Endorsing a check for mobile deposit through Purdue Federal Credit Union (Purdue FCU) involves signing the back of the check. This signature acts as verification that the payee is transferring the funds to the financial institution for deposit into their account. For example, if a check is made out to “John Doe,” John Doe must sign the back of the check before submitting it via Purdue FCU’s mobile banking app.
Proper endorsement is crucial for successful mobile check deposits. It protects both the account holder and the financial institution from potential fraud and ensures the accurate transfer of funds. Furthermore, it provides a clear audit trail. Historically, checks required physical deposit at a branch or ATM. Mobile deposit offers convenience and speed, but maintains security through the endorsement requirement.
