• Please be sure to read the rules and adhere to them. Some banned members have complained that they are not spammers. But they spammed us. Some even tried to redirect our members to other forums. Duh. Be smart. Read the rules and adhere to them and we will all get along just fine. Cheers. :beer: Link to the rules: https://www.forumsforums.com/threads/forum-rules-info.2974/

Remote check deposit

DaveNay

Klaatu barada nikto
SUPER Site Supporter
Has anyone used remote check deposit? This is a result of the Check 21 regulations passed a couple years ago, and allows for the legal validity of a scanned check image. I am looking at using DepositNow! Accounts Receivable to process our customers checks. It fully integrates with Quickbooks, and will even match up the customer information on the check with open invoices in QB. The monthly cost is $29.95, with the first 100 checks scanned free, and $0.12 per item after that. There is also a scanner that needs to be purchased or rented. Retail price of the scanner is $225.

So far, it sounds like a very nice method of handling check payments, and will allow me to do about 95% of my banking from the computer, at home at midnight (which is when I usually have time available).

This is an ancillary service, and works with any bank account in the U.S., so it is not tied to a specific bank offering.
 

ghautz

Bronze Member
Site Supporter
Sounds similar to what Wal-Mart started doing in this area a while back. The check is scanned at the time of the transaction. That would eliminate the possibility of receiving a bad check on those transactions and should give you access to the money quicker.

I bet Wal-Mart has negotiated lower fees.
 

Junkman

Extra Super Moderator
Walmart is using the Telecheck system for processing and for check verification services. I have been using the system for about 10 years now, and even though it is expensive, it has removed the bad check issue from out stores. It costs about the same as credit cards. I think that 29.99 is too high for uninsured clearing of checks. For that price, I would still go to the bank and hand deposit them.
 

DaveNay

Klaatu barada nikto
SUPER Site Supporter
Junkman said:
I think that 29.99 is too high for uninsured clearing of checks. For that price, I would still go to the bank and hand deposit them.
I am taking into consideration the fact that we both still work "real" jobs, and have an hour commute each way (both of us). There are times when we have been unable to make it to the bank for two weeks.

What assurances/insurances do you get when hand depositing? This system is not a check clearing house, it simple creates an EFT from the scanned checks, and then transfers that to your bank of choice for processing (I think).

edit: I should make it clear to everyone that the system Junk is using is a POS (Point of Sale) system. What I am looking at is a much simpler service primarily for convenience.
 
Last edited:
Top