting, easy service! In order to use myDeposit you have to meet a few simple qualifications:

• Prime Member on account is over the age of 18
• Must be a Personal Account
  • Business Accounts are not eligible
  • Organizational Accounts are not eligible
  • Rep Payee, Trust, Estate or UTMA Accounts are not eligible
• Account established for at least 30 days
• Account must have member's current address
• Member cannot be Pending Member Expulsion
• Your Account and Loans cannot have the following conditions:
  • No Charge-offs or Bankruptcies
  • No Repositions or Foreclosures
• Must have a checking account
• Accounts with a combined 30 day average deposit balance of at least $500 (combined balance of all shares on the account from $500 to $1499) can deposit up to $500 in checks. Any member with a $1500 30 day average deposit balance will be able to deposit up to $1500.

How does myDeposit work?

Select the myDeposit button within Home Banking, and post your deposit. Your Deposit Session # is IMPORTANT!

• Record your Deposit Session # on the front of your pre-addressed envelope. Be careful to record the correct Deposit Session # on the envelope.
• Put all items from this deposit session in a myDeposit pre-addressed envelope. You do not need to include a deposit slip.
• Drop the envelope in the mail.
• View your deposit details within Home Banking

What is the myDeposit limit and why?

$1,500 & $500 were selected as the default limit based on the deposit habits of our members.

How many deposits can I post at a time?

You can deposit multiple checks up to your available limit. Example: If $1,500 is your available limit, you can deposit 3 checks for $500 each. Or, you could deposit 5 checks for $300. But you cannot deposit 5 checks for $350 each, as the total amount of those checks would exceed your limit (the minimum amount for a check is $1.00).

What does myDeposit cost?

There is no cost to use myDeposit; however, online deposits not received by AmeriCU Credit Union within ten (10) calendar days may be reversed on your account. This may result in a negative balance, which may cause fees to be assessed.

What are unacceptable deposits? 

Deposits of the nature described below will result in the immediate reversal of the deposit from your account and may result in the suspension of this service.

• Your own AmeriCU check drawn on this same account
  Deposits of this nature will result in the immediate revocation of this service and may subject you to collection efforts.
• Foreign Checks & Money Orders
  A check or money order that is issued by a financial institution in another country (Canada, France, etc.).
• Incomplete Items
  An incomplete item is any item that does not contain signatures of the maker, endorsement signatures, or is missing any of the information required during key-entry in a Deposit Session.
• Stale Dated Checks
  Types of checks considered stale dated include (but not limited to): checks dated more than 5 months prior to the deposit date, instructions such as: "Void 90 days after issue date".
• Post Dated Checks
  Checks dated after the deposit date.
• Remote Checks
  Checks that are typically created when a member with a checking account authorizes a payee to draw a check from his or her account without physically signing the check. The payee creates the check and will stamp on the signature line verbiage that indicates that the account owner authorized this payment (i.e., "Authorized by your Depositor") or the payee will type the account owner's name on the signature line. Remotely created checks generally are used when a consumer wants to pay a bill (i.e., a telephone or utility bill) or place an order and pay for it by check over the telephone.
• Third Party Checks
  When a member is requesting to cash any check for a non-member.
• Non-Negotiable Items
  The deposit of any item stamped with a "non-negotiable" watermark is PROHIBITED. Deposits of this nature will result in the immediate revocation of this service and may subject you to collection efforts.
• Altered Checks
  An altered check is any check that contains evidence of a change (correction fluid, crossed out amounts, etc.) to information on the face of the check. Members with altered checks MUST get a replacement check from the maker before AmeriCU will accept the deposit.

What can be deposited through myDeposit?

In addition to personal and corporate checks, the following items are acceptable for deposit through myDeposit: Money Orders, Travelers Checks and Rebate Checks.

As a general rule, the payee(s) should endorse all checks on the back only. Failure to deposit these items correctly may result in the deposit being reversed from your account. Money Orders must be made payable to you (not AmeriCU or Cash) and all required signatures need to be completed on the front and back of the money order. Travelers Checks need to be made payable to you (not AmeriCU or Cash) and signed properly. Rebate Checks must be endorsed.

You may substitute the serial number if the rebate check does not have a check number and you may substitute the current date if a date is not printed on the rebate check. Make sure AmeriCU receives the rebate check before the expiration date.

What is a session number?

A session number is a number automatically assigned for each online deposit session. In exchange for the availability of funds using myDeposit, you must agree to record the assigned online deposit session number on your mailing envelope.

How should I endorse my checks?

AmeriCU recommends you to endorse (sign on the back) each check before you deposit the check. Endorsements may be handwritten in ink, rubber-stamped, printed or typed and must be made in the proper 1 1/2-inch space provided on the back of the check. As a general rule, deposit items must be endorsed by whoever is listed as a payee on the "Pay to the order" line on the check. We also recommend you include "For Deposit Only" following your endorsement signature as this is considered a restrictive endorsement and protects you in the event your check falls into the wrong hands.

More specifically, for a check made payable to one Payee, sign the check exactly as your name is spelled. For checks made payable to two Payees, both parties have to endorse the check if there is an "and" (i.e. Jack and Jill Smith). If there is an "or" then only one signature is required (either Jack's or Jill's).Travelers checks must be signed and countersigned on the signature line before deposit. Money Orders must be signed on the "Purchasers Signature" line.

Special endorsement rules apply to insurance checks and bill consolidation checks. Typically, these checks are made payable to one person and a business and MUST be endorsed by all payees listed on the front of the check. For example: A Bill Consolidation check is made payable to "Jack Smith and Smith Co.", Jake must sign the check AND obtain a business endorsement from the Smith Co. before depositing the check.

What do I need to send you? 

Make sure to send all of the endorsed checks. You do not need to include a deposit slip. Please mark your envelope with the Session Number and the address below:

Session # _______________

AmeriCU Credit Union

PO Box 4806

Rome, NY 13442-4806

How do I know you received my online deposit?

Once your deposit is received and reconciled, your Available Limit will be reset by that amount.

Where do I mail my online deposit?

The myDeposit mailing address is given to you on the screen with your Session Number. If you are mailing the deposit in a plain, white envelope, address your envelope to:

Session #____________
AmeriCU Credit Union

PO Box 4806

Rome, NY 13442-4806

Can I order pre-addressed envelopes?

Yes. You may order envelopes by clicking the "Order Envelopes" button inside of myDeposit at no cost to you.

How can I order additional deposit envelopes?

Click on the "Order Envelopes" button on the first myDeposit screen. Three pre-addressed envelopes will arrive at your address of record within five business days.

How long do I have to mail in my checks?

The items that make up the total deposit in each online deposit session must be received by AmeriCU Credit Union within a ten (10) calendar day period. This period begins the day after the date of each online deposit session. If the online deposit items are not received by AmeriCU Credit Union within the ten (10) calendar day period, the deposit total may be reversed on your account.

Can I bring an online deposit to a branch?

No. myDeposit online deposit items are accepted only through US regular mail.

When are online deposits credited to my account?

AmeriCU Credit Union will credit your account for deposit(s) of one or more checks, up to the maximum accumulative total of $1,500 or $500 (depending on the 30 day average balance) immediately.

What are the differences in available online deposit balance and current online deposit balance?

Your available online deposit balance is the amount AmeriCU Credit Union will credit your account up to the maximum accumulative total of $1,500 or $500 (depending on the 30 day average balance). Your current online deposit balance reflects any online deposits made that AmeriCU Credit Union has not yet received.

How do I know if there was a problem with my deposit?

If there is an issue, this may result in a reversal of an online deposit on your account. We will also send you a letter stating the problem.

How secure is myDeposit?

AmeriCU uses the latest technology to keep your account information secure. Security features exist at every level - from your PC, to the Internet, and over our secure network. The following features are offered for full security: \

• Password protection
• Enhanced Login Security
• Lock-out: access is denied after the third consecutive invalid login
• Automatic Timeout: your myDeposit session ends automatically after a designated period of time
• Cache security: ensures that no one can view a Member's account information by accessing the cache file
• Encrypted URL: ensures that any account information that appears in the URL is not readable

SSL (Secure Socket Layer) protocol: allows for the transfer of digitally signed certificates for authentication procedures, and provides message integrity, ensuring that the data can't be altered during a transaction. In SSL protocol, Web addresses usually start with "https" instead of "http".

Why would there be a problem with my deposit?

The following will likely cause a delay or problem with your deposit:

• Unendorsed Checks
• Checks that return as Non-Sufficient Funds (NSF)
• Unacceptable Deposits (please see above for complete list)
• Deposits that do not arrive within 10 calendar days
• Checks that do not match the deposit you made (funds will be adjusted in your account)

Will an ATM or Kiosk accept my deposit?

No. myDeposit online deposit items are accepted only through US regular mail.

What happens if my mailed check(s) get lost?

AmeriCU Credit Union will not be liable for negative balances on accounts caused by the non-payment of checks due to insufficient funds, delays in the mail, checks not received or for any action by the member or authorized user of the account that results in the reversal of an online deposit on the account.

Can I access myDeposit from another computer?

Yes. myDeposit can be accessed from any computer with an internet connection. All that is required is for you to log into Home Banking as usual.

How do I safely log out?

The safest way to log out is to click the 'Exit myDeposit' button when you have completed your online deposit session. Then click "Exit" out of myDeposit; and finally close your browser.

Can I download myDeposit information into other financial software on my computer?

No. It is not currently possible to download myDeposit information into other financial software on your computer.

What if I have questions?

If you have any questions about myDeposit, please contact us at 1-800-388-2000 or visit one of our convenient locations.

 

This credit union is federally insured by the National Credit Union Administration.