5 Things to Do When Depositing a Large Check with Chase Bank

how to deposit a large check with chase bank

Depositing a large check is similar to depositing a small check. The process is the same, you can make your deposit through an ATM or with a teller.

Mobile deposit is the only difference when depositing a large check, as Chase Bank has limits for mobile deposits depending on your account type and how much you’ve previously deposited on the go.

So, if you happen to have a large check and want to deposit it into your account at Chase Bank, here are a few tips that may be helpful:

  • Make sure the check is made out to you or one of your aliases.
  • Make sure there are no errors on the check, like an incorrect date or amount.
  • Deposit it in person instead of mailing it in.
  • If you are mailing the check in, make sure it’s secure and protected from getting damaged or lost.
  • Deposit it during regular banking hours.

Make Sure the Check is Made Out to You or One of Your Aliases (Nickname / Doing Business As {DBA})

writing a bank check

Chase Bank is very strict about the checks they are willing to accept.

As a banker there, I had to turn away many customers over the slightest misspelling.

If your legal name is ‘Nicolas Smith’ and you have a check made out to ‘Nicholas Smith’ there’s a decent chance Chase Bank will turn you away, especially if the check was for a very large dollar amount.

This was especially true for checks that were made out to a company name, instead of an individual.

If you do have a check made out to your nickname, like ‘Nick Smith’ instead of ‘Nicolas Smith’, you’ll want to sign the back of the check in your nickname, then beneath in your legal name.

Beneath that you can include ‘For Deposit Only’, but that’s up to you.

So long as you sign your nickname and then your legal name in that order, Chase will have an easier time accepting your check.

Like I said earlier, Chase was even stricter accepting checks for business accounts than personal accounts.

When accepting a check as a business owner, make sure your complete business name is on the check.

If your account is titled ‘Branson Knowles Enterprises’ and you have a check made payable to ‘Branson Knowles Corp’, Chase will not accept it.

Also, if your company is titled ‘Branson Knowles’ anything, I bet you have a great business!

In summary, make sure the checks you accept are made payable to the exact same name on your accounts.

Make Sure There Are No Errors on Your Check (Incorrect Date or Amount)

filling the bank check

Before you even head to Chase Bank, make sure the check is negotiable. Don’t deposit checks that have errors on them.

If there is an incorrect date or amount, it will be declined and Chase will charge you a fee. This includes a check with an expiration date that has already passed, or one that has been canceled by the person who wrote it (this is called “bouncing”).

Checks written with the incorrect date happen the most in January, as most people are still including the previous year when writing the date. Even though this is a well known issue, Chase Bank won’t accept any ‘stale-dated’ checks.

If you’re getting checks right after the new year, make sure the right year is on your check. Even if Chase accidentally accepts it, or you put it through an ATM and the machine doesn’t catch it, there’s a good chance the back office will.

Large checks are under an enormous amount of scrutiny at Chase Bank. They go through at least three layers of verification:

  • The teller who accepts the check
  • The machine that reads it
  • The back office team that finalizes the transaction

Speaking of the amount, once you deposit a check and the funds go into your account, it is very difficult to return the item. Make sure whoever paid you paid the right amount, as going back and trying to redo the process is almost impossible.

Deposit Your Check in Person Instead of Through the Mail

bank check in the office

Like I’ve said in previous articles, you can always deposit a check through the mail. Chase accepts and deposits mailed-in checks on a daily basis, usually making the transaction before the doors are even unlocked.

However, I would not recommend this method.

If you ever need to prove who deposited the check or if there is an issue with the transaction, it can be difficult to find out exactly when and where your item was processed.

If a check has been stolen or lost in the mail, it’s much easier to track down whoever mailed it than if they had just dropped it off at a branch physically.

As enticing as it might be to send your check off in the mail and wait for the system to do the work for you, I’d always recommend dropping large checks off in person.

You’ll get to see the transaction happen with your own eyes and you’ll walk away with a receipt that can track down your deposit if there is ever any trouble.

Make Sure Any Checks You Mail In Are Secure and Protected

mail service

While I don’t recommend this method, it is a viable way of depositing a large check with Chase Bank, so I’ll go over it for you risk-takers out there.

If you do want to deposit a large check with Chase Bank through the mail, here are some steps you should pay attention to:

  • Make sure the check is complete and legible. If there is any sort of error on your check, it can cause a delay in processing. Worse than a delay, your check may be declined and you could be charged a fee as well.
  • Write “For Deposit Only” in large letters across the back of the check, underneath your signed name.
  • Put an extra copy of your deposit slip in with the check to ensure that everything goes smoothly. You can also write your account number on the back of the check, but a deposit slip works even better.

Again, I really wouldn’t recommend depositing a large, important check through the mail. A wide range of mistakes can happen, many of them outside of your control. The mailman may misplace the envelope, or it could get lost at a mail facility. 

If you have to though, follow the steps I wrote above and your check should find its way to your account, eventually.

Deposit Your Check During Regular Banking Hours

bank office

Again, you don’t have to deposit your large check during regular banking hours. You can mail it in, or deposit it 24/7 through an ATM. But if you want to ensure your funds are going to where you want them to go, I’d recommend depositing during regular banking hours.

If there is a problem, you’ll know immediately. Or, if there will be a hold placed on your check, you can be in the perfect place to ask why. Tellers don’t have all the answers, but may be able to give you a timeframe as to when the check will clear.

As a general rule of thumb, deposit all of your large checks with Chase Bank during regular business hours to have a set timeframe as to when your check will be ready for use.

Talk With a Bank Employee if You Have Any Questions

bank employee

Bank tellers, or Associate Bankers at Chase Bank, exist to make your banking experience as smooth as possible.

If you have any questions about your deposit, no matter how small or ‘dumb’ you think they might be, ask an employee at Chase.

They may not have all the answers, but they can usually give you a good idea of what to expect when depositing a large check.

During my time at Chase, it wasn’t uncommon for customers to call in and ask questions regarding their deposits. Feel free to reach out to your local branch. Tell them how much you’re planning on bringing in, and ask any questions that are on your mind.

Chase Bank employees, including the associate bankers/tellers, are there to help you. They want you to feel as comfortable as possible with your banking experience and will try their best to answer any questions that you may have.

If they can’t answer them immediately, don’t be surprised if they call you back later that day or the next morning.

Why Did Chase Bank Place a Hold on Your Large Deposit?

Chase Bank will place a hold on your large deposit because they want to make sure that the funds are available. This is an industry standard, and it’s also something that you should expect from any bank.

Banks have to protect themselves against losses, and this is one way that they do it. If you deposit a check into your account, then Chase will hold those funds until they see that the check has cleared from the other bank.

Holds placed on checks aren’t always placed by Chase. If Chase can’t communicate with the remitter’s bank in a timely fashion, or if that bank has a bad history of letting people write fake checks, Chase may be forced to place a hold.

They may also place a hold based on account history, taking in any previously “bounced” checks you may have deposited into consideration.

If you want to ensure your checks don’t have hold placed on them, keep your account in good standing with regular, recurring deposits. Chase will see your longevity with them and handle your situation with a little more faith than they would otherwise.

Conclusion

If you want to deposit a large check at Chase Bank, treat it the same as a normal deposit. Make sure the check is negotiable, the amount is correct, and it’s not coming from a fraudulent account.

If you have a long hold placed on your check, wait a business day or two and call your local branch to see if there’s any way they can expedite the process.

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