Before smartphones became the primary way to do your banking, you needed to visit your local bank branch to deposit checks. It could take up to a week for the money to clear and be reflected in your available balance.

Today, things are much different and nearly effortless. You can snap a photo of your check with your smartphone and never need to step foot in a bank. While some accounts will still take several days before you have access to your money, other banks make funds available immediately.

Keep reading as we dig into some banks with instant mobile check deposit.

Banks With Immediate Funds Availability

Below are some banks that allow you to cash checks online instantly.

SoFi

SoFi is an online bank with one of our favorite free checking accounts. When you sign up for a new account, you can earn a $300 bonus. Plus, as a customer, you can use your account to receive early direct deposit of your paycheck. You’ll also have access to mobile check deposit, where your funds can be available almost immediately. 

When the mobile deposit occurs before 5 p.m. ET, the funds are available on the same business day. Deposits made after 5 p.m. will be available the next business day.

Axos Bank

Axos Bank is another online bank with several banking products, including the Axos Bank Rewards Checking and Basic Business Checking accounts. If you complete your mobile check deposit before 6 p.m. ET, Axos Bank will make it available immediately.

KeyBank

If you have a KeyBank account, you can receive instant mobile check deposit, but it will cost you a 2% service fee. While this isn’t ideal, it will provide immediate access to your funds if needed.

U.S. Bank

U.S. Bank accounts allow customers to access up to $225 of their money immediately if they deposit before 10 p.m. ET. If the check is over $225, the remaining amount is usually available the next business day.

PNC Bank

With PNC Bank, you can access your mobile deposit the same day if it happens before 10 p.m. ET. However, a fee of $2.00 applies to checks between $25 and $100. For any check above $100, the fee increases to 2%.

GO2bank

GO2bank is an online bank that gives customers instant access to mobile deposits. The only downside is that all deposits come with a fee. It’s 1% for government checks; everything else is 5% of the check amount with a minimum of $5.

Fifth Third Bank

You’ll have immediate access to mobile deposits on Fifth Third Bank accounts when the deposit takes place before 8 p.m. ET. However, you’ll need an Express Banking membership, which costs $5 per month.

Huntington Bank

If you have an open consumer or business account with Huntington Bank for at least 30 days, you can receive up to $500 of any mobile deposit instantly. The rest of the deposit will be available the following business day. Huntington Bank doesn’t charge for this feature.

Citizens Bank

Citizens Bank customers can receive a free instant mobile check deposit when they need the funds to cover overnight transactions. Deposits must be made before 10 p.m. ET.

Valley Bank

Valley Bank customers will receive free instant access to their mobile deposit funds when they make a deposit before 6 p.m. ET on a business day.

How Fast is an Instant Check Deposit?

Many banks use instant check deposits in their marketing campaigns. Unfortunately, what banks classify as “instant” can vary significantly. Some banks classify instant as within the same business day. However, other banks actually mean instantly, and the funds are available within minutes after making your mobile deposit.

How Do Banks Verify Mobile Deposits?

When banks are trying to verify mobile deposits, there are several things that they will consider. Most importantly, they want to understand your account history. Do you overdraft your account frequently? If so, then it might take a little longer than average for them to verify your mobile deposits.

Another factor that might cause the process to take longer is if the check is for a significant amount. For example, processing a $10,000 check might take longer than a $100 check.

The bank will also need to ensure the check was filled out correctly. Is there missing information? Did you sign the back of the check? These are all things that can delay the verification of mobile deposits.

How Long Does It Take For Checks to Clear With a Mobile Check Deposit?

Even though you might have a mobile banking app where you can deposit checks and immediately access the money, that doesn’t mean the check has cleared. The bank must ensure the funds are available before clearing the entire check amount. Sometimes, this can happen the next business day, but it’s not unheard of for a check to clear in five or six days. However, that’s a lot less common today than a decade ago.

The Bottom Line

Most banks today allow you to deposit checks anytime through your mobile device. Many banks will require you to wait until the next business day to access the funds. However, some banks provide their customers with instant mobile check deposits.