Mobile Check Deposit Banks The Future of Check Deposits

Feb 16, 2023 | Payment Services

Zil is a financial technology company, not a bank or an FDIC member. Zil offers banking services through partnership with FDIC member banks Silicon Valley Bank and Texas National Bank.

With the increasing adoption of technology in all areas of life, the banking industry has also undergone a digital transformation in recent years. One of the most significant changes has been the introduction of mobile check deposit banks, which have made depositing checks more convenient and accessible for customers. Zil’s Mobile Check Deposit feature is a convenient tool for small business owners to deposit their checks using their mobile devices, saving time by making trips to banks. With this feature, simply take a picture of the check and deposit it into your account from your office or store without any need to leave. In addition, our cloud-based platform makes it easy to process your checks, all you have to do is take a photo and upload it to the app, upon adding the funds to the user’s account after verification.

What Is Mobile Check Deposit?

Mobile Check Deposit is a convenient method of depositing checks without having to visit a bank. This can be done using a mobile device, such as a smartphone or tablet, equipped with a camera. The check can be captured as an image and uploaded via the bank’s mobile app, saving time and effort. The deposit is usually processed within a few days.

What Are the Advantages of Mobile Check Deposit?

Advantages of Mobile Check Deposit for Businesses include:

  • Increased efficiency: Mobile check deposit enables businesses to deposit checks quickly and easily, reducing the time and effort required to manage their finances.
  • Increased Flexibility: Mobile check deposit allows businesses to deposit checks from anywhere, anytime, offering increased flexibility and allowing them to manage their finances on the go.
  • Enhanced Security: Mobile check deposit provides an extra layer of security for business finances, as all transactions are encrypted and protected by the bank’s security measures.
  • Reduced Costs: By using mobile check deposits, businesses can reduce their banking costs and the need for physical bank trips, saving time and money.
  • Enhanced Record-Keeping: Mobile check deposit allows businesses to easily track and record their transactions, making financial management and record-keeping more efficient.

Is Mobile Check Deposit Secure?

Mobile check deposit is considered a secure option for depositing checks, and it can even provide added protection against certain forms of fraud. Zil’s mobile app is designed with ease of use, allowing customers to capture images of the front and back of the check and enter the amount to initiate the deposit. The app will then process the deposit, transferring the funds into the customer’s account. Setting up recurring deposits further simplifies the process, eliminating the need for manual check depositing. Zil is a reliable and secure option for depositing checks, especially when customers cannot access a bank or ATM. It’s convenient, secure, and easy to use.

How to Make Mobile Check Deposit with Zil

To make a mobile check deposit using Zil, follow these steps:

  • Step 1:Log in to your Zil account and choose your bank account to deposit the check.
  • Step 2:Once logged in, click the “Receive Payment” button and select “Check Deposit” from the drop-down menu.
  • Step 3:Choose the sender of the check and enter the amount. Then, upload images of the front and back of the check, and click “SUBMIT.
  • Step 4:You will receive a one-time password (OTP) via email. Enter the OTP to complete the deposit process.

After entering the OTP, your check deposit will be complete. However, it may take 3-5 business days for the funds to become available in your account. Additionally, it’s recommended to keep the physical check for seven days after the deposit is made.

Mobile check deposit banks represent the future of check deposit options, and Zil has elevated the experience for you by making the process more convenient and accessible. For businesses, this means quicker access to their funds and a streamlined banking experience that is easier and more accessible than ever before.

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