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Your Take: Remote Deposit – Online Scanned Check Deposits

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 [3] 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 [4] 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 [5] – 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?