Deposit Checks from Home
High-Tech Electronic Banking Offers Convenience to Consumers
Consumers who bank online can now deposit checks from the comfort of home, with several high-tech electronic banking services.
Remote Deposit Capture for Consumers -from CheckFree, will be available in February 2008. The convenient service allows customers to scan personal checks using home computers, electronically depositing the cash. The new service will be available to customers who bank online, if their bank provides the service.
The simple-to-use service affords banking customers the convenience of banking without having to leave the comfort of home.
How it Works:
- Customer must have account with bank that provides the service
- To begin, simply log onto bank’s website
- Enter the amount of the check
- Scan both sides of check with scanner
- Submit
- Individual banks may have various security measures, possible transaction fees, clearing methods or processing times
The new service provides a win-win situation for both banking institutions as well as the consumer. Banks can reduce costs and resources while customers will save time and money by depositing checks from home.
With this new electronic service, banking has never been easier and more convenient. Remote Desktop Capture, which has been used for several years by the business community, will soon be available for banking and credit union customers in the United States.
There are currently several other similar services in the United States that offer alternatives to "traditional" bank deposit service.
UPost@Home - from Pennsylvania State Employees Credit Union, PSECU, offers a type of electronic service to members. Members include Pennsylvania students, alumni, faculty member or local or state government employees.
- Available to members in good standing
- Deposits up to $1500 are allowed
- Foreign checks, altered checks and incomplete checks are not allowed
- Customers are required to mail deposits in provided pre-addressed envelopes
- Postage is not included
- Customers can view cleared check images online.
USAA Deposit@Home - is another similar electronic banking service available to members. Certain eligibility requirements apply (active or retired military, existing or previous USAA member, children of USAA members, etc).
- To begin, enter the dollar amount from the drop-down box.
- Scan the front of the deposit check
- Sign the back of the check and scan the back
- Confirm
- Wait for confirmation
- Void or destroy the check
- USAA provides stamped envelopes, in case the deposit can not be scanned.
Electronic banking requires a computer with Internet connection and a scanner.
The availability of electronic deposits for banking customers offers ease of use and convenience. With CheckFree’s Remote Deposit Capture and other similar electronic banking alternatives, waiting in lines and ATM fees may become a thing of the past. Customers will save money on expensive gas and cut down on wear-and-tear on the family vehicle. Say goodbye to banking as we know it. Electronic banking offers convenience, peace-of-mind, and time saving benefits for customers.
As electronic banking becomes the norm, what will become of the infamous phrase, “the checks in the mail”?
