Wayflyer offers check deposits without needing to travel to an ATM or a physical bank location. This process will require a mobile phone with a camera that can be used to link to your Wayflyer account, so that you can take images of your check.
To start the deposit process navigate to the ‘Deposit’ option in the top right corner of your banking tabs. Once there you will need to select ‘Check deposit’ to start the process.
You will then see a QR code to scan which will open the check deposit flow on your mobile device. Scan the QR code and follow the instructions presented. You will be required to do the following:
Sign the back of the check
Enter in the deposit amount on the check (This will be verified with the image provided)
Take a photograph of the front of the check in good lighting
Take a photograph of the back of the check in good lighting
Once this process is completed it will take up to five business days for the funds to be deposited into your bank account. It is recommended that you hold onto the physical copy of your check until the check fully clears, in case there are any issues and we need to verify additional images of the check.
Frequently Asked Questions:
Can I deposit a check via ATM?
No, at this time we are only able to offer check deposits through the deposit process in your Wayflyer account.
I deposited my check and do not see it in my account yet, why?
All checks deposited into your account go through a review process. This does take some time, but the check should be deposited within 5 business days. If you have not seen the funds hit your account in that time, please reach out to [email protected] to see if there are any issues causing delays.
Is there a limit to the amount I can deposit via check?
At this time, there is a limit of $45,000 which is able to be deposited into an account in a single day.
For support questions for the Wayflyer Banking product, please do not hesitate to reach out to [email protected].
Wayflyer is a financial technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. FDIC deposit insurance covers the failure of an insured bank. The Wayflyer Visa debit card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply.
Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure/ and a list of program banks at https://thread.bank/program-banks/. Please contact [email protected] with questions on the sweep program. Pass-through insurance coverage is subject to conditions.