Today’s guide will discuss the Simplii mobile deposit limit in Canada.
Mobile deposit is a feature that lets you deposit a check from anywhere using the Simplii mobile app and your camera-enabled smartphone.
You need to download the Simplii Financial mobile banking append and then enroll for mobile deposits.
The guide also seeks to expound on how mobile deposit works and funds availability when using the feature.
Simplii Mobile Deposit Limit
The Simplii mobile deposit limit is $999,999.99.
You will be notified before completing the transaction if you exceed the set limit.
You cannot deposit more than the limit, so you have to seek an alternative method to deposit your check.
You can deposit your check at any CIBC ATM in Canada.
This is the Simplii mobile deposit limit in Canada.
How Does Simplii Mobile Deposit Work
Follow the steps below to use the Simplii mobile deposit:
- Sign the back of the cheque and write ‘For Deposit Only
- Sign on to the mobile app
- Select mobile deposit from the top mobile carousel or eDeposit from the menu located on the left.
- Use your phone’s camera to take photos of your cheque
- Lay the check on a flat surface with a solid background and take a photo of the front and then the back of the cheque
- Confirm the amount of the cheque and select the account you would like to deposit the money in
- Select ‘next’ to verify your details and then submit
After submitting your check, mark the front of the check as ‘Paid’ and keep it for at least five days.
You can then destroy the check within 120 days.
This is how Simplii mobile deposit works in Canada.
When Are My Funds Available?
Direct deposits to your Simplii account are available immediately.
Canadian dollar ATM and mobile deposit are usually posted to your account immediately, but funds may be held for your hold period for up to 5 business days.
Deposits are not available on non business days.
Nonbusiness days are Saturdays, Sundays, and national holidays.
This answers the question of when Simplii mobile deposit funds are available in Canada.