What types of transactions can I perform through Mobile Banking?
Charter Oak Federal Credit Union (Charter Oak) offers Mobile Banking for any member enrolled in Charter Oak Online Banking. You can perform the following transactions through Mobile Banking:
- View your deposit and loan accounts
- Check your balances
- View your posted transactions
- Deposit checks with our mobile banking app
- Make a transfer
- Make bill payments (to any payee in your online profile)
- Find a Charter Oak Branch
How can I access Mobile Banking?
Access is easy! You can access Mobile Banking by going to the same web address you are accustomed to for logging in to Charter Oak Online from your computer. When you access Charter Oak Online Banking from your mobile device, we will detect you are on a mobile phone and will redirect you to the Charter Oak Mobile Banking site. You can also download Charter Oak’s Mobile Banking App for Android or iPhone smartphones and iPads.
What do I need to do before using Mobile Banking?
First, you must be enrolled in Charter Oak Online Banking. You can register in Online Banking from our website at www.CharterOak.org. Once you’ve registered and enrolled, you can log in and view all of your accounts. Secondly, before you can use Mobile Banking to pay your bills, you must first have established your payees in Charter Oak’s Online Banking Bill Pay.
Do I need a special phone to use Mobile Banking?
Charter Oak Mobile Banking supports a wide variety of mobile phones. Your phone must have web browsing capabilities in order to access our Mobile Banking site.
Our Mobile Banking App supports the following operating systems:
Does Charter Oak charge a fee for Mobile Banking?
Use of Mobile Banking is provided at no cost to you through Charter Oak. You may, however, be charged data or other internet access fees. Check with your mobile services carrier for details on data usage plans and service charges.
How can I reset my password?
If you forget your password, you can now reset your password with our improved Online Banking. Click on the Forgot Password link on CharterOak.org in the Online Banking login and then follow the instructions that will allow you to reset your password.
How can I set up Touch ID or Facial ID?
When logging in to the app enter in your username, password and turn on the Remember Me button. Then, choose the three lines that say “More” and choose settings. Turn on the Touch or Facial ID button. You will be prompted to enter in your username and password again to enable. Just a reminder: each time you change your password you will need to re-enable your Touch or Facial ID.
How can I change my password?
Once logged in to the app, choose the three lines that say “More” and choose settings. Select security to change your password.
Mobile Deposit FAQs
What is Mobile Deposit?
Mobile Deposit (also known as Remote Deposit Capture) refers to the ability to deposit a check into a credit union account via a smartphone or desktop computer without having to physically deliver the check to the credit union. This is typically accomplished by taking a picture of the check with the camera function on your smartphone (or scanning a digital image of a check into a computer), then transmitting that image to the credit union.
How do I use Mobile Deposit?
To use this service you will need to be enrolled in Charter Oak Online Banking and have an eligible account.
- Install the remote app to your smartphone or tablet
- Agree to terms and conditions that are/if presented
- Choose the “Make A Deposit” icon
- You are now ready to photograph the front and back of checks;
a. Choose which account to make your deposit
b. Enter amount of deposit
c. Review deposit
d. Click submit
What type of smartphone can I use for Charter Oak Mobile Deposit?
Currently, Charter Oak Mobile Deposit can be used with supported Android or Apple operating systems.
Not Available for Blackberry or Windows phones
Are there fees to use Charter Oak Mobile Deposit?
There is no charge from Charter Oak to install our Mobile Banking app or to use Charter Oak Mobile Deposit. A data plan is needed to access our apps. Standard data and message rates may apply. Please contact your service provider if you have any questions.
Are there limits to how much I can deposit with Charter Oak Mobile Deposit?
Limits that apply to the amount of any individual check, the dollar amount and number of checks that may be deposited in a day, and the dollar amount of checks that may be deposited in a multi-day period appear below:
Deposit daily limits are as follows:
- Pay Limit – Single check deposit amount limit: $5,000 (effective March 23, 2021)
- Daily Amount Limit – Daily cumulative deposit amount limit: $5,000 (effective March 23, 2021)
- Daily Count Limit – Daily cumulative deposited item count limit: 10
Deposit monthly limits are as follows:
- Monthly Amount Limit – Monthly cumulative deposit amount limit: $15,000 (effective March 23, 2021)
- Monthly Count Limit – Monthly cumulative deposited item count limit: 20
- Deposits greater than the limits will be declined. We reserve the right to modify such limits from time to time or to impose different limits on certain members.
- To view any modifications to such limits please check CharterOak.org.
Please refer to Terms of Service for additional details.
What is the deadline for funds to be credited on a business day when using Charter Oak Mobile Deposit?
Deadlines: Cutoff Time Frames. All deposits made via the Charter Oak Mobile Deposit service must be received by us by 3:00 pm EST, in order for such deposits to be credited on the business day the deposits were transmitted.
- All deposits made via the Charter Oak Mobile Deposit service received after such deadline (or received on a day other than a business day, i.e. Saturday, Sunday or a banking holiday) shall be credited on the business day following such receipt.
- All funds are automatically placed on a two-day hold; extended holds may apply.
How will Mobile Deposits made with my Charter Oak Mobile Deposit appear in my account listing?
Mobile Banking deposits will appear as a deposit transaction with a Mobile Deposit comment. Deposits made after 3:00 pm EST will not be seen as a deposit transaction until the next business day.
Requirements: Check Images. All check images shall legibly and accurately depict legal and courtesy amount field, payee, date, check number, drawee information, and memo line designation.
- In addition you must verify that the Magnetic Ink Character Recognition (“MICR”) line is true and accurate in its reproduction on the check image.
- We have the right to adjust the amount of any deposit based on our review of the image. We shall not be liable for any damage resulting from a check or item’s poor image quality, including those related to rejection of or delayed or improper crediting of such a check or item or from any inaccurate information you supply regarding the check or item.
Endorsement: You must endorse each check before transmission exactly as the check or item is made payable and also indicate “For Mobile Deposit Only to COFCU” below your signature.
Destruction of Checks: All checks shall be retained in a secure fashion. Our standards require that the check be retained for a minimum of sixty (60) calendar days after funds have been made available. You shall safeguard all checks prior to their destruction from unauthorized access and use, including without limitation, theft, alteration, access, re-imaging, and re-presentment.
- No Further Use of Check: You will not permit the check to be presented, returned or otherwise used to obtain a payment that would duplicate the payment sought by the deposit made via the Charter Oak Mobile Deposit service.
Franking: If the check was previously refused or rejected and is to be presented for deposit or payment subsequently, then the face of the check must be marked with the date the electronic image was refused or rejected.
Email Notifications: You will receive a “deposit received” confirmation email once you have submitted a deposit.
Funds Availability: All deposits are placed on an automatic two business day hold. Funds will not be available until the hold has expired.
- You will see your deposit reflected in your available balance once funds become available.
How should I sign checks when using Charter Oak Mobile Deposit?
You must endorse each check before transmission exactly as the check or item is made payable. In addition to signing the check where required please mark the back of each check with the notation “For Mobile Deposit Only to COFCU”. If the check was previously refused or rejected and is to be presented for deposit or payment subsequently, then please mark the face of the check with the date the electronic image was refused or rejected.
Will I receive an email after making a deposit with Charter Oak Mobile Deposit?
You will receive a confirmation email once you have submitted a deposit. You will receive a second confirmation email after the initial “deposit received” email informing you whether or not the deposit has been “approved” or “declined”. If your deposit is made after 3:00 pm EST you may not receive the approval or decline email until the next business day.
When will my funds be available after making a deposit with Charter Oak Mobile Deposit?
Funds are automatically placed on a two business day hold, but such availability shall be subject to our discretion with respect to our risk-based monitoring of your account. You will see your deposit reflected in your available balance once funds become available. If your funds are placed on an extended hold you will receive notification via email.
Is Charter Oak Mobile Deposit Secure?
Charter Oak Mobil Deposit is protected by several layers of security. This app uses 128-bit SSL encryption technology to protect your financial activities.
What kinds of checks can I deposit with Charter Oak Mobile Deposit?
Charter Oak Mobil Deposit can process checks payable in U.S. dollars and drawn on any U.S. bank, including, but not limited to:
- Personal checks
- Business checks
- Traveler’s checks
- Remember to sign the front of your Traveler’s check as well as the back to prevent the item from being returned for missing signatures
- Money orders
- Money Gram money orders are not able to be processed via Charter Oak Mobile Banking
- U.S. Treasury checks cannot be processed via Charter Oak Mobile Deposit.
- Typically postcard format refund checks do not process.
- The print quality of the check may prevent it from being processed.
Please note: Charter Oak Mobile Deposit is designed for U.S. personal and business checks. Other check forms resembling personal and business checks can also work, but they will never be 100%.
Can foreign currency checks be processed through Charter Oak Mobile Deposit?
No. Charter Oak Mobile Deposit is only for checks payable in U.S. dollars and drawn on banks in the United States.
How do I get the best image of the check using Charter Oak Mobile Deposit?
- Flatten the check and place it on a dark, non-reflective surface. Make sure there is enough light to distinguish the check from the background.
- Line up the check with the horizontal and vertical guides provided and click the camera icon to take a picture.
- The image will be displayed for you to review. If it is not readable, click “Retake” to retake the picture of the check.
- If you can read the details on the check, click “Use” to keep the image.
If our system cannot correctly interpret the writing on your check, you always have the options of depositing your check at any Charter Oak branch or ATM. Note: Please remember to endorse the check before you scan it. If you don’t, the payer’s bank may choose not to pay it and the deposit credit to your Charter Oak account will be reversed.
What happens if the system times out while I am taking pictures of the images using Charter Oak Mobile Deposit?
If the session times out during the taking of your check image pictures, you will need to start the deposit over from the beginning.
How long should I keep the original checks after making a deposit with Charter Oak Mobile Deposit?
Once you’ve scanned and submitted your deposit, you should mark the checks as having been deposited and store them in a secure location until you destroy them. There are no laws or regulations that specify any length of time you need to keep the original checks. We recommend that you destroy the original checks after 60 days of receiving your notification of your deposit.
Should I be concerned with the security of Mobile Deposit?
Charter Oak has the primary responsibility of protecting the information and the systems that the information resides on from compromise and attack. Keeping a member’s information safe has always been just as important as keeping our members’ money safe. Safeguarding the system, the information, and the database remains our top priority.
What do I do with the check after I have deposited it?
After the original check has been successfully scanned and processed, the original item should be destroyed using, at a minimum, a “cross-cut” shredder. While waiting to verify the deposit, the original items should always be kept safe just like you would safeguard your cash. Checks are like cash. They should be treated as negotiable instruments.
Who can I call if I have questions about Charter Oak Mobile Deposit?
Please call our Contact Center at 860.446.8085 or toll free at 800.962.3237 for questions about Charter Oak Mobile Deposit.