Depositing checks by phone

DaddyTorgo · 03-29-2013, 04:43 PM

Welcome to the 21st century DT. Does anybody else do this? What do you do with the actual check after you snap the pictures of the check and send them to the bank?

Does it work well, or does it get fucked up all the time?

*confusion*

cartman · 03-29-2013, 04:48 PM

I've been doing this for a while. After I snap a pic, I'll write 'deposited via phone' on the check, and file it away for shredding.

I haven't had any foul ups with deposits done this way.

henry296 · 03-29-2013, 04:50 PM

Our bank suggests keeping it for two weeks and then shredding it once you confirm it posted. I have had no issues either.

DaddyTorgo · 03-29-2013, 04:55 PM

Weird - I dunno why I'm skeptical that it'll work, but I guess I am. Makes no sense that I'm skeptical, then again I also like to go up to the teller window when I have checks to deposit, rather than use the ATM.

Thanks guys, gonna give it a whirl.

DaddyTorgo · 03-29-2013, 04:58 PM

I mean intellectually I was sure it would be fine, it makes sense and all, and they wouldn't roll it out unless it worked, but it just seems...weird.

JonInMiddleGA · 03-29-2013, 04:59 PM

That's just ... damn.

My nerves simply aren't good enough to try that (even if I had ever heard of it before this thread)

cartman · 03-29-2013, 05:08 PM

The app on the phone is basically doing what the bank is doing when you take a check in. OCRing the ABA/Routing number, account number, and amount.

sabotai · 03-29-2013, 05:09 PM

My nerves aren't good enough to try depositing a check in any way other than walking inside the bank and handing it to the teller in person. Won't even go through the drive through.....usually faster to go inside anyway. No line inside, line of cars outside.

DaddyTorgo · 03-29-2013, 05:18 PM

Quote:

Originally Posted by JonInMiddleGA

That's just ... damn.

My nerves simply aren't good enough to try that (even if I had ever heard of it before this thread)

This has always been my position too, but just figured I'd give it a try on a lark with my latest check from work (easy enough to re-cut another one if it gets screwed up).

DaddyTorgo · 03-29-2013, 05:19 PM

Quote:

Originally Posted by cartman

The app on the phone is basically doing what the bank is doing when you take a check in. OCRing the ABA/Routing number, account number, and amount.

Yeah - which is why like I said, I figured intellectually it ought to be fine and it makes sense and all, it just feels weird to do it.

DaddyTorgo · 03-29-2013, 05:19 PM

Quote:

Originally Posted by sabotai

My nerves aren't good enough to try depositing a check in any way other than walking inside the bank and handing it to the teller in person. Won't even go through the drive through.....usually faster to go inside anyway. No line inside, line of cars outside.

Yep - I was you, up until like a half hour ago.

digamma · 03-29-2013, 07:00 PM

Love it. Incredible convenience.

bhlloy · 03-29-2013, 07:11 PM

The only time I have ever had any issue with a check it was when a teller somehow managed to switch a check for 1000 dollars with a check for 80 dollars and take the large amount from the wrong payee. Took weeks for the bank to rectify that (it was a small shitty credit union tbf)

Seems like technology that reads that information off the check is probably far more reliable than a human. And you get a chance to confirm the information before you submit it. Not seeing the technophobe angle here guys

Logan · 03-29-2013, 07:12 PM

As someone involved in banking from the regulation/supervisory standpoint, it is shocking how much more reliable this method is than handing a check to a teller to be deposited "manually".

Been using it since it's been introduced, no issues.

edit: or what bhilloy said.

DanGarion · 03-29-2013, 07:21 PM

I don't understand the issues people see with it. I mean what terrible thing is going to happen? It's not like the physical check magically disappears and you will never get your money...

QuikSand · 03-29-2013, 07:21 PM

This debate reminds me a bit of the anti-BCS forces who rail against COMPUTERS making the decisions.

*bristles*

I love e-deposit, as I hate walking/driving to a bank branch or even ATM to do anything.

terpkristin · 03-29-2013, 07:26 PM

What an age we live in! My only hangup with this is that so many of the mobile banking apps have been shown to have security issues...I'm not sure I trust them enough yet (or my phone carrier)...

/tk

Suburban Rhythm · 03-29-2013, 07:27 PM

I've used this a handful of times. First time on a check that was a reimbursement from work, $10. Figured if I was going to try it I'd do it on a check that, if there was some sort of issue, I wasn't out a large sum.

I don't normally have a ton of checks to cash though. When I do, usually hit the branch right near me on a Saturday morning. I know a handful of the employees, and my kids get lollipops. Can't do that through an app!

DanGarion · 03-29-2013, 07:39 PM

Soon enough we will be able to make purchases for goods and services via our computer!

sabotai · 03-29-2013, 09:38 PM

Quote:

Originally Posted by QuikSand

I love e-deposit, as I hate walking/driving to a bank branch or even ATM to do anything.

I hate having to go to the ATM too, so until they develop technology that will also give me cash back when I deposit my check through my phone, it defeats the purpose for me. (Not that I even have a smart phone to take advantage of this anyway.)

I use cash as much as possible and my credit card as little as possible. Keeps me more honest with my money. Like I have to justify my purchases more.

stevew · 03-29-2013, 09:42 PM

I'm still trying to wrap my head around the BS that is Saturday morning is Monday business day. And even though I have deposited 100+ contractor settlement checks, they will make me wait an extra business day for it to cash. Deposit Sat, funds available on Tuesday or even on Wednesday when there is the convenience of a Monday banking holiday.

Desnudo · 03-29-2013, 10:54 PM

Where do you get a check from?

DaddyTorgo · 03-29-2013, 11:12 PM

Quote:

Originally Posted by Desnudo

Where do you get a check from?

Desnudo · 03-29-2013, 11:32 PM

Like who gets a paper check? Grandma gifts?

chadritt · 03-29-2013, 11:38 PM

I still get paperchecks every week from work. Im freelance though so its more common with us.

DaddyTorgo · 03-29-2013, 11:45 PM

Quote:

Originally Posted by Desnudo

Like who gets a paper check? Grandma gifts?

I'm a partner in a small business. I get paper checks for my draw out of the corporate account on a monthly basis.

fantom1979 · 03-31-2013, 02:30 AM

My wife and I don't even have the option to get a paper check from work anymore (she works for Home Depot, I work for the federal government). Direct deposit is my only option, while she has the option to receive a pre-paid card or direct deposit.

On topic, I have never cashed a check with my phone, but due to what I just wrote, I don't have much need for it either. I have used the ATM check deposit a few times in the past.

Dutch · 03-31-2013, 08:20 AM

I bank with USAA and since they have very few brick and mortar facilities (and even less when I am overseas) they embraced this technology fairly early.

I would upload personal checks, corporate checks, and later my sons weekly min-wage work check and deposit them from the comfort of my own home. The funds were IMMEDIATELY available even though it wouldn't be processed internally for days or weeks. No spending gas money to drive anywhere first to deposit it, no waiting in a line cars, no standing in line. Awesome convenience.

03-29-2013, 04:48 PM	#2
cartman Death Herald Join Date: Nov 2000 Location: Le stelle la notte sono grandi e luminose nel cuore profondo del Texas	I've been doing this for a while. After I snap a pic, I'll write 'deposited via phone' on the check, and file it away for shredding. I haven't had any foul ups with deposits done this way. __________________ Thinkin' of a master plan 'Cuz ain't nuthin' but sweat inside my hand So I dig into my pocket, all my money is spent So I dig deeper but still comin' up with lint

03-29-2013, 04:50 PM	#3
henry296 College Starter Join Date: Oct 2000 Location: Pittsburgh, PA	Our bank suggests keeping it for two weeks and then shredding it once you confirm it posted. I have had no issues either. __________________ "It's a great day for hockey" - "Badger" Bob Johnson

03-29-2013, 04:59 PM	#6
JonInMiddleGA Hall Of Famer Join Date: Nov 2000 Location: Behind Enemy Lines in Athens, GA	That's just ... damn. My nerves simply aren't good enough to try that (even if I had ever heard of it before this thread) __________________ "I lit another cigarette. Unless I specifically inform you to the contrary, I am always lighting another cigarette." - from a novel by Martin Amis

03-29-2013, 05:08 PM	#7
cartman Death Herald Join Date: Nov 2000 Location: Le stelle la notte sono grandi e luminose nel cuore profondo del Texas	The app on the phone is basically doing what the bank is doing when you take a check in. OCRing the ABA/Routing number, account number, and amount. __________________ Thinkin' of a master plan 'Cuz ain't nuthin' but sweat inside my hand So I dig into my pocket, all my money is spent So I dig deeper but still comin' up with lint

03-29-2013, 07:12 PM	#14
Logan Head Coach Join Date: Oct 2000 Location: NYC	As someone involved in banking from the regulation/supervisory standpoint, it is shocking how much more reliable this method is than handing a check to a teller to be deposited "manually". Been using it since it's been introduced, no issues. edit: or what bhilloy said. Last edited by Logan : 03-29-2013 at 07:13 PM.

03-29-2013, 04:55 PM	#4
DaddyTorgo Hall Of Famer Join Date: Oct 2002 Location: Massachusetts	Weird - I dunno why I'm skeptical that it'll work, but I guess I am. Makes no sense that I'm skeptical, then again I also like to go up to the teller window when I have checks to deposit, rather than use the ATM. Thanks guys, gonna give it a whirl.

03-29-2013, 04:58 PM	#5
DaddyTorgo Hall Of Famer Join Date: Oct 2002 Location: Massachusetts	I mean intellectually I was sure it would be fine, it makes sense and all, and they wouldn't roll it out unless it worked, but it just seems...weird.

03-29-2013, 05:09 PM	#8
sabotai General Manager Join Date: Oct 2000 Location: The Satellite of Love	My nerves aren't good enough to try depositing a check in any way other than walking inside the bank and handing it to the teller in person. Won't even go through the drive through.....usually faster to go inside anyway. No line inside, line of cars outside.

03-29-2013, 07:00 PM	#12
digamma Torchbearer Join Date: Sep 2001 Location: On Lake Harriet	Love it. Incredible convenience.

03-29-2013, 07:11 PM	#13
bhlloy Coordinator Join Date: Nov 2003	The only time I have ever had any issue with a check it was when a teller somehow managed to switch a check for 1000 dollars with a check for 80 dollars and take the large amount from the wrong payee. Took weeks for the bank to rectify that (it was a small shitty credit union tbf) Seems like technology that reads that information off the check is probably far more reliable than a human. And you get a chance to confirm the information before you submit it. Not seeing the technophobe angle here guys

03-29-2013, 07:21 PM	#15
DanGarion Coordinator Join Date: Nov 2003 Location: The Great Northwest	I don't understand the issues people see with it. I mean what terrible thing is going to happen? It's not like the physical check magically disappears and you will never get your money... __________________ Los Angeles Dodgers Check out the FOFC Groups on Facebook! and Reddit! DON'T REPORT ME BRO!

03-29-2013, 07:21 PM	#16
QuikSand lolzcat Join Date: Oct 2000 Location: Annapolis, Md	This debate reminds me a bit of the anti-BCS forces who rail against COMPUTERS making the decisions. bristles I love e-deposit, as I hate walking/driving to a bank branch or even ATM to do anything.

03-29-2013, 07:26 PM	#17
terpkristin Grizzled Veteran Join Date: May 2003 Location: Ashburn, VA	What an age we live in! My only hangup with this is that so many of the mobile banking apps have been shown to have security issues...I'm not sure I trust them enough yet (or my phone carrier)... /tk __________________ GO TERPS! https://www.flickr.com/photos/terpkristin https://twitter.com/terpkristin

03-29-2013, 07:27 PM	#18
Suburban Rhythm Pro Starter Join Date: Jan 2002 Location: Pittsburgh	I've used this a handful of times. First time on a check that was a reimbursement from work, $10. Figured if I was going to try it I'd do it on a check that, if there was some sort of issue, I wasn't out a large sum. I don't normally have a ton of checks to cash though. When I do, usually hit the branch right near me on a Saturday morning. I know a handful of the employees, and my kids get lollipops. Can't do that through an app! __________________ "Do you guys play fast tempos with odd time signatures?" "Yeah" "Cool!!"

03-29-2013, 07:39 PM	#19
DanGarion Coordinator Join Date: Nov 2003 Location: The Great Northwest	Soon enough we will be able to make purchases for goods and services via our computer! __________________ Los Angeles Dodgers Check out the FOFC Groups on Facebook! and Reddit! DON'T REPORT ME BRO!

03-29-2013, 09:42 PM	#21
stevew Hall Of Famer Join Date: Dec 2003 Location: the yo'	I'm still trying to wrap my head around the BS that is Saturday morning is Monday business day. And even though I have deposited 100+ contractor settlement checks, they will make me wait an extra business day for it to cash. Deposit Sat, funds available on Tuesday or even on Wednesday when there is the convenience of a Monday banking holiday.

03-29-2013, 10:54 PM	#22
Desnudo Coordinator Join Date: Jul 2003 Location: Here and There	Where do you get a check from?

03-29-2013, 11:32 PM	#24
Desnudo Coordinator Join Date: Jul 2003 Location: Here and There	Like who gets a paper check? Grandma gifts?

03-29-2013, 11:38 PM	#25
chadritt High School Varsity Join Date: Jul 2002 Location: Los Angeles, CA	I still get paperchecks every week from work. Im freelance though so its more common with us.

03-31-2013, 02:30 AM	#27
fantom1979 College Benchwarmer Join Date: Apr 2008 Location: Sterling Heights, Mi	My wife and I don't even have the option to get a paper check from work anymore (she works for Home Depot, I work for the federal government). Direct deposit is my only option, while she has the option to receive a pre-paid card or direct deposit. On topic, I have never cashed a check with my phone, but due to what I just wrote, I don't have much need for it either. I have used the ATM check deposit a few times in the past.

03-31-2013, 08:20 AM	#28
Dutch "Dutch" Join Date: Oct 2000 Location: Tampa, FL	I bank with USAA and since they have very few brick and mortar facilities (and even less when I am overseas) they embraced this technology fairly early. I would upload personal checks, corporate checks, and later my sons weekly min-wage work check and deposit them from the comfort of my own home. The funds were IMMEDIATELY available even though it wouldn't be processed internally for days or weeks. No spending gas money to drive anywhere first to deposit it, no waiting in a line cars, no standing in line. Awesome convenience.

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