Frequently asked questions

Have a question about one of our products or services? We’ve got helpful information for you. If you can’t find exactly what you need, call us at 800-472-5543.

Student loan FAQs

I’m having difficulty with online access

I forgot my username. How can I get it?
If you select forgot username, you can enter either your account number or Social Security number and birthdate to get your username.

I’m having trouble logging in to my account. How do I change my password?
If you’ve already set up security questions, you can reset your password online by answering those questions. If you haven't set up your security questions yet or are having difficulty, call us.

I’m applying or have applied for student loans

I need help understanding the student loan application process.
We’ve got details on what you’ll need to start the loan application process and what we do once we have your application. Learn more about the student loan application process.

What happens after my loan is approved?
There are steps that are taken after your loan is approved. Understand what happens before your loan is disbursed.

I recently submitted documentation for my application, why hasn’t my loan been updated?
It may take 24 hours for documents to come through and for your account to be updated.

I’m a current student loan customer

If I mail in my payment, how do I make sure it goes where I want?
Customers have specific addresses to which payments should be sent. For more information on paying by mail, check the back of your billing statement or ways to make your student loan payments.

My third‐party bill‐pay does not include the correct Sallie Mae payment address. What do I do?
If your bank doesn’t provide the correct address for payment, contact that financial institution for help. In the meantime, consider making an online payment or enrolling in auto debit.

How is my payment applied to my loan?
Payments are applied based on the terms of your Promissory Note. Learn more about allocation and application.

I recently made a major life change (for example: a name change or a Social Security number change). How do I update my account?
Learn more about which life changes affect your account and what you can do.

Was my deferment processed?
You can check the status of your deferment request in the Postpone Payments section of your account.

I’m still in school. Why is my loan(s) in repayment?
There are a few things that affect your loan’s status, such as going back to school after your separation or grace period has expired. Understand how going back to school affects your loan. Remember, if you selected either an interest‐only or fixed repayment option, you’ll make payments while in school.

How do I find out who is servicing my loan?
Learn more about who may be servicing your loan(s).


Savings, CDs, and mobile banking FAQs

These FAQs are for Money Market Accounts, High-Yield Savings Accounts, Certificates of Deposits, and mobile banking. For questions about Upromise GoalSaver Accounts, check out the Upromise GoalSaver Account FAQs.

General account FAQs

Are Sallie Mae Bank accounts FDIC insured?
Yes, our deposit accounts are FDIC insured up to the maximum amount allowed. To learn more about FDIC insurance limits, visit www.fdic.gov.

You can use the FDIC’s Electronic Deposit Insurance Estimator to calculate the insurance coverage for personal accounts.

Also, please note that our deposit accounts are offered through Sallie Mae Bank, Member FDIC.

Are there fees for your accounts?
There are no monthly or annual fees charged for our accounts. There are convenience fees you may incur, but many of them can be avoided. Learn more about fee details and amounts.

What are "micro-deposits" and "linked" accounts?
Your linked account is your bank account with another external financial institution that you "link" to your Sallie Mae account to transfer money between these accounts. This link lets you transfer funds electronically, saving you time and money.

When you open an account, we’ll make two micro-deposits (small deposits) into your external account. We then ask you to sign in to your Sallie Mae Bank account and verify these two small deposits (they’ll be less than $1). This is a security measure to ensure your ownership of the external account. It’s important to remember that you can’t transfer any funds from your Sallie Mae account until you’ve verified your first set of micro-deposits. Also, each time you add a new linked account, we’ll send micro-deposits that you’ll need to verify. Because you’ll need to verify the micro-deposits before you can use your new link, don't delete your old link(s) until your new link is verified. This way you'll still have links to transfer your funds. You need to be an authorized signer on all linked accounts.

What is our routing/ABA number?
Our routing/ABA number for Money Market Accounts, High-Yield Savings Accounts, and Certificates of Deposit is 124385119.

How do you calculate interest on my account and when is it credited to my account?
Interest is calculated the same way for all of our accounts. It’s compounded daily and credited to your account monthly. Interest credits will appear on the first business day of the month following the month they’re earned. (For example, interest earned in April is credited on the first day of May.)

When and how will I receive my statements?
The primary accountholder will receive a statement each month. You’ll be a sent an email telling you when your statement is available for viewing.

Will I receive a 1099-INT?
If you receive any interest as a primary accountholder during the year you’ll get a 1099-INT. If you have other accounts, like a Upromise GoalSaver Account, you’ll receive a separate 1099-INT. 1099-INTs will be available online in late January.

How do I contact you about my Sallie Mae account?
If you need help, call us at 877-346-2756 , Monday through Friday, 8 a.m. – 8 p.m. ET.
Our mailing address is:
Sallie Mae
175 S West Temple, Suite 600
Salt Lake City, UT 84101

How do I set up direct deposits?
Since direct deposits come from different sources, we don’t have a standard form to set this up. Please reach out to the institution who has your funds and ask them for their procedure. They’ll probably need the following information to set it up:

  1. Your Sallie Mae account number
  2. Our routing (ABA) number: 124385119

Can I download past transactions?
Yes. Log in to your account and you can choose how you’d like to download your transactions. Transactions can be downloaded to Microsoft® Money or Excel.

How should I update my address or other personal information?
You can update your personal information online or by phone:

  1. Log in to your account to change your personal information.
  2. Call us at 877-346-2756, Monday through Friday, 8 a.m. – 8 p.m. ET.

If you need to update your name, date of birth, or Social Security number, contact us and provide proof of the correction.

  • Name change: Send a copy of your marriage license, divorce decree, or other court order along with a copy of your driver’s license showing your new name.
  • Birthdate correction: Send a copy of your driver’s license or other state-issued identification.
  • Social Security number correction: Send a copy of your Social Security card.

Make sure you also include a note specifying the reason you’re contacting us.

You can provide proof by scanning and emailing your documents, faxing them, or mailing them to us. For birthdate corrections, we also accept an emailed picture of your license.

  • Send scanned documents and pictures to Sallie_Mae_Deposits@salliemae.com (note that there are underscore characters between the words in the address).
  • Fax documents to 800-627-7532.

Mail documents to Bank Operations, Sallie Mae Bank, 175 S West Temple, Suite 600, Salt Lake City, UT 84101.

What is a Payable on Death account?
A Payable on Death (POD) account, also known as a Totten or informal trust account, is a simple way to disperse assets upon death. Distribution of assets for payees, or people to whom money is paid or will be paid, of POD accounts occurs without going through probate. Also, you may be entitled to additional FDIC insurance coverage for each POD payee.

Tell me about the extra FDIC insurance for Payable on Death accounts.
In many cases, funds in POD accounts are FDIC insured up to $250,000 for each qualified payee. Please go to the FDIC insurance calculator for more information.

How can I make a new account a Payable on Death account?
You can make a new account a Payable on Death (POD) account during the account creation process. You’ll be asked to select your payees. Once they’re selected, your account is a POD account. All payees are assigned equal shares of funds. (For example, if you assign three payees, each will be given a one-third share of the funds in the account.)

Can I make an existing account a Payable on Death account?
You can make an existing account a Payable on Death (POD) account on your account summary page. You’ll be asked to select your payees. Once they’re selected, your account is a POD account. All payees are assigned equal shares of funds in your account. (For example, if you assign three payees, each will be given a one-third share of the funds in the account.)

Can I remove the Payable on Death designation from an account?
Yes. Deleting all payees will remove the Payable on Death designation.

What happens to my Payable on Death account if I die?
If you die, your designated payees receive the equal shares of funds in your account. The assets are transferred without going through probate.

How can I ask for a wire transfer from or to my account?
To request a wire transfer from your account, fill out the Wire Withdrawal Request. We’ll only send wire transfers to your linked accounts (accounts you’ve already established that you own). We also require a copy of your driver’s license or other state-issued identification. After completing the form, submit it along with your identification by scanning the documents and emailing them to Sallie_Mae_Deposits@salliemae.com (note that there are underscore characters between the words in the address), or faxing them to 800-627-7532.
Please submit your wire transfer request by 3 p.m. ET for it to be completed same day.
Note that a wire transfer isn’t the usual transfer that’s set up online—that’s called an ACH transfer. ACH transfers take two to three business days, and are free. A wire transfer moves funds from one bank to another on the same day. Our fee for an outgoing wire transfer is $20. Incoming wire transfers from another bank to Sallie Mae aren’t assessed a fee by Sallie Mae Bank. We won’t initiate international wire transfers.
To send a wire transfer from another bank to your Sallie Mae account, use Sallie Mae Bank’s ABA routing number, 124385119, and your Sallie Mae Bank account number.

Savings FAQs (Money Market and High-Yield Savings Accounts)

Are there fees or charges for Sallie Mae High-Yield Savings and Money Market Accounts?
There are no monthly maintenance fees for these accounts, however there are fees for these additional services.

Excessive transactions fee: Federal regulations limit the number of transfers from High-Yield Savings or Money Market Accounts to six (6) transfers per calendar month. Any transfers over that limit will be assessed a $10.00 excessive transaction fee per transfer. If you repeatedly exceed this limit, we’re required to close your account(s). You aren’t limited to the number of transfers you may make from your High-Yield Savings Account or Money Market Account to repay loans at Sallie Mae. You can make an unlimited amount of deposits into your account in any given calendar month.

Returned deposit fee: There is a $5 fee for all deposits that are returned. This includes all deposits, electronic transfers, and checks, returned due to insufficient funds or funds that aren’t collectable.
If you have a Money Market Account, additional services for checks have the following charges:

  • Check order–standard delivery: $5 if ordered after account opening. Free if ordered at account opening.
  • Check order–expedited delivery: $15 if ordered after account opening. Free if ordered at account opening.
  • Stop payment: $15
  • Insufficient funds: $19. Checks you write on your account that can’t be processed because of insufficient funds will be returned unpaid and your account will be charged $19. If your account balance at the time the check is processed is less than $19, the amount of the charge will be reduced to the amount of your balance, so that your account balance will not fall below $0.

How do I make deposits and withdrawals?
There are four ways you can deposit funds into your Money Market or High-Yield Savings Account:

  1. Sallie Mae e-deposit (also known as remote deposit) lets you conveniently make deposits electronically with your iPhone® or AndroidTM device. We can’t accept some checks via e-deposit, including money orders, third-party checks, foreign checks, and starter checks.
  2. Set up direct deposits.
  3. Transfer funds electronically via ACH transaction. To transfer funds electronically, all you need to do is log in to your account, to transfer money. Transfers set to be processed immediately can’t be canceled, but recurring and future-dated transfers can be canceled.
  4. Deposit a check via mail. You can mail us your check. (Please remember we don’t accept some checks, including third-party checks.)
    Sallie Mae
    P.O. Box 4534
    Carol Stream, IL 60197-4534

We make it very easy to withdraw your money. All you need to do is log in to your account and from there transfer the desired amount to your linked account. Transfers set to be processed immediately can’t be canceled, but recurring and future-dated transfers can be canceled. Please remember that you’re only allowed to withdraw funds six (6) times in any given month and that it can take 2-3 business days for the funds to be posted by the receiving bank.

When do deposits start accruing interest and how long are they on hold?
Interest accrual: Deposits start to accrue interest as soon as they post to your account.

  • For electronic deposits, this is usually two or three business days after the transaction was initiated.
  • For check deposits, this will happen as soon as we get the check and process it.

Hold on deposits: For deposits made in the first 30 days after account opening—whether made by check or electronically—funds will be held for 10 business days, unless a longer hold is required per the verification process. Your funds will also be held until you verify the micro-deposits on your linked account.

  • For deposits made by check or electronically after the first 30 days after account opening, in the amount of $5,000 or less, funds will be held for five business days from the effective date of the deposit.
  • For deposits made by check or electronically after the first 30 days after account opening, in excess of $5,000, funds will be held for 10 business days from the effective date of the deposit.

The effective date of the deposit is the day that your account is credited for that deposit. To the extent permitted by law, Sallie Mae Bank reserves the right to extend these timeframes for certain reasons, including suspicion of fraud. In addition, funds in an account that is being closed may be subject to a brief temporary hold in order to allow outstanding transactions to clear and for any necessary processing procedures to be performed.

How long does it take for a withdrawal or transfer to arrive in my linked account?
Transfers to your linked account will normally arrive 2-3 business days after you schedule your withdrawal.

How do I cancel a transfer?
You can cancel any transfer that has a pending status, including recurring and future-dated transfers. Transfers set for immediate processing when they’re created online can’t be canceled. You can cancel a pending transfer three different ways:

  • log in to your account and select the pending transfers you’d like to cancel.
  • Call us at 877-346-2756, Monday through Friday, 8 a.m. – 8 p.m. ET, at least three business days before the transfer is scheduled to be made.
  • Write to us at 175 S West Temple, Suite 600, Salt Lake City, UT 84101, and include your account number, the exact dollar amount of the transfer, and the transfer date. We need to get your request at least three business days before the payment is scheduled to be made.

Is there a limit to the number of check or other withdrawals I can make from my Money Market or High-Yield Savings Accounts?
Federal regulations limit the number of transfers from High-Yield Savings or Money Market Accounts to six (6) transfers per calendar month. Limited transfers include checks, transfers initiated internally or externally, and any other transaction that reduces the account balance (charges such as those for check orders, stop payments, and insufficient funds don’t count against this limit). Any transfers over that limit will be assessed a $10.00 excessive transaction fee per transfer. If you repeatedly exceed this limit, we’re required to close your account(s). You’re not limited to the number of transfers you may make from your savings account or Money Market Account to repay loans at Sallie Mae. You can make an unlimited amount of deposits into your account in any given calendar month.

How do I order checks for my Money Market Accounts?
You can order checks any time when you log in to your account. Once you confirm your mailing address, we'll send you 25 checks. Your checks will be sequentially numbered from any prior check order. We’ll charge your account $5 for a check order with standard delivery (ten business days), or $15 for expedited delivery (two-three business days). Checks ordered at the time the account is opened are free.

How do I stop payment on a check from my Money Market Account?
If you want to stop payment on a check or on a range of checks, log in to your account and you can choose to stop a payment. As long as the check (or a check within the range) hasn’t already been processed and paid, you can place a stop payment. We’ll charge your account $15 to make a stop payment. The stop payment is permanent and doesn’t expire.

Can I link more than one financial product to my Upromise account?
You can have multiple financial products (eligible 529 college savings plans, student loans, and eligible savings accounts) linked to your Upromise account. Just remember to set the percentage you want to allocate to each financial product. Every product that can be linked is eligible for a Upromise earnings transfer.

What is the 10% Upromise annual match for High-Yield Savings Account (HYSA) customers?
The 10% Upromise match is a retired program, available only to those who linked their High-Yield Savings Account to their Upromise account on or before January 7, 2016 (and subject to other restrictions and requirements).
As of January 1, 2016, the annual match will be 10% of your total Upromise earnings that are swept into your linked High-Yield Savings Account (HYSA) during the calendar year (January 1 through December 31). For example, if in 2016, you have $100 in Upromise earnings that were swept into your HYSA, you’re eligible for a $10 Upromise earnings match for that year. Upromise earnings will post directly into your linked HYSA each February following the calendar year's activity provided that both accounts are in good standing and that all match eligibility criteria have been met. The Upromise annual match will occur once per year. The Upromise annual match may be cancelled or changed at any time without notice.
Please note: Beginning on January 7, 2016, linking to High-Yield Savings Accounts will no longer be available.

Who is eligible for the 10% Upromise annual match?
The 10% benefit is available to High-Yield Savings Account (HYSA) customers who have opened and linked their HYSA to their Upromise account before January 7, 2016, and have met the following eligibility requirements:

  • By January 1 of each year either:
    • Set up an Automatic Savings Plan (“ASP”) with a monthly deposit of $25 and complete all 12 ASP monthly deposits within the calendar year, or
    • Fund your HYSA account with $5,000 or more and maintain an minimum daily balance of $5,000 or more during the calendar year.
  • Once you have met one of the conditions above, Upromise will match 10% of your Upromise earnings swept to your HYSA during each calendar year and the match will be deposited into your HYSA in February of the following calendar year, provided that both accounts are active and in good standing at time of transfer.

When will the 10% Upromise annual match post to my linked High-Yield Savings Account?
The 10% Upromise annual match will post to your linked High-Yield Savings Account during the month of February for the qualifying match of the previous calendar year, provided that both accounts are in good standing and that all match eligibility criteria have been met. For example, if your linked HYSA meets the eligibility requirements for 2016, you’ll receive a match in February of 2017.
For questions about the Upromise match, please contact Upromise Customer Care at 888-434-9111, Monday through Friday, 9 a.m. – 9 p.m. ET.

What is a promotional/bonus rate?
From time to time, we may offer a bonus interest rate and Annual Percentage Yield (APY) on new accounts. Bonus interest rates and APYs are applicable for a limited time period only.

What will my interest rate be after the promotional period ends?
If you have a promotional rate, after the promotional period is over, the interest rate on your account will be the regular interest rate in effect. Learn more about rates and disclosures for:

Does my promotional rate vary with the balance in my account?
If you have a promotional rate, the promotional interest rate doesn’t vary with your account balance. Your account will receive the same interest rate throughout the promotional period.

Certificates of Deposit (CD) FAQs

What happens to my account when my Certificate of Deposit (CD) matures?
Your CD will automatically renew at maturity. Upon maturity, you’ll have a 10 calendar day grace period during which you can withdraw funds from your account without penalty. This grace period begins on the date of maturity.
You may choose to withdraw the funds in your CD at maturity or within the grace period. Notice may be given to us by phone at 877-346-2756 , Monday through Friday, 8 a.m. – 8 p.m. ET.
If you choose not to renew your CD, interest will accrue until the day within the grace period that you withdraw your funds or that we receive notice. Each renewal term will be the same as the original term, beginning on the maturity date. We’ll set the interest rate on your renewing CD at our discretion. To determine your rate on renewal, please check our rate schedule available online at Banking.SallieMae.com.

Will you remind me of the maturity date on my Certificate of Deposit (CD)?
Yes. You’ll receive an email notice from us approximately 30 days before your CD matures.

Can I receive interest disbursements from my Certificate of Deposit (CD)?
Yes. Interest disbursements can be requested monthly, quarterly, yearly, or at maturity. They’ll be sent electronically to the linked account you specify. To set up interest disbursements, please fill out the CD Interest Disbursement Payment form and send it by fax to 800-627-7532 or by mail to Bank Operations, Sallie Mae Bank, 175 S West Temple, Suite 600, Salt Lake City, UT 84101. Make a copy of the form to keep for your records.

Does the Certificate of Deposit (CD) have early termination penalties?
Yes. Our early termination penalties are as follows:

  • If your CD has a term of 12 months or less, the penalty will be equal to 90 days’ simple interest.
  • If your CD has a maturity term greater than 12 months, the penalty will be equal to 180 days’ simple interest.

In certain circumstances, such as the death or incompetence of an account owner, we may waive the early withdrawal penalty.

Mobile banking FAQs for mobile text banking

What is mobile text banking?
Using Short Message Service (SMS), this service lets you retrieve information about your bank accounts from a mobile device using text messaging.

Which accounts can I access with mobile text banking?

  • High-Yield Savings Accounts
  • Money Market Accounts
  • Certificate of Deposit Accounts

How do I enroll in mobile text banking?
You’ll need to log in to your account at Banking.SallieMae.com.

Is there a fee for using mobile banking?
No. We don’t charge a fee for using mobile banking. You may, however, incur normal text or data usage charges from your wireless carrier for the use of text messages or internet browsing on your mobile device. If you don't have one already, please contact your wireless carrier about signing up for a text or data service plan.

What do I need to be eligible to activate mobile text banking?
You’ll need a mobile device that can send and receive text messages for mobile text banking and alerts.

Is mobile text banking secure?
We’re committed to the safety and security of your information. To ensure the security of your account information, a number of security features have been built into our mobile banking services:

  • Registration process: A unique verification code is required to verify your mobile phone number and verify that you’re the one in control of your mobile device. This code associates your mobile phone number with your account.
  • No identifiable information: Texts or alerts from us never include any personally identifiable information, such as your full account number, PIN, email address, or mobile number. Your User ID and password also will never be included.

What happens if I change my mobile device number?
As a security precaution, you won’t be able to get alerts or use mobile text/SMS banking until you log in to your online banking account and update your mobile preferences.

What if I lose or replace my mobile device?
If you lose your mobile device, contact us to suspend your mobile text banking. If you have a new phone, we can help you set up mobile text banking again.

What is our short code?
Our SMS short code is 55269. Short codes are special telephone numbers, usually five or six digits long, which are used to send and receive text messages from mobile phones within the US.

I didn’t receive the verification PIN/My PIN didn’t work. What should I do?
If you haven’t received your verification PIN, make sure your mobile device's phone number is entered correctly. You have the option to resend the PIN to your device. If you still didn’t receive a verification PIN, please contact us at 877-346-2756, Monday through Friday, 8 a.m. – 8 p.m. ET. Please note, when you enroll in mobile banking you’ll only have 15 minutes to enter your verification PIN before it expires. After that time, you’ll need to request a new verification PIN and try again.

What are the text commands I can use for Sallie Mae text banking?
Here’s a complete list of the text commands for our mobile text banking:

  • BAL – Receive account balances. (Note: Available balance for deposit accounts is the balance of funds available for withdrawal or transfer; certain pending transactions, such as deposits on hold, may not be immediately available and wouldn't be included in the available balance.)
  • BAL [nickname] – Receive the balance of the nicknamed account
  • LAST – Returns a list of your most recent transactions posted
  • LAST [nickname] – Returns the most recent transactions for that account
  • TRA [from acct nickname 1] [to acct nickname 2] [amount] – Transfer funds between two accounts
  • TIMEZONE – Change the time zone profile
  • GO – Access mobile web banking via a text message
  • HELP – Returns a list of text commands and the customer service number
  • STOP – Deactivates mobile banking from phone
  • START – Reactivates mobile banking from phone

What is the difference between mobile text alerts and mobile text banking?
Mobile text alerts are automatic notices sent by us directly to your mobile device, which contain important information about your registered account(s). You can choose which alerts you want to activate. Mobile text banking lets you request information such as your account balance and recent transactions on selected accounts at any time from your mobile device when you text commands to us at 55269.

How do I set up customer alerts?
Once you’ve enrolled in mobile banking, you can set up mobile text alerts by visiting the alerts section in mobile banking. The alerts configuration page displays all alerts available for each active and mobile eligible account. We offer the following alerts:

  • Low balance
  • Withdrawal threshold exceeded
  • Daily balance
  • Check cleared
  • Deposit threshold exceeded

Can I specify when my alerts are delivered?
Yes. To specify when alerts are delivered you can set up a “Do Not Disturb (DND)” feature which lets you set times during which our mobile text alerts system won’t send any text message alerts.

How can I stop receiving mobile text alerts?
You can stop alerts by changing your preferences or texting 'STOP' to Sallie Mae (55269). If you decide that you’d like to restart your Sallie Mae mobile banking alerts, just text 'START' to us at (55269).

Mobile banking FAQs for the Sallie Mae Mobile App

How do I get the mobile app?
Download the Sallie Mae App to your smartphone through the Google PlayTM Store or the Apple® App StoreSM.

Which accounts can I access with the mobile app?

  • High-Yield Savings Accounts
  • Money Market Accounts
  • Certificate of Deposit Accounts

Is there a fee for using the mobile app?
No. We don’t charge a fee for using mobile banking. You may, however, incur normal text or data usage charges from your wireless carrier for the use of internet browsing on your mobile device.

Is mobile banking secure?
We’re committed to the safety and security of your information. To ensure the security of your account information, a number of security features have been built into our mobile banking services:

  • Secure login: The mobile app requires secure login for access. No one is able to access your account information without knowing your unique username and password.
  • Data encryption: For your protection, only limited information, such as your account nicknames and balances, is stored on your mobile device. All of your account data resides at Sallie Mae, just as with online banking. All data placed into storage on your mobile is encrypted before it’s stored and it’s only accessible with your PIN. This ensures that if your mobile device is lost or stolen the data stored by the application on your device is unreadable.

What if I lose or replace my mobile device?
If you lose or replace your mobile device, you’ll simply need to re-download the mobile app.

What is Sallie Mae e-deposit?
Sallie Mae e-deposit (also known as remote deposit) lets you conveniently make deposits electronically with your iPhone® or Android Smartphone. To make a deposit, you’ll have to take front and back pictures of the item. Camera and check images are securely processed the same as a paper check. Checks deposited after 3:00 p.m. ET. won’t be processed until the next business day. Standard hold times for check deposits apply.

How do I use e-deposit?
To make a deposit with your iPhone® or Android Smartphone, you must first download our app. Once logged in to your account through the app, you’ll be asked to take front and back pictures of your check. Then you need to choose the account for the deposit and confirm the deposit amount.

Are there any types of checks I can’t deposit through e-deposit?

You can’t deposit

  • Money orders
  • Third-party checks
  • Foreign checks
  • Starter checks

We also can’t accept

  • Checks with obvious alteration to any of the fields on the front of the check or item
  • Checks previously converted to a substitute check
  • Checks that are remotely created
  • Checks not payable in United States currency
  • Traveler's checks or money orders
  • Checks dated more than six months prior to the date of deposit
  • Checks prohibited by our current procedures for Sallie Mae mobile banking or which are otherwise not acceptable under the terms of your account(s). This includes checks which you know or suspect are fraudulent or otherwise not authorized by the owner of the account on which the check is drawn.

What are the guidelines for using e-deposit?
There are a few guidelines to keep in mind when using e-deposit on your iPhone® or Android Smartphone:

  • Make sure you have strong mobile signal strength.
  • When taking pictures of your check, make sure the check is completely within the frame and that the picture isn’t distorted or blurry.
  • Please remember, you can’t deposit checks to a Certificate of Deposit account.

Is e-deposit secure?
Yes, our e-deposit is secure. Our website and application feature multiple layers of security including password protection, internet firewalls, and encryption.

Why is my mobile app 'timing out'?
If your mobile device signal strength is weak, features of our mobile app might time out. Make sure you have strong signal strength when depositing checks with e-deposit.

What happens to my checks after I deposit them?
When a check is deposited with e-deposit, the images of the front and back of the check are processed as if the item were a paper check brought in for deposit. Once your funds are available in your account, mark the physical checks as “Void”, and get rid of them to make sure they’re not re-deposited.

How will I be notified if my e-deposit isn’t accepted?
You’ll receive a message when you submit your check if your e-deposit isn’t accepted. All checks may be subject to further review. If there’s a problem with your e-deposit after you submit it, we’ll notify you by email.
We recommend that you keep all checks you submit for e-deposit until you see the deposit post to your account. Once your funds are available in your account, mark the physical checks as “Void”, and get rid of them to make sure they’re not re-deposited.

Sallie Mae e-deposit limits
Deposits via e-deposit are limited to the following maximums:
E-deposit daily deposit limit ($)

  • Total dollar amount: $5,000.00
  • Total number of deposits: 5 deposits
  • E-deposit weekly deposit limit ($)
  • Total dollar amount: $5,000.00
  • Total number of deposits: 5 deposits
  • E-deposit monthly deposit limit ($)
  • Total dollar amount: $20,000.00
  • Total number of deposits: 10 deposits