Deposit checks from a remote location

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sunnyday
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Deposit checks from a remote location

Post by sunnyday » Tue Dec 06, 2011 2:55 pm

I use a state credit union for my checking account. I'm living out of state for a few months and am wondering what the best way is to deposit checks while I'm away. I could sign and mail the checks to the credit union office, but how should I assure that they get there -- without paying too much (:?

stan1
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Re: Deposit checks from a remote location

Post by stan1 » Tue Dec 06, 2011 3:09 pm

A few credit unions let you deposit a check by scanning it.

Otherwise I just use US mail. Never had a problem in over 30 years of doing so (although these days just about the only checks I receive are class action lawsuit settlements and rebate checks).

Manbaerpig
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Re: Deposit checks from a remote location

Post by Manbaerpig » Tue Dec 06, 2011 3:17 pm

I just use the fidelity app for scanning (both sides) of a check and do it that way, most banks have these now, ymmv

takes maybe 30 seconds on my phone to do it

kaneohe
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Re: Deposit checks from a remote location

Post by kaneohe » Tue Dec 06, 2011 5:01 pm

perhaps ask your credit union......some belong to some network where you can deposit at other credit unions
on the same network. With Alliant Credit Union, I can deposit at some 7-11s as well as some other credit unions.

retiredjg
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Re: Deposit checks from a remote location

Post by retiredjg » Tue Dec 06, 2011 5:08 pm

I haven't seen my credit union since about 1992 (and I hear it took a terrific hit during Katrina!) I deposit personal checks by mail. Payroll and later pension checks by direct deposit. Never a problem. I'd like to try this phone thing though!

sunnyday
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Re: Deposit checks from a remote location

Post by sunnyday » Tue Dec 06, 2011 7:49 pm

Thanks for the replies. I wish my credit union had an iPhone app. However, it's good to hear that plenty of people deposit by mailing the checks so I don't mind doing that.

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kramer
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Re: Deposit checks from a remote location

Post by kramer » Tue Dec 06, 2011 7:57 pm

I have not visited any branch of my 3 banks or my 2 brokerages for over a decade. I have always deposited checks by mail without problems.

But to deposit by mail or scanning, you will have to have the checks physically forwarded to you.

retiredjg
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Re: Deposit checks from a remote location

Post by retiredjg » Tue Dec 06, 2011 8:00 pm

sunnyday wrote:Thanks for the replies. I wish my credit union had an iPhone app. However, it's good to hear that plenty of people deposit by mailing the checks so I don't mind doing that.

I endorse my checks "deposit only" over my signature. Way back when....that's what my mom taught me to do in case the check falls into unintended hands...

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bearwolf
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Re: Deposit checks from a remote location

Post by bearwolf » Tue Dec 06, 2011 8:49 pm

sunnyday wrote:I use a state credit union for my checking account. I'm living out of state for a few months and am wondering what the best way is to deposit checks while I'm away. I could sign and mail the checks to the credit union office, but how should I assure that they get there -- without paying too much (:?

Have you checked to see if there is a Credit Union Service Center near you? I opened an account at Patelco in California and make deposits and withdrawals at my local service center. They are not affiliated with any one credit union and many are members.

BearWolf

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ejvyas
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Re: Deposit checks from a remote location

Post by ejvyas » Tue Dec 06, 2011 8:51 pm

Scan it into Paypal and connect Paypal to your Credit Union bank account.

I remember my credit union used to give me stamped envelopes as well at some point

madbrain
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Re: Deposit checks from a remote location

Post by madbrain » Tue Dec 06, 2011 9:08 pm

sunnyday wrote:Thanks for the replies. I wish my credit union had an iPhone app. However, it's good to hear that plenty of people deposit by mailing the checks so I don't mind doing that.


The Fidelity cash account has no fees. You can do free ACH transfers to your credit unions also and they go through in one day.
Fidelity has an app for iphone and android. I tested the later and it works fine.

I personally much prefer using a scanner as it's far easier to get a good image. With the smart phone you often get an image that's out of focus, with shadow, wrong shape, etc. It takes me more than 30s to shoot both sides of the check with the phone. Not as many financial institutions support scanning deposits, unfortunately. I use Everbank which supports scanner deposits. Scanning checks is probably not a good option while traveling, though.

natureexplorer
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Re: Deposit checks from a remote location

Post by natureexplorer » Tue Dec 06, 2011 11:07 pm

I deposit checks remotely using an Android app. Unfortunately, it has a deposit limit.

I wouldn't trust the mail with big checks, so I see a brick&mortar bank for those.

natureexplorer
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Re: Deposit checks from a remote location

Post by natureexplorer » Tue Dec 06, 2011 11:15 pm

ejvyas wrote:Scan it into Paypal and connect Paypal to your Credit Union bank account.
Good to know that the PayPal app has this option as well. Unfortunately, it looks like it has a $1,000 daily deposit limit.

sscritic
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Re: Deposit checks from a remote location

Post by sscritic » Tue Dec 06, 2011 11:43 pm

I love big banks. I can go to one of the thousands of ATMs all across the country of my big bank and feed the check into the ATM.

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Jay69
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Re: Deposit checks from a remote location

Post by Jay69 » Wed Dec 07, 2011 8:33 am

retiredjg wrote:
sunnyday wrote:Thanks for the replies. I wish my credit union had an iPhone app. However, it's good to hear that plenty of people deposit by mailing the checks so I don't mind doing that.

I endorse my checks "deposit only" over my signature. Way back when....that's what my mom taught me to do in case the check falls into unintended hands...


Always listen to your mother! If sending by mail mark as Deposit Only and use ink thats NOT washable. Dont ask how I know about washable ink!
"Out of clutter, find simplicity” Albert Einstein

Sidney
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Re: Deposit checks from a remote location

Post by Sidney » Wed Dec 07, 2011 9:31 am

USAA. Remote check deposit. Use any ATM in the US for free. No minimum balance. Free checks.
I always wanted to be a procrastinator.

natureexplorer
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Re: Deposit checks from a remote location

Post by natureexplorer » Wed Dec 07, 2011 9:37 am

sscritic wrote:I love big banks. I can go to one of the thousands of ATMs all across the country of my big bank and feed the check into the ATM.
Sounds like a lot of effort having to drive to an ATM, but I guess it is progress over getting out of the car and depositing a check inside a branch during business hours. But then again, checks ought to be a thing of the past anyway.

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prudent
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Re: Deposit checks from a remote location

Post by prudent » Wed Dec 07, 2011 10:26 am

I was happy when my CU instituted scanned check deposits, up until I read through the terms of service and saw that I would be required to store the physical checks for 6 months. I decided it was just easier to use the CU Service Center to deposit the check.

Penguin
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Re: Deposit checks from a remote location

Post by Penguin » Wed Dec 07, 2011 10:30 am

sunnyday wrote:I use a state credit union for my checking account. I'm living out of state for a few months and am wondering what the best way is to deposit checks while I'm away. I could sign and mail the checks to the credit union office, but how should I assure that they get there -- without paying too much (:?

Check this out:
http://www.cuswirl.com/
It is likely that there are several credit unions near where you live that will act for free for all your banking needs on your other account, including deposit checks.
Jon

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dratkinson
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Re: Deposit checks from a remote location

Post by dratkinson » Wed Dec 07, 2011 11:25 am

+1 for the CU Service Center idea.

My local CU teller was able to link into my (now closed) out-of-state CU accounts (WY and MD) to deposit/withdraw funds. It was the next best thing to having a local branch of those out-of-state CUs.

You don't need to look for a stand-alone CU Service Center, as many existing CUs function as such. The functionality seems to be built into the teller's terminal.

Go into any CU and ask the teller if they can access your out-of-state CU account. If they can... great! If not, ask them for the nearest location of a CU that functions as a CU Service Center. Problem solved.
d.r.a, not dr.a. | I'm a novice investor, you are forewarned.

retiredjg
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Re: Deposit checks from a remote location

Post by retiredjg » Wed Dec 07, 2011 11:33 am

This is great information. I looked at my CU website and found a "shared branch" location about 1 mile from my house. (Two actually, but one is inside Walmart and that isn't gonna happen!) They even have a drive through so I can stop mailing my personal checks. :D

Malcolm2012
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Re: Deposit checks from a remote location

Post by Malcolm2012 » Wed Dec 07, 2011 2:57 pm

Sidney wrote:USAA. Remote check deposit. Use any ATM in the US for free. No minimum balance. Free checks.



Also rebate of any overseas ATM fees, and you can deposit your check with your iphone!!!

USAA is the BEST!!!!!!

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interplanetjanet
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Re: Deposit checks from a remote location

Post by interplanetjanet » Wed Dec 07, 2011 3:09 pm

Malcolm2012 wrote:
Sidney wrote:USAA. Remote check deposit. Use any ATM in the US for free. No minimum balance. Free checks.



Also rebate of any overseas ATM fees, and you can deposit your check with your iphone!!!

USAA is the BEST!!!!!!

The catch being that only USAA "full members" can get this feature. Though the general public can use their banking and brokerage services, this feature requires that one be eligible for a USAA insurance product.

That said, USAA does credit mail deposits promptly and supplies free postage-paid envelopes, and in-person deposits are available at many UPS Stores across the USA:

https://www.usaa.com/inet/pages/usaa_easy_deposits_main

Even without the remote deposit feature, they are easily the best bank I have ever used. A situation recently that I thought would be problematic involving a large cash payment to someone (for a used car) was handled with ease and professionalism, and a customer service rep helped me out by showing me how a debit card cash advance could make the process trivial. I don't have loyalty to many corporations, but I trust them to treat me right and that's a rare thing.

I love that they explicitly allow me to do an ACH push to an account not in my name. This is money transfer as it should be. Civilized.

-janet

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ejvyas
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Re: Deposit checks from a remote location

Post by ejvyas » Wed Dec 07, 2011 3:37 pm

Sidney wrote:USAA. Remote check deposit. Use any ATM in the US for free. No minimum balance. Free checks.

Wait!
OP already has an account in credit union so how does USAA help in that case?

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interplanetjanet
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Re: Deposit checks from a remote location

Post by interplanetjanet » Wed Dec 07, 2011 4:22 pm

ejvyas wrote:
Sidney wrote:USAA. Remote check deposit. Use any ATM in the US for free. No minimum balance. Free checks.

Wait!
OP already has an account in credit union so how does USAA help in that case?

Get USAA account, deposit check into USAA account, then do a (free) transfer to the CU account?

If the OP can't qualify for full USAA membership then there are other credit unions or banks that they could do the same with.

-janet

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ejvyas
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Re: Deposit checks from a remote location

Post by ejvyas » Wed Dec 07, 2011 5:03 pm

interplanetjanet wrote:Get USAA account, deposit check into USAA account, then do a (free) transfer to the CU account?


What is that free transfer called? Is it like wire transfer?

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interplanetjanet
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Re: Deposit checks from a remote location

Post by interplanetjanet » Wed Dec 07, 2011 5:08 pm

ejvyas wrote:
interplanetjanet wrote:Get USAA account, deposit check into USAA account, then do a (free) transfer to the CU account?


What is that free transfer called? Is it like wire transfer?

Wire transfers still involve manual processing at the bank level much of the time, and fees can be significant. The usual form of bank transfer between accounts within the USA and Canada is via ACH:

http://en.wikipedia.org/wiki/Automated_Clearing_House

Transfers are generally run nightly, so funds move in batches during non-business hours (wire transfers are real-time, though fund availability may vary depending on the receiving bank). When you pay for something using your routing and account number, an ACH debit is the process that is used (they sometimes call it an "electronic check", to confuse matters further).

Many banks allow you to "pull" funds from other institutions for free, if you give them your account number. Some banks (like USAA) allow you to "push" money to another institution, and they even allow you to push money to other people's accounts if you have their routing and account number (I pay my rent and my ex-spouse this way). The funds clear overnight and with USAA there are no fees. Since there is no minimum account balance or activity requirement with a USAA checking account, you can use it to pass through funds like this for free.

-janet

guitarguy
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Re: Deposit checks from a remote location

Post by guitarguy » Fri Dec 09, 2011 8:52 am

+1 for the iPhone app. I haven't visited my bank to make a deposit in months. So fast, easy, reliable, and convenient.

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vectorizer
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Re: Deposit checks from a remote location

Post by vectorizer » Fri Dec 09, 2011 12:23 pm

My credit union is part of a network that allows deposits and withdrawals at thousands of locations. Maybe yours is too. You can search here: http://www.creditunion.net/

FWIW, now that Ally Bank allows scanned check deposits, that's how I'd do it ... but I assume you're not looking to open another account.

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