Tuesday, March 26, 2013

Remote Check Deposit

Between the collection of rent checks and reimbursements from work, I can find myself at the Wells Fargo ATM depositing checks multiple times in one week.  While I'm happy to have the money, each of those trips to the ATM takes at least 15 minutes.  And, for some reason my local ATM seems to be out of order on a regular basis so at least one in ten trips requires a second trip to the next ATM.

I just recently learned, while I was at the ATM on Saturday, that Wells Fargo now has smartphone deposits.     I already had the Wells Fargo app for my iPhone so it was easy to simply click on a tab on the app to add remote deposits to my available services.  One of the helpful Wells Fargo bankers walked me through how it works and the process is super easy.  You simply sign into your account on your iPhone, you select mobile deposit from the menu options, take a photo of the front of the check and then the bank, select the account where you want the money to go, type in the amount and deposit the check.  Then you hold onto the check for fourteen days and then destroy it.

I'm very excited about this new option and I think its going to save me at least an hour of time a month.

1 comment:

Beth said...

Hi Sam,

It is a great feature. I too have a lot of monthly deposits and this has really been a timesaver. I am a BofA customer and I don't know if this will be the same for you but if the deposit doesn't go through right away, wait a few minutes and try again. Also, for some reason the weekend deposits are rejected more often. So, now I just deposit during bank hours and have no problems at all. Love it!!
Signed....a big fan of your blog. Beth