Where can I Deposit a Check Online?
You have a stack of paper checks sitting on your desk, and you want to find a service to deposit them online. You’re wondering where to do it, though. Are there specific services you must use, or can you deposit the checks directly through your bank?
In short, if you’re asking, “Where can I deposit checks online?” or “What’s the best way to accept eChecks?” you’re not alone.
This blog will discuss where business owners can deposit checks online and how to streamline the process.
Why Deposit Checks Online?
The biggest reason people choose to deposit checks electronically is convenience.
For business owners, it might come down to wanting to avoid routine trips to the bank. But some businesses, especially those in high-risk and hard-to-place industries, may feel like they are left with no other option. Commonly, these businesses also struggle to find payment processing services that will support them.
For individuals using fintech banks without physical locations, there might not be a place to deposit paper checks locally.
Sometimes, depositing checks online is also faster and more secure than depositing paper checks. Electronic deposits are credited quickly, and it’s easy to deposit a check from anywhere you may be.
2 Places to Deposit Checks Online
Not sure where to deposit checks online? Generally, you have two main options: your bank’s mobile app or an eCheck processing service like Seamless Chex.
Here’s a breakdown of each:
Option 1: Deposit Checks Online via Your Bank’s Mobile Banking App
Your first option is to deposit checks electronically via your bank’s mobile banking app. This avenue is best suited to individuals since it’s time-consuming and can be frustrating for (or unavailable to) businesses.
Here’s a quick breakdown of how the process works:
- Open your banking app and locate the mobile deposit feature.
- Endorse the back of the check and add the name of the banking institution, if required (look for a box that says “check here for mobile deposit” and a line to write the name of your financial institution).
- Using the app, take a photo of the front and back of the check.
- Specify the deposit amount and deposit account.
- Click deposit!
While depositing checks via your mobile banking app is convenient, there are a few drawbacks.
Firstly, you can only deposit one check at a time.
Secondly, the check funds usually take 3-5 days to hit your account.
Finally, this option is best suited for individuals and isn’t ideal for high-volume businesses.
Option 2: Deposit Checks via Seamless Chex eCheck Service
Another way to deposit a check online is to accept eChecks using Seamless Chex’s eCheck service. Ideal for businesses, our eCheck service offers same-day setup, same or next-day deposits, no reserve, and no transaction limit.
It also allows you to create recurring billing and email invoicing options to streamline your operations, store your customer’s payment methods, and bill bank accounts with a routing/account number.
Here’s how it works:
- Input information. The first step is to capture customer bank information, including name, routing and account numbers, and payment amount.
- Instant verification. Next, our eCheck platform will verify the payment instantly, which decreases the risk of bounced checks and makes it easier to deposit checks online.
- Funds are deposited. Finally, the funds are deposited into your bank account. This service is quicker than online check deposit via mobile banking, and easier for businesses.
Are you wondering if you should be using Seamless Chex? This service is ideal for high-risk or hard-to-place merchants and provides the same security you’d expect from your bank.
Simplify your Life: Deposit Checks Online
Stop making those time-consuming, repetitive runs to the bank or struggling to find a merchant account or payment processing service that actually supports your business.
Take back your schedule, scale your business, and streamline your workday by depositing checks online.
Ready to learn more about our eCheck deposit services? Contact us now.