Federal law mandates that all Federal benefit payments – including Social Security and Supplemental Security Income benefits – must be made electronically.
There are two ways you can receive your benefits:
- Into an existing bank account via Direct Deposit or
- Onto a Direct Express® Debit Mastercard®
Direct Deposit is the best electronic payment option for you because it is:
I guess I am surprised by the question, it seems so basic. It means to deposit into your bank a paper check, or cheque (American spell it check, British people spell it cheque, also in French it´s called. Cheques are valid for 6 months from date of issuance, unless otherwise stated on cheque. Locate a Quick Cheque Deposit Box near you or visit our 24/7 Self-Service branches! With Chase QuickDeposit, our remote deposit solution, you just scan your paper checks and send the scanned images electronically or through mobile deposit to Chase for deposit into your checking. The check that you will deposit in your account is called a third-party check. It was made out to your friend, but he endorsed it to your name, so you can deposit it to your bank. Several factors also come.
You can deposit a cheque into your account from anywhere by taking a picture of it using an app on your smart phone or tablet. Many financial institutions in Canada now offer this service. This process is.
- Safe – Since your money goes directly into the bank in the form of an electronic transfer, there's no risk of a check being lost or stolen.
- Quick – It's easy to receive your benefit by Direct Deposit. You can sign up online at Go Direct®, by calling 1-800-333-1795, in person at your bank, savings and loan or credit union, or calling Social Security. Then, just relax. Your benefit will go automatically into your account every month. And you'll have more time to do the things you enjoy!
- Convenient – With Direct Deposit, you no longer have to stand in line to cash your check when it arrives. Your money goes directly into your account. You don't have to leave your house in bad weather or worry if you're on vacation or away from home. You don't have to pay any fees to cash your checks. Your money is in your account ready to use when business opens the day you receive your check.
If you are applying for Social Security or Supplemental Security Income benefits, you must elect to receive your benefit payment electronically when you enroll. If you currently receive Social Security or Supplemental Security Income benefits by check, you must switch to an electronic payment option listed above.
To learn more about how to easily switch from a paper check to an electronic payment option, visit Treasury’s Go Direct website or call the Treasury’s Electronic Payment Solution Center at 1-800-333-1795. You can also create a mySocial Security account and start or change Direct Deposit online.
In extremely rare circumstances, Treasury may grant exceptions to the electronic payment mandate. For more information or to request a waiver, call Treasury at 855-290-1545. You may also print and fill out a waiver form and return it to the address on the form.
If you have any questions, call Social Security at 1-800-772-1213 (TTY 1-800-325-0778).
From: Financial Consumer Agency of Canada
How to deposit a cheque with your mobile device
You can deposit a cheque into your account from anywhere by taking a picture of it using an app on your smart phone or tablet. Many financial institutions in Canada now offer this service. This process is known as a remote or electronic deposit.
The process is simple. Start by downloading your financial institution's official banking app. You can find a link on their official website or from your mobile device’s app store.
Follow the instructions on your banking app to deposit your cheque.
Common steps include:
- logging in to your app
- selecting the option to deposit a cheque
- taking a picture of the front and back of the cheque
- confirming the details of your deposit
- storing your cheque until it has cleared
The process is secure and your financial information is not stored on your device.
What to expect when depositing a cheque with your mobile device
Be aware of eligibility, hold periods and fees as they may differ from in-branch banking.
Eligible cheques
Check with your financial institution or your account agreement to see which cheques you can deposit using electronic deposit.
Cheques that are eligible can include those that are:
- made out to you
- made out to a person you have a joint account with
- issued by any level of government in Canada
Be sure that you use the original version of the cheque, not a photocopy, PDF or printout and that the cheque hasn’t already been deposited.
Money orders, bank drafts, certified cheques and travelers cheques may also be eligible for electronic deposit. Check with your financial institution.
Hold periods
Hold periods for cheques at banks and other federally regulated financial institutions may apply to electronic cheque deposits.
Ask your financial institution when funds from a mobile cheque deposit will be available.
Deposit fees
Depending on the type of account you have, your financial institution may charge a fee to deposit cheques electronically.
Read your account agreement carefully and check with your financial institution.
Electronic deposit security
Make sure you are using an official app from your financial institution to deposit a cheque electronically. By doing so, your financial information will not be stored on your mobile device.
When you use your financial institution’s official app, all financial information is securely encrypted. Your personal information is turned into an unreadable code as it is sent to your financial institution electronically. Your financial institution uses special information, such as a password, to de-code the information and deposit your cheque securely.
Avoid using public or free Wi-Fi connections when making an electronic deposit or any other financial transactions.
Find out about protection from unauthorized transactions when banking online.
Fraud risks
There are two types of fraud that could occur with electronic cheque deposit: double presentment and identity fraud.
Double presentment
Double presentment is when the same cheque is deposited twice.
Depositing a cheque
Make sure to only deposit a cheque once, either in person or electronically. If you mistakenly deposit a cheque more than once, contact your financial institution immediately.
After completing your deposit, mark the front of the cheque so that you know it has been deposited.
Purposefully depositing the same cheque more than once is considered fraud. Fraud is a serious criminal offence that is punishable by a prison sentence.
Identity fraud
Identity fraud is when someone steals your personal information and uses it to their advantage, like to access your bank account.
Because electronic cheque deposit requires you to log in to your financial institution’s app, you could be at risk of identity fraud:
- if you haven’t protected your mobile device with a password and it falls into the wrong hands
- if you use public or free Wi-Fi connections when making an electronic cheque deposit
Using public and free Wi-Fi connections can expose the personal information you store on your mobile device to fraudsters, especially if you are logged in to your financial institution’s app.
Protect your personal information when using electronic cheque deposit by:
- using passwords to protect your device using a private and secure internet connection
- logging out from your financial institution’s app when you are finished
Get more advice on how to protect your mobile device from fraud.
Alternatives to electronic cheque deposit
If you are not comfortable with this way of depositing a cheque, you can:
- use an automated teller machine (ATM)
- go to your financial institution and deposit the cheque with a teller’s assistance
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Cheque Deposit Entry
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