Chase to increase iPhone deposit limit this weekend

One of the most useful apps on my iPhone is the free Chase app that I reviewed just over a year ago.  Any bank app is useful when you want to do basic features like check your account balance, but the Chase app is particularly useful because it includes the ability to deposit a check on your iPhone.  Using a feature that Chase calls QuickDeposit, you simply use the iPhone app to take a picture of the front and back of your check, and after a few taps, your deposit is finished.  Not only can you deposit a check any time of day or night, you can deposit a check without having to actually go to the bank or an ATM machine.  It’s like magic.

  

My only criticism of this app has been the deposit limit.  Chase has only allowed a deposit of up to $1,000 a day and up to $3,000 a month using the app.  Fortunately, according to a message that Chase recently sent to users of QuickDeposit (which includes not only users of the Chase iPhone app but also the Chase Android app), starting this weekend Chase is raising the limits to $2,000 a day and $5,000 a month.  The message that I received from Chase states:

Date: 09-24-2001  18:20:00
From: Chase Online
Subject: Important update to your Chase QuickDeposit(SM) Agreement

Dear Chase Customer: 

You are receiving this message because you are enrolled in Chase QuickDepositSM. We are increasing the deposit limits for this service effective October 2, 2011

As a consumer or business customer, you can deposit as much as $2,000 on any day and as much as $5,000 over any thirty (30) day period. 

We updated the Chase QuickDeposit Service Agreement (Single Check Deposit) to reflect this information. Your continued use of the Online Services acknowledges your agreement to the amendment. The updated agreement will be available online on October 2, 2011. You can review the latest agreement anytime by logging on and clicking the “Legal Agreements and Disclosures” link at the bottom of any page. 

We appreciate your business and look forward to serving all of your financial needs. Please call us at 1-877-CHASEPC (1-877-242-7372) if you have any questions. 

Sincerely, 

William S. Sheley
Senior Vice President
Chase Online Banking

The increased deposit limits starting this Sunday, October 2, 2011 will make the Chase app even more useful.  If you are a Chase customer and you don’t already use this app, you really should.

Click here for the Chase app (free):  Chase

8 thoughts on “Chase to increase iPhone deposit limit this weekend”

  1. State Farm Bank has the same type of system. They don’t have limits on daily or monthly deposits for their iphone app…very convenient

    Reply
  2. I wish the limits were higher as well, but I understand reasons for them. There are risks to being able to deposit checks that you retain, and they need to mitigate those risks. I think that they should better manage limits based on the account types or relationship balances. For example:
    [Personal]
    High School Student Checking: $500
    College Student Checking: $1000
    Total Checking: $2000
    Premier Checking: $5000
    Premier Platinum Checking: $10000
    Chase Private Client: $15000
    [Business]
    Total Business Checking: $5000
    Performance Business Checking: $15000
    Platinum Business Checking: $25000
    Just a thought…

    Reply
  3. Being disabled I have to have someone run my insurance check to bank every month because its 2700$
    It’s still to low to be practical

    Reply
  4. I live in a small town and the nearest Chase Bank is more than 20 miles from my home. I install the mobile app for convenience, but with the 2,000 limit I will still have to travel to make deposits. At lease make the monthly limit also the daily one.

    Reply
  5. This is ridiculous. We are going to close our business account because of this. $2000/$5000 is way to low for a business account. They spend tons marketing to get you to open an account, then provide a terrible restriction like this? Shameful.

    Reply
  6. This is just a deposit not withdrawing, therefore, I do not see any problem or cost for the bank to increase the deposit limit to every one.
    Regards

    Reply

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