This Is One Feature I Hate About Mobile Banking

Low deposit limits for mobile deposits limit when you can submit checks via phone -- and that's a huge pain.

Mobile banking is a huge time saver, as it enables me to do so many things. I can check my account balance, move money from checking to my savings account, and arrange bill payments right from my phone or from my tablet.

I also can deposit checks. But, there's a big catch when it comes to the ability to deposit money in my checking account from the comfort of home -- and it's a feature I really dislike about mobile banking.

This mobile banking issue is a real annoyance

Most mobile banking apps make it possible to take a photo of a check and then deposit the money into a bank account linked with the app. However, banks typically limit the specific amount you can deposit both per day and per month.

There are different limits set by different financial institutions, with some banks establishing the same limit for everyone and others setting the maximum mobile deposit amount individually for each customer. But, in many cases, these limits are relatively low.

The problem is, if you have a larger check than the mobile app allows you to deposit, you end up having to take it to the bank -- which defeats the point of the convenience of using the app in the first place.

And, worse, if you're with an online-only bank without branches, you may have to mail in the check. This not only is a huge hassle, but it could mean your money won't be available for a long time because you have to wait for the check to travel through the postal service, get to the bank, be processed, and land in your account.

This entire process can take over a week, and if you're waiting for the money to pay the bills, then you could be in trouble.

Is there a way to overcome it?

If you also find yourself annoyed by this feature of mobile banking, you do have options.

The approach I took was to find a bank that had a very high deposit limit. I can now deposit checks up to $50,000 in my account, which is a whole lot better than my old account that capped me at $2,500. For most people, being able to deposit up to $50,000 at a time is going to pretty much be sufficient for all of their needs.

You can also opt for a bank that has a branch location convenient to you. This way, if you do have to make an in-person deposit because the mobile app limit is too low, at least you can do so quickly and easily. This pretty much rules out online banks though, which isn't ideal since these banks tend to have lower fees and better terms in many cases.

Ultimately, this may not bother you if you aren't depositing checks regularly. But if you do want to be able to make a mobile check deposit in a larger amount, then be sure to pay careful attention to this feature when picking the bank that's right for you.