# Why the limit on deposit-by-phone? **URL:** \ **Category:** Factual Questions\ **Created:** [August 20, 2013, 12:50am UTC](https://boards.straightdope.com/t/why-the-limit-on-deposit-by-phone/666680 "2013-08-20T00:50:16Z")\ **Posts on this page:** 10\ **Page:** 1
**Author:** ![beowulff](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/beowulff/32/542_2.png) [@beowulff](https://boards.straightdope.com/u/beowulff)\ **Post date:** [August 20, 2013, 12:50am UTC](https://boards.straightdope.com/t/why-the-limit-on-deposit-by-phone/666680/1 "2013-08-20T00:50:16Z")
My bank (B of A) puts a $10,000/month limit on the amount that can be deposited by using the BofA app on my iPhone. I know other banks have similar limits. Why the limit? Fraud prevention? ---
**Author:** ![drachillix](https://avatars.discourse-cdn.com/v4/letter/d/48db29/32.png) [@drachillix](https://boards.straightdope.com/u/drachillix)\ **Post date:** [August 20, 2013, 12:52am UTC](https://boards.straightdope.com/t/why-the-limit-on-deposit-by-phone/666680/2 "2013-08-20T00:52:38Z")
> [@beowulff](#): > > My bank (B of A) puts a $10,000/month limit on the amount that can be deposited by using the BofA app on my iPhone. I know other banks have similar limits. > Why the limit? Fraud prevention? May be something more tied to specific account types, my BofA business account has a $25K limit on deposits via phone app… I will look forward to the day that is a problem. I have definitely done more than $10K in a month ---
**Author:** ![Keeve](https://avatars.discourse-cdn.com/v4/letter/k/f07891/32.png) [@Keeve](https://boards.straightdope.com/u/Keeve)\ **Post date:** [August 20, 2013, 1:36pm UTC](https://boards.straightdope.com/t/why-the-limit-on-deposit-by-phone/666680/3 "2013-08-20T13:36:39Z")
fraud prevention sounds reasonable to me. do you have reason to doubt it? ---
**Author:** ![beowulff](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/beowulff/32/542_2.png) [@beowulff](https://boards.straightdope.com/u/beowulff)\ **Post date:** [August 20, 2013, 1:40pm UTC](https://boards.straightdope.com/t/why-the-limit-on-deposit-by-phone/666680/4 "2013-08-20T13:40:16Z")
> [@Keeve](#): > > fraud prevention sounds reasonable to me. do you have reason to doubt it? I’m just not sure what they are trying to accomplish. The check still requires 14 days to “clear.” ---
**Author:** ![Habeed](https://avatars.discourse-cdn.com/v4/letter/h/a587f6/32.png) [@Habeed](https://boards.straightdope.com/u/Habeed)\ **Post date:** [August 20, 2013, 4:28pm UTC](https://boards.straightdope.com/t/why-the-limit-on-deposit-by-phone/666680/5 "2013-08-20T16:28:37Z")
Maybe they want to keep on file the original check for deposits bigger than that? The actual ink on paper can be examined with a microscope, and there’s anti-counterfeiting features on checks themselves that they can check if later there is an issue. ---
**Author:** ![Alley\_Dweller](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/alley_dweller/32/430_2.png) [@Alley\_Dweller](https://boards.straightdope.com/u/Alley_Dweller)\ **Post date:** [August 20, 2013, 4:58pm UTC](https://boards.straightdope.com/t/why-the-limit-on-deposit-by-phone/666680/6 "2013-08-20T16:58:12Z")
Since you have the original check, the bank takes the risk that you will try to redeposit it (perhaps at another bank). There is nothing stopping you from waiting the 14 days for the first deposit to clear and then taking the check to another bank and depositing it again. Heck, you don’t even have to wait the 14 days to redeposit. There are rules about charging back duplicate checks and such. But banks want to limit their exposure to such scams. ---
**Author:** ![BrotherCadfael](https://avatars.discourse-cdn.com/v4/letter/b/977dab/32.png) [@BrotherCadfael](https://boards.straightdope.com/u/BrotherCadfael)\ **Post date:** [August 20, 2013, 5:00pm UTC](https://boards.straightdope.com/t/why-the-limit-on-deposit-by-phone/666680/7 "2013-08-20T17:00:40Z")
Note directly on point, but related: I do a good bit of my banking online. I pay my bills a couple of times each month (one set in mid-month, one set at the end of the month), and I transfer funds from our savings to our checking to cover what I am sending out. One month we had a couple of extra expenses, and I had to transfer funds several more times. We got a letter from the bank telling us that we are limited to six transfers from savings to checking each month, due to banking regulations. Possibly a similar thing going on with the deposit by phone question? ---
**Author:** ![Keeve](https://avatars.discourse-cdn.com/v4/letter/k/f07891/32.png) [@Keeve](https://boards.straightdope.com/u/Keeve)\ **Post date:** [August 20, 2013, 6:11pm UTC](https://boards.straightdope.com/t/why-the-limit-on-deposit-by-phone/666680/8 "2013-08-20T18:11:44Z")
> [@BrotherCadfael](#): > > Note directly on point, but related: I do a good bit of my banking online. I pay my bills a couple of times each month (one set in mid-month, one set at the end of the month), and I transfer funds from our savings to our checking to cover what I am sending out. One month we had a couple of extra expenses, and I had to transfer funds several more times. We got a letter from the bank telling us that we are limited to six transfers from savings to checking each month, due to banking regulations. > > Possibly a similar thing going on with the deposit by phone question? I’ve always presumed that the checking/savings transfers are limited simply because unlimited transfers would blur the line between the two types of account. But they want/need to maintain distinct differences between the accounts for marketing and pricing purposes. I can’t think of anything comparable relating to the deposit-by-phone issue. ---
**Author:** ![md2000](https://avatars.discourse-cdn.com/v4/letter/m/73ab20/32.png) [@md2000](https://boards.straightdope.com/u/md2000)\ **Post date:** [August 20, 2013, 8:44pm UTC](https://boards.straightdope.com/t/why-the-limit-on-deposit-by-phone/666680/9 "2013-08-20T20:44:44Z")
> [@Keeve](#): > > I’ve always presumed that the checking/savings transfers are limited simply because unlimited transfers would blur the line between the two types of account. But they want/need to maintain distinct differences between the accounts for marketing and pricing purposes. > > I can’t think of anything comparable relating to the deposit-by-phone issue. When someone says “due to regulations” the question is whose? The bank itself or the government? I could see where the bank would say “the purpose of savings accounts and the fabulous 1.05% interest we offered is for low-turnover accounts.” Normally though, I would expect the bank instead to convert the account to a (higher-fee, no interest) non-savings account without telling you until you questioned the fees a few months from now. ---
**Author:** ![Mr.Slant](https://avatars.discourse-cdn.com/v4/letter/m/c57346/32.png) [@Mr.Slant](https://boards.straightdope.com/u/Mr.Slant)\ **Post date:** [August 20, 2013, 11:50pm UTC](https://boards.straightdope.com/t/why-the-limit-on-deposit-by-phone/666680/10 "2013-08-20T23:50:27Z")
> [@md2000](#): > > When someone says “due to regulations” the question is whose? The bank itself or the government? > > I could see where the bank would say “the purpose of savings accounts and the fabulous 1.05% interest we offered is for low-turnover accounts.” Normally though, I would expect the bank instead to convert the account to a (higher-fee, no interest) non-savings account without telling you until you questioned the fees a few months from now. The Fed. See page 3 of this: > **[int\_depos.pdf](https://www.federalreserve.gov/boarddocs/supmanual/cch/int_depos.pdf)** > > 31.83 KB look under Savings Deposits. As to why the bank can’t just classify everything as a checking account, I’m not sure. I suspect their ability to lend is greater on savings accounts than on checking accounts.