Deposit Anywhere™ Frequently Asked Questions

1. What is Deposit Anywhere? Expand/Collapse

Deposit Anywhere is a time-saving feature on the Synergy CU Mobile App (available on Android and Apple devices) that allows members to remotely deposit a cheque using their mobile device. It can be done anytime of the day or night – anywhere they have Internet connection. This feature is available within our personal account packs, upon request and on approval.

2. Do I have to sign up to use Deposit Anywhere? Expand/Collapse

You do not need to sign up to use Deposit Anywhere. It is available on the Synergy Banking App (available on Android and Apple devices) for members with a personal PowerPack or personal SmartPack account, upon request and on approval.

If you have not downloaded the Synergy Banking App on your Android or Apple device, please visit the Apple App Store or Google Play Store to download. You will also need to be setup with MemberDirect® Online Banking to use the Banking App. Not signed up? Sign up now.

3. How do I use Deposit Anywhere? Expand/Collapse

Depositing a cheque with Deposit Anywhere is simple, quick and secure.  You can deposit your cheque anytime or anywhere you have an Internet connection by following these steps:

  1. Open the Synergy Banking App on your Android or Apple smartphone or tablet.
  2. Tap the 'Deposit' icon.
  3. Select your account pack where you would like to deposit the cheque.
  4. Enter the cheque amount.
  5. Snap a photo of the front and back of your cheque.
  6. Confirm the details.
  7. Tap 'Submit'.
  8. We recommend having a method to keep track of the cheques you have deposited (see below).

To easily keep track of cheques deposited through Deposit Anywhere:

  1. Write "deposited" on the back of your cheque.
  2. Keep the cheque in a safe and secure place for 90 days. We may need to contact you just in case (i.e. if the cheque image was too blurry, etc.).
  3. Safely destroy the cheques within 120 days (for instance, use a paper shredder).

4. Are there any fees for using Deposit Anywhere? Expand/Collapse

There are no fees for using Deposit Anywhere on personal account packs. It is an added-value feature since it saves you time as you do not need to stand in line to deposit your cheque. You can also deposit your cheque 24/7 and not during business hours.

5. Is depositing cheques with a mobile app safe? Expand/Collapse

Yes. As a feature of Synergy Credit Union's Banking App, Deposit Anywhere meets the same high standards as our mobile and online banking services.

6. Can cheques be deposited into any account? Expand/Collapse

Although you may see other accounts, your Canadian dollar cheques can only be deposited into your personal PowerPack or personal SmartPack account through the Deposit Anywhere feature on the Synergy Banking App. From there, once the cheque hold has cleared, you can transfer your funds to another account, such as a savings account.

7. What types of cheques can I deposit? Expand/Collapse

You can deposit any cheques that are payable in Canadian dollars at any Canadian financial institution. They must be payable to the account holder.

You can use Deposit Anywhere to deposit the following:

  • Canadian dollar cheque
  • Money Order
  • Canadian dollar bank draft
  • Convenience cheque
  • Certified cheque
    (none of the above items can be post-dated)

The following items will be rejected and not processed:

  • U.S. dollar cheque
  • Non-Canadian dollar cheque
  • Returned item
  • Savings bonds

8. Can more than one cheque be deposited at once? Expand/Collapse

No, you must deposit each cheque separately. This is for tracking and processing purposes on your account.

9. Will my deposited cheque show up immediately in
my account and can I use the funds immediately? Expand/Collapse

Deposit Anywhere works similar to an ATM, where you can make a deposit and see the cheque amount in your balance right away, but you may not be able to access these funds depending on the holds on your account. A standard one (1) day hold is placed when depositing cheques through Deposit Anywhere. This is done to ensure the cheque processes properly. If you need access to your funds immediately, we'd be pleased to help you in branch to deposit your cheque.

Deposit Anywhere is convenient since you don’t need to come in or can deposit your cheque after hours, and you can access these funds in as little as one day.

10. Is there a deposit limit per cheque or a maximum
number of cheques that can be deposited per day? Expand/Collapse

There is a maximum deposit limit of $5,000 per cheque for personal PowerPack accounts and $3,000 per cheque for personal SmartPack accounts. Only one cheque can be deposited at a time; however, you can deposit as many cheques as you would like in one day, as long as each cheque is under the maximum limit for your account pack type.

If you would like to review your personal deposit limits with us, please visit your nearest branch or call 1-866-825-3301.

11. What happens if I enter the wrong amount by mistake? Expand/Collapse

We understand that mistakes sometimes happens. The Deposit Anywhere feature will compare your amount entered and the amount in the box on the right hand side of the cheque. If these do not match, the system will usually produce an error message in most cases.

If your request does not process, you believe there was an error, or if you have any questions, please visit your nearest branch or give us a call at 1-866-825-3301 and we can help you look further into this.

12. How will I know if there is an issue with my deposit
after I submit a cheque? Expand/Collapse

We understand it gives you peace of mind to know your cheque is safety and securely deposited in your account. In the rare circumstance there is an issue with the deposit after you receive confirmation during the deposit, we will contact you to speak further with you.

13. What should I do with my paper cheques afterwards? Expand/Collapse

After depositing your cheque using this convenient feature, we recommend following a couple simple steps:

  1. Write "deposited" on the back of your cheque.
  2. Keep the cheque in a safe and secure place for 90 days. We may need to contact you just in case (i.e. if the cheque image was too blurry, etc.).
  3. Safely destroy the cheques within 120 days (for instance, use a paper shredder).
 

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