Mobile remote check deposit is a cost-effective and efficient alternative to traditional deposits
Mobile remote check deposit is a great time-saving feature for businesses. It’s the ability to remotely deposit checks. Mobile deposit gives you that increased flexibility in account management and processing. It’ll help increase cash flow by helping you stay on track of your check deposits.
No additional hardware is required for remote deposit. Most business banks offer this feature along with their online tools. At JMB, we offer mobile remote check deposit and a host of other financial tools and technology.
Top 5 Benefits of Mobile Remote Check Deposit
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- Greater Flexibility: You’ll have the flexibility of not having the service tied to a dedicated workstation, as is the case with a traditional remote scanner. Plus, most banks offer this service at no additional cost.
- Ideal for Small Businesses: Businesses with a lower volume of check deposits can benefit greatly by saving money on remote deposit services for high-volume accounts. Make sure to identify the checks that have already been scanned in order to avoid a bounced check fee for re-depositing.
- Accessibility: Your checks are scanned and archived into an online database that makes it easy for you to access your previous deposits for reference and/or accounting purposes.
- Funds Availability: You’ll have access to your funds much faster with mobile remote deposit than through a traditional deposit.
- Efficiency: You can increase your operational efficiency by having your checks deposited remotely since you won’t have to take daily trips to a local brick and mortar. Simply scan and deposit from the comfort of your office.
Learn more about the business solutions that John Marshall Bank can offer by reaching out to one of our expert bankers today.
Safety Measures To Consider
Mobile remote check deposit is great for busy startups or businesses. But it does require due diligence on behalf of the user. It’s your responsibility to make sure you’re keeping your deposited checks somewhere safe.
For example, if you make a mobile check deposit while you are out of the office, don’t leave it lying around for everyone to see! Thieves can easily steal the check or the information on it, such as names, routing number, etc. Make sure to contact the authorities right away and file a report with the FTC if you experience check fraud.
Also, keep in mind that although the mobile deposit is instant, the allocation of funds isn’t. Keep your check with you and follow up with your bank to ensure the check was deposited. It might be rejected because the picture is blurry and the app wasn’t able to scan the information properly.
If this is the case, you can easily re-take a picture of the check. Pay careful attention to your account after making a mobile remote check deposit. Don’t assume the funds have been deposited without verifying with your bank. If they haven’t, this can lead to an unnecessary loss.