New Features - Mobile Check Deposit Is Quick And Easy

As part of our ongoing commitment to enhance your online experience, we are pleased to announce that several useful and convenient features have recently been introduced to our SiebertNet web site.

Mobile Check Deposit provides Siebert customers with a quick and cost efficient way to deposit checks for processing straight from their iPhone®, iPad® or AndroidTM device via the myStreetscape® Mobile application. Simply snap a picture of the check, key in the amount, and select the brokerage account(s) to receive the deposit. Deposits created via a mobile device are immediately sent for review, approval and deposit into the customer’s brokerage account.

Mobile Check Deposit Benefits
  • Added convenience
  • Easy to use
  • No mailing expenses
  • Real-time brokerage account validation
  • Reduced processing time
Is there a cost for Mobile Check Deposit?
There is no cost to use the Mobile Check Deposit feature available on the myStreetscape® Mobile application.

How will I know if my deposit has been processed?
Mobile deposit status updates will display on the your mobile device under Money Movement on the Transaction Status screen. Once the deposit has been successfully processed, mobile deposits will display as ‘Received’ and will appear in the Account History.

When will I see the deposit posted to the account?
Generally, deposits submitted on a business day prior to 4:00 PM Eastern time and determined to be in good order will be posted on the same business day. Check deposits are not processed on Saturdays, Sundays, or New York Stock Exchange and bank holidays.

Are the check photos stored anywhere on my mobile device?
No. The photos are not stored on your device.

What should I do with the check after I complete my deposit?
You should consider storing checks in a secure location until you confirm that the deposit is successfully credited to your brokerage account and displays in the Account History as Check Received.

I completed a deposit. What do the statuses mean?
At the account level, tap the Money Movement Tab and then tap Transaction Status. The following are the possible statuses:
  • Open-Balanced: Deposit is pending review.
  • Received: Deposit was transmitted to the bank and intraday credit posted to the brokerage account.
  • Open Disapproved: There is an issue with your deposit.
  • Deposit NIGO: There is an issue with your deposit.
How much can I deposit?
The maximum amount of deposit in a day is $50,000.
  • Make sure all checks are payable to Muriel Siebert & Co., Inc. Make sure the back of the check is endorsed.
We will not accept the following checks:
  • Checks made payable to cash
  • Altered checks
  • Checks in a foreign currency or drawn on a foreign bank
  • Post-dated checks
  • Stale-dated checks
  • Unsigned checks
  • Money orders
  • Third-party checks
  • Traveler’s checks
  • Starter kit checks
Suggested Best Practices
  • Be sure to have a strong wireless connection
  • Close other open applications that are running on your device as Mobile Check Deposit uses quite a bit of random access memory to function properly
  • Take images in a well-lit area to prevent shadows
  • Place the physical check on a contrasting background
  • Use the assistive guides in the mobile application and ensure all 4 corners of each check are captured in the image
  • Hold the device steady and allow the camera to auto-focus on the image prior to snapping a picture of the check to ensure a clear, non-blurry image
Can I split a check across several accounts using Mobile Check Deposit?
Yes. You can split a check across as many as five (5) brokerage accounts.



apps

Supported Mobile Devices: Support is provided for the iPhone® Version 4.0+ using iOS 7.1.2+, iPad® Version 2+ using iOS 7.1.2+, and devices running the AndroidTM operating system Versions 4.3+.
Note: The device must contain a camera.






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