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Your Take: Remote Deposit – Online Scanned Check Deposits

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Years ago, I remember learning that USAA Bank offered this fantastic new service where you could scan and deposit a check electronically. No more trips to the bank, waiting in line for the ATM or a teller, and basically cutting out one of those annoying hassles. There was always direct deposit for regular payments like paychecks, but nothing was available for the random checks you get. We have the Check 21 Act to thank for that, because it made it legal for banks to use the image of a check for the purposes of transferring funds.

The net result of this should be a boon for online banks with checking accounts, like Ally Bank and ING Direct. For years, one of the biggest knocks against online banks was with check deposits. You only use an online bank for checking, you almost always had to have a local brick and mortar bank intermediary to process your checks. As remote deposit becomes more widespread (ING Direct is supposed to roll it out soon – like July 4th soon), we can probably expect all the online banks to have it.

Would you use remote deposit and would that push you to close your brick and mortar checking account?

{ 33 comments, please add your thoughts now! }

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33 Responses to “Your Take: Remote Deposit – Online Scanned Check Deposits”

  1. NoNonsenseNick says:

    I can’t wait for this to go into full effect for ING but I will always have at least one brick and mortar bank. This in part is because I have a fear of leaving all my money to one bank, but thats another story.

    BoA ATM Check Deposit works great, even tho I was at first hesitant.

  2. cubiclegeoff says:

    I’ve used USAA for over a decade and because they really don’t have many bank branches, and none on the east coast, I’ve always sent checks in by mail. Then when we could scan checks, it was even better and faster. Now depositing checks with my phone makes it even easier, I don’t even need to turn on my computer. It’s been a long time since I’ve actually gone into a bank, or used an ATM to deposit, and I’m happy about that.

    • Frugal says:

      “Now depositing checks with my phone makes it even easier, I don’t even need to turn on my computer”

      This is new to this brick & mortar bank customer. Don’t get me wrong. I use ING DIrect and a lot of ACH/EFT, but also stay with a local brick & mortar bank.

  3. daenyll says:

    definitely looking forward to this from ING

  4. Anonymous says:

    I agree. I think this is a great things for banks (especially online banks) to do, but I am still very hesitant to close my brick and mortar account, even though I can’t logically convince myself why I need it.

  5. mannymacho says:

    I agree. I think this is a great thing for banks (especially online banks) to do, but I am very hesitant to close my brick and mortar bank, even though I can’t logically convince myself why I need the account…

  6. philip says:

    I am a big fan of this… and I hardly use a brick and mortar as it is. The one holdback still is I use ING and I can not write a personal check out to pay for some one time occurrences. Usually I can get by with the only person to person payment or the mailing a check, but sometimes I just need paper checks! It cost me extra the other day because I had to send a payment along with other documents to county office, ended up going and getting a money order, which was a pain and cost me money.

    • Erin says:

      If you click on your checking account in ING and then Account Maintenence, there is now a place to order paper checks for those random times!

  7. BrotherSharp says:

    I’ve also used USAA for over a decade, and I love the ability to deposit checks over the phone. I still keep an account at a credit union, but I haven’t visited in over two years.

  8. zapeta says:

    I’m looking forward to ING rolling out a way to deposit scanned checks. We have a B&M bank but its not our primary account so it will be a lot easier to just scan checks in rather than depositing them and taking the time to move the money.

  9. Marcie F says:

    I find it really troubling to have a picture of my check out there in the interweb. Love the convenience, hate the technology.

    • cubiclegeoff says:

      Whether you did it or not, a scan of your check goes out there, so you don’t have a choice.

  10. Travis says:

    This will be a wonderful feature to add to these online banks. However, I am currently using them 100% right now. I RARELY get a check. My work direct deposits into my bank. If I get a check I just pop it in the mail and its deposited usually within a week. However, I haven’t had to do this in at least 4 months 🙂

    It will be a nice added convenience, but I would really love to see the statistics on its use. I understand businesses may receive checks but I don’t know how much an individual will benefit.

  11. Annie says:

    Our company does it now. We scan the checks received and they are processed. Support staff don’t have to leave the office to bank the deposits. It saves time and manpower. We have not had a problem since staring this 6 months ago.

  12. STRONGside says:

    I would definitely use it. Bank of America has the ATM that will allow you to deposit checks at their ATM branch, but I would love to see this with ING.

    Off topic a bit, but does anyone know of any way around the maximum number of withdrawals from a savings account that you can make each month? I am about to run into my max from my ING account. I have several sub-accounts through ING, and I make consistent withdrawals. I would hate to run over my max number of monthly withdrawals and have to close my ING account.

  13. michael says:

    i sure wish ally had this. i have a lot of trust in the post office but i still get a bit nervous mailing a check in.

  14. Guy In San Antonio says:

    I have USAA and it works really well. I also can make deposits with my iphone!My credit union also offers it now and for those of you in Texas, Frost Bank is offering this soon, i believe before year end.

    I work in this area and somewhere along the path your checks are converted to digital images anyway so we may as well do it now!

    By the way, I have NEVER been into the lobby at USAA and I live a few miles away.

  15. I think this is awesome! Cannot wait. Gonna have to buy a scanner!

  16. Christine says:

    I have a checking account with PSECU and they allow online deposits. I simply enter the check detail, it is credited immediately to my account and I drop the check in the mail with the envelopes they provide. They have no B & M banks. I wish my college age daughter could use them but as a waitress she must make cash deposits, no convenient way to do that except at the B&M’s.

  17. Marilyn says:

    Sadly, when I signed up for USAA, they only allowed military and former military members to scan. To my knowledge, they have not changed the policy. So I still mail in my deposits. Ally claimed to me recently that they are working on the same thing but with Ally, I believe it when I see it functioning. Come on USAA, extend scan deposits to all of us!

    • cubiclegeoff says:

      I’m not in the military or have ever been (I got into USAA through my parents), and I can deposit with a scanner or with my phone.

  18. govenar says:

    I get checks so infrequently that this isn’t that big of a deal for me. Instead of getting a paper check and then scanning it, just have the payer send it to you electronically to begin with. (I realize that there’s some things where people have no choice other than getting a paper check, but those cases will probably get less frequent in the future.)

  19. Shirley says:

    While I applaud the advances in this technology and the convenience it affords, I don’t see myself needing or using it at this time.

    1. We have accounts at our local CU and at ING Direct. Moving money between them is a matter of a few clicks and it is free.

    2. I use online bill pay with both of them but I do write 8 to 10 paper checks per year and so the CU account is nearly a must.

    3. My husband gladly takes any paper checks that we receive to the CU for deposit because after living in a small town for many years, he will definitely run into at least one acquaintance and have a friendly visit.

    4. Our monthly SS and retirement checks are direct deposited to our CU checking account. Dealing with Social Security to change that, and the probable time lapse that would occur, would be more of a hassle than I am willing to face.

  20. Keter says:

    My credit union has had online deposits for a couple of years now and I love it. The closest branch is about 11 miles away, so this is a great saver for me. I can also deposit by taking a picture with my cell phone, but I haven’t needed to do that yet. I visit a branch only when I need customized service, a bank check created, or a problem resolved; most other things I can do for myself online or on the phone.

  21. skolvikes says:

    We also have USAA and love this feature. It just works. I think you have to have a high credit rating to qualify but the funds are available immediately. You can also deposit checks by taking a picture of them with your iphone! This works even better than the scan feature and is awesome if you are traveling. In my view this removes the final obstacle to having an online only bank. (although I maintain a small savings account in a local credit union to deposit cash)

  22. Jacqui says:

    I used the Ally scan & deposit feature last week. You need a decent scanner and secure internet for it to be a viable option, but it worked great. Money showed in the account the next day (I did this at night) just like they said it would. Even got an email confirmation that it had been processed. The system walks you through the steps, shows you previews, and lets you crop/flip your scans as needed to make sure everything works.

    Already had interest checking (with a free, real checkbook) & ATM fee reimbursements. Now they’re even better 🙂

  23. I use PNC Virtual Wallet and absolutely LOVE the remote check deposit feature. I have no need to go to a branch now, and I can make deposits at night or on weekends. I don’t use checks very often, but it’s nice to know I have a way to deal with them when my parents or grandparents write me one.

    I have an ING account that has been dormant, mostly because it’s such a hassle to deposit money. Now I’ll be able to write myself a check from my PNC account and deposit from my phone. Love it!

  24. Bentley says:

    Conestoga Bank, a community bank in Philly and surrounding burbs, has had this for quite a while for the iphone and blackberry. I’m not sure how often average people get checks (I don’t get checks from grandmom anymore) but I have a few rental units and it’s been great for depositing those checks. They are releasing the android version any day now, which is beneficial for me as that is what my wife uses and I will most likely be switching to.

    I have an emigrant direct, hsbc, and fnbo but I definitely like having a brick and mortar bank since I have a biz acct and many escrow accts (again for tenants) and if there is ever an issue I can contact the local people whom I know and who know me. A bit nicer than calling a random csr.

    That being said I foresee tellers and the standard bank branch going the way of toll booth workers and switchboard operators.

  25. gina says:

    PNC only offers remote deposit for business customers…unless virtual wallet is different.

    I use CU and LOVE LOVE LOVE the remote deposit. It is for this reason my savings account balance keeps growing. All the tiny little checks received here and there go directly to that account.

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