Deposit Checks
Admin and Finance users with transfer rights can deposit checks from payers within the US by following the steps below:
On your Aspire dashboard, click "Receive Funds" from the USD Checking Account page.
Select "Deposit a Check"
Upload the front and back images of the check. Ensure the quality of the image is clear; otherwise, you will be prompted to re-upload the images.
Mandatory endorsement: You must endorse the check with the phrase "For Deposit Only [Client Name] [Account Number]" or a similar phrase. Ensure also to sign the back of the check.
Some key fields would be auto-populated. It is critical to check through all fields by filling in fields that are still empty, and verifying the fields that are auto-populated, as there is a possibility that the OCR might make a mistake. The fields to verify:
Sender name
Amount
Routing number (of the sender)
On-us (the string after the routing number in MICR - usually containing the issuing account number)
Aux On-us (the string before the routing number in MICR - usually the check number)
Review the deposit details. If all information is accurate, click the ‘Deposit check’ button.
Track Check Status & View Check Image
After successful check deposit submission on the app, a pending transfer will appear under the transactions list of the Checking Account page.
To see the check details, image and track the delivery of the check:
On your Aspire dashboard, click on USD Checking Account, and select the “Pending” tab on the left side.
Select the check from the transaction list
A side pane will appear. Expand the transfer details to view the timeline/current stage it is in.
To view the check images uploaded, click "View" next to the Front/Back image field in the Check Details section
Rejected Checks
Check deposits may be rejected based on Aspire’s internal policies. For rejected checks, admin and finance users of your Aspire account will receive an email notification. You may reach out to our customer service for further assistance.
Return Checks
Check deposits may be returned by the paying institution due to various reasons. For returned checks, admin and finance users of your Aspire account will receive an email notification, including the return reason.
The most common reason for return could be ‘not sufficient funds’ (NSF) or ‘account has sufficient funds, but they are not yet available for withdrawal, typically due to a recent, uncleared deposit’ (UCF - Uncollected Funds Hold). You may contact your payer to resolve the issue based on the return reason. Below are more possible return reasons.
Code | Description |
A | NSF - Not sufficient funds |
B | UCF - Uncollected funds hold |
C | Stop payment |
D | Closed account |
E | UTLA - Unable to locate account |
F | Frozen account - account has restrictions placed on it by either the customer or bank |
G | Stale Dated |
H | Post Dated |
I | Endorsement Missing |
J | Endorsement irregular |
K | Signature missing |
L | Signature irregular - suspected forgery |
M | Non-cash item |
N | Altered/fictitious item - suspected counterfeit |
O | Unable to process such that critical payment information is missing |
P | Item exceeds stated max value |
Q | Not authorized |
R | Branch or account sold |
S | Refer to maker |
T | Item cannot be re-presented (exceeds number of allowable times the item can be presented) |
U | Unusable image - image could not be used for required business purpose |
W | Cannot determine amount - amount cannot be verified |
X | Refer to image - return reason information is contained within the image of the item |
Y | Duplicate presentment. Supporting documentation shall be readily available |
Z | Forgery - an affidavit shall be available upon request |