Labor & Employment Law

The 21st Century Way To Bank - Remote Deposit

By Dobin & Jenks

Our clients like us enough that they occasionally pay our bills. Most of these bills are paid by check. In fact, we receive checks on an almost daily basis, some large and some small. These checks have to get to the bank somehow.

In the old days (as in more than 3 weeks ago), our firm administrator had to go to the back on a regular basis to deposit the checks. We have an ATM card for this, but it was still a pain. We switched banks to Stonegate Bank recently and they provided us with a remote deposit terminal. This is one of the coolest devices I've seen in a while.

The remote deposit terminal is a small desktop scanner that is designed to read the magnetic strip along the bottom of each check. We scan the check and input the amount of the check. The machine places a red logo across the front of the check indicating that it has been electronically processed. And each day we upload the deposit to the bank - no ATMs, no waiting in line.

This technology is an outgrowth of the 9/11 disaster where manual check processing halted because all air travel was suspended. The bankers came up with electronic image processing and this will make our life easier. Check it out for yourself.

That's the view from The Law Planet - Jupiter, Florida.

Full post as published by The Law Planet Blog on November 19, 2007 (boomark / email).