Here is a step-by-step guide on how to deposit a 401(k) rollover check into a Merrill Lynch IRA using the Merrill Lynch mobile app:
- Open the Merrill Lynch app and log in to your account.
- Click on the “Menu” tab in the bottom menu.
- Click on “Check Deposit“ from the More menu.
- Select the account you want your check deposited into at the top of the New Deposit screen, add the dollar amount of the check and select “Rollover” as the Contribution type.
- On the back of your check, sign your name and write “For Electronic Deposit only at Merrill”.
- Using the Merrill Lynch app camera, take a photo of the front and back of your check. Be sure to take a clear picture of the check on a dark, flat surface, in a room with good lighting.
- Once the photos of our check are added, hit “Next” and submit the deposit.
See screenshots below
It may take a few days to process your request, so keep your check safe for about a week until you’ve confirmed your check has been successfully deposited.
It’s good practice to write “Mobile deposit” along with the date of deposit on the front of your check.
After the check clears and you see the funds in your account, keep the check in a safe place for a few more days to confirm there were no issues and then destroy it.
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