The Download on the Upload

a down and up arrow for mobile check deposit post

Managing money on the move with my bank’s app that offers mobile check deposit is a staggering time-saving option!  Read on the find out the ups, downs, and all-arounds of my experience with this techie product offering.

The Ups

What initially got me turned on to this idea of mobile check deposit was to eliminate the walking commute during workdays or the driving commute on weekends to the local bank teller/ATM to deposit a check into my account.  Each visit roundtrip probably cost me 20 minutes – time I could have better purposed on many things.  Once I got the hang of it scanning in my checks to my account, depositing a check took me only 20 seconds to sign, seal, and deliver! This is pretty much due to the advancement of auto-capture functionality, instantly obtaining a usable image by just hovering over the check with your phone.

The Downs

To begin, there was a bit of set-up time to obtain my bank’s app, to authenticate my account, and to try it out for the first time.  All in, I bet this was 20 minutes (the time otherwise spent status quo in physically going to the bank – not a bad proposition). Additionally, one pet peeve of mine is having to write “For Deposit Only” under the check signature line; this seems arbitrary and unnecessary, yet a must-do for compliance. Lastly,  I do have the lingering concern about what to do with the hardcopy of the checks I’m depositing.  Instead of shredding them, I just keep them filed in a legal-sized envelope and put them in my year-end tax file just in case there is ever a discrepancy to manage.

The All-Arounds

This time last year I was unprivy to the idea of mobile check deposits. In contrast, I have now successfully deposited 47 checks using this method, equating to a total estimated time savings of nearly 16 hours of repurposed time.  Ca-ching!  Now that we are in the tech age, I hope my testi"money" encourages you to seek out a similar solution that your bank might offer so you can start spending your time in more efficient ways!

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