Have you just received an EFS check and are wondering how to deposit it into your Bank of America account? You're in the right place! While EFS checks are common in certain industries, particularly trucking and logistics, depositing them is generally straightforward, similar to depositing any other check. This comprehensive guide will walk you through the process step-by-step, ensuring a smooth and hassle-free experience.
Understanding EFS Checks
Before we dive into the "how-to," let's briefly understand what an EFS check is. EFS (Electronic Funds Source) is a major provider of payment solutions, especially for the transportation industry. EFS checks are essentially money orders or guaranteed checks that allow drivers and companies to access funds quickly for various expenses like fuel, repairs, or lumper fees. They function much like a traditional check but originate from the EFS system, offering a secure and controlled way to manage payments.
Now, let's get down to the business of depositing that check!
Step 1: Prepare Your EFS Check for Deposit – Let's Get Started!
Alright, before you even think about heading to the bank or grabbing your phone, the very first and most crucial step is to prepare your EFS check properly. This ensures your deposit goes through without a hitch.
1.1 Endorse Your Check Properly
This is non-negotiable! Flip your EFS check over to the back. You'll see a section designated for endorsement. Here's what you need to do:
- Sign Your Name: Sign your name exactly as it appears on the "Pay to the Order of" line on the front of the check. If there's a slight variation in your signature, try to make it as close as possible to what Bank of America has on file for you.
- Add "For Mobile Deposit Only" (if using the app): If you plan to use Bank of America's mobile app for deposit, it's highly recommended, and often required, to write "For Mobile Deposit Only" below your signature. This helps prevent fraud and ensures the check is processed correctly for mobile deposit.
- Consider Adding Your Account Number (Optional but helpful): While not always strictly necessary, writing your Bank of America account number below your signature can sometimes expedite the process, especially if there are any issues with your name on the check.
1.2 Check the Details
Before you proceed, take a moment to double-check these vital details on the EFS check:
- Payee Name: Ensure your name (or the name of the account holder) is correctly spelled as the payee.
- Date: Verify the check is dated correctly and not post-dated (dated for a future date) or stale-dated (too old to be valid).
- Amount (Written and Numeric): Make sure the written amount matches the numeric amount. If there's a discrepancy, the written amount is usually the legal amount. If they don't match, you might need to contact the issuer.
- Signature of Drawer: Confirm the check has a signature from the person or entity issuing the EFS check.
Step 2: Choose Your Deposit Method at Bank of America
Bank of America offers several convenient ways to deposit checks, including EFS checks. You can choose the method that best suits your needs and preferences.
2.1 Mobile Check Deposit (Highly Recommended for Convenience!)
This is by far the easiest and fastest method for most people. If you have the Bank of America Mobile Banking app, you can deposit your EFS check from anywhere, anytime.
How to use Mobile Check Deposit:
- Open the Bank of America Mobile Banking App: Make sure you have the latest version of the app installed on your smartphone or tablet.
- Log In: Enter your User ID and Passcode to log in securely.
- Navigate to "Deposit Checks": On the main menu or dashboard, look for an option like "Deposit Checks" or "Mobile Check Deposit."
- Select Account: Choose the Bank of America checking or savings account where you want to deposit the funds.
- Enter Amount: Carefully enter the exact dollar amount of the EFS check. Double-check this to avoid delays.
- Take Pictures of the Check:
- Front: Place your endorsed EFS check on a dark, well-lit, flat surface. Position your device directly over the check, ensuring all four corners are visible within the camera frame. The app will often automatically capture the image when it detects a good shot. If not, tap the camera icon.
- Back: Flip the check over and repeat the process for the back, making sure your endorsement is clearly visible.
- Review and Confirm: The app will display a summary of your deposit, including the account, amount, and images. Review everything carefully for accuracy.
- Submit: Tap "Submit" or "Deposit" to complete the transaction. You'll usually receive an immediate confirmation that your deposit is processing, often followed by an email confirmation.
2.2 ATM Deposit
If you prefer a physical transaction or have a higher deposit limit, using a Bank of America ATM is a great option.
How to deposit at an ATM:
- Locate a Bank of America ATM: Find a conveniently located Bank of America ATM that accepts deposits. Most modern ATMs do.
- Insert Your Debit Card: Insert your Bank of America debit card into the ATM.
- Enter Your PIN: Enter your Personal Identification Number (PIN).
- Select "Deposit": From the main menu, choose the "Deposit" option.
- Choose "Check Deposit": Select that you are depositing a check.
- Insert Your EFS Check: The ATM will prompt you to insert your endorsed EFS check into the designated slot. Do not fold or crease the check.
- Confirm Amount: The ATM will scan the check and display the detected amount. Verify this amount carefully. If it's incorrect, you may have the option to correct it or cancel the transaction and try again.
- Select Account: Choose the Bank of America account where you want the funds deposited.
- Get Receipt: Opt for a printed receipt, which will confirm your deposit and may even include an image of the deposited check.
2.3 Teller Deposit at a Financial Center
For those who prefer face-to-face interaction or have unique deposit needs, visiting a Bank of America financial center (branch) is always an option.
How to deposit with a teller:
- Gather Your Items: Bring your endorsed EFS check, your Bank of America debit card or account number, and a valid form of identification (e.g., driver's license, state ID).
- Visit a Bank of America Financial Center: Find a convenient branch location during business hours.
- Fill Out a Deposit Slip (Optional but helpful): While tellers can often process deposits without one, having a pre-filled deposit slip saves time. Fill in your account number and the amount of the check.
- Present to Teller: Hand your endorsed EFS check, deposit slip (if used), and ID to the teller.
- Confirm Details: The teller will process your deposit and confirm the amount.
- Receive Receipt: You'll receive a printed receipt as proof of your deposit.
Step 3: Funds Availability and What to Expect
Once you've successfully deposited your EFS check, the next question is always: When can I access my money?
3.1 Funds Availability Policy
Bank of America, like all banks, operates under a funds availability policy. For most personal checks, including EFS checks, a portion of the deposit (often the first $225) may be available immediately or on the same business day, while the remaining funds might be subject to a hold.
- Mobile and ATM Deposits: Funds from mobile and ATM deposits are subject to verification. This means while you'll get immediate confirmation of the deposit processing, the actual funds may not be available for immediate withdrawal. Other restrictions may apply.
- Teller Deposits: Teller deposits typically have faster availability, but holds can still be placed depending on the check amount, your account history, and other factors.
3.2 Checking Your Deposit Status
It's always a good idea to monitor your account. You can check the status of your deposit through:
- Bank of America Mobile App: Your account activity will show the pending deposit.
- Online Banking: Log in to your Bank of America online banking portal to view your account transactions.
- ATM: You can check your balance at an ATM.
- Customer Service: Call Bank of America customer service for assistance.
3.3 What to Do After Deposit
- Keep the Check: If you deposited via mobile or ATM, do not discard the physical EFS check immediately. Bank of America recommends securely storing the check for a certain period (e.g., 5-14 days or until the funds are fully cleared and posted to your account) in case there's any issue or they require the original. After that, shred it for security.
- Monitor Your Account: Keep an eye on your account to ensure the funds are fully available as expected. If you notice any issues or delays, contact Bank of America customer service promptly.
Related FAQ Questions
Here are 10 frequently asked questions about depositing EFS checks at Bank of America:
How to endorse an EFS check for mobile deposit?
You should sign your name on the back of the check, exactly as it appears on the "Pay to the Order of" line on the front. Below your signature, write "For Mobile Deposit Only."
How to find my mobile deposit limit at Bank of America?
Your mobile deposit limit can usually be found within the Bank of America Mobile Banking app. After initiating a mobile deposit, there's often a link or information section that displays your daily or weekly deposit limits. You can also contact Bank of America customer service.
How to deposit an EFS check if I don't have a Bank of America account?
If you don't have a Bank of America account, you cannot directly deposit an EFS check into Bank of America. You would need to open an account with them, or find another institution (e.g., a check cashing service or your own bank) that will cash or deposit the EFS check for you.
How to tell if my EFS check funds are available?
You can check your Bank of America account balance through the mobile app, online banking, or at an ATM. Once the funds are fully available, they will be reflected in your available balance. You might also receive an email notification from Bank of America.
How to get a receipt for an EFS check deposit made at an ATM?
When depositing a check at a Bank of America ATM, you will be prompted to choose whether you want a printed receipt. Select "Yes" or the option for a printed receipt to receive confirmation of your deposit.
How to contact Bank of America customer service for deposit issues?
You can find Bank of America's customer service contact information on their official website (bankofamerica.com) under the "Contact Us" section. They usually provide phone numbers for various banking services.
How to resolve a rejected EFS mobile deposit?
If your EFS mobile deposit is rejected, Bank of America will typically send you a notification (via email or within the app) explaining the reason. Common reasons include improper endorsement, blurry images, or exceeding deposit limits. Review the reason, correct any issues, and try depositing again, or consider an alternative method like an ATM or teller deposit.
How to make sure my EFS check image is clear for mobile deposit?
Place your EFS check on a flat, dark, contrasting surface. Ensure there is good lighting and no shadows on the check. Hold your phone steady directly above the check, making sure all four corners are visible within the app's capture frame.
How to track the status of my EFS check deposit?
You can track the status of your deposit by logging into your Bank of America online banking or mobile app. The transaction will appear in your account history, often showing as "pending" until the funds are fully cleared.
How to deposit a large EFS check amount at Bank of America?
For large EFS check amounts, while mobile and ATM deposits have limits, you can generally deposit any amount by visiting a Bank of America financial center and working with a teller. They may place a hold on a portion or all of the funds, depending on their policy and your account history.
