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Regardless of your age or profession, when your finances are in order, you feel more relaxed and organized. Being able to deposit your hard-earned money quickly and conveniently can increase your sense of financial stability. As online banking and remote depositing become more ubiquitous, you can often manage your money without having to leave your office or couch. Consider how remote depositing can simplify your life and finances with the information below.

What Is Remote Depositing?

online bankingRemote depositing is a process that enables an individual, business, or other organization to deposit a check or other bank account information by taking a photo of it and uploading it online. This feature is particularly helpful for business owners that use online banking and need to deposit multiple checks at once and don’t always the time to visit the bank.

How Does Remote Depositing Work?

The exact process of remote depositing depends on your bank. But generally, after receiving a check, you can simply log into your bank’s mobile app or website and scan or photograph your check. The bank then accepts the image of the check, turns the image into a substitute check, and records it in your account. Finally, the deposit is given an availability schedule, which determines when the funds can be used.

How Can I Set Up Remote Depositing for My Accounts?

Your accounts must be with a depository bank that is also a remote deposit capture service provider. Most major banks fall into those categories.

If you own a larger business or organization, you should also have a remote deposit capture scanner that enables you to upload the physical checks and turn them into virtual files that can be sent to the bank for processing. If you have a small business or are an individual who doesn’t receive multiple checks, then it’s more convenient to utilize the mobile remote depositing feature through your bank’s mobile application. 

 

First & Peoples Bank and Trust Company in Russell, KY, is one of the last community banks in the area and is in the process of integrating remote depositing capabilities into their banking features. In addition to online banking, they’ve also offered a wide variety of services, including business and personal loans as well as financial planning, to working individuals in Greenup County since 1932. Give them a call at (606) 836-0211 or visit their website to get directions to one of their six branches and to learn more about their banking options.

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