Scan it now!

Discussion in 'Business Operations' started by 1MajorTom, Feb 19, 2007.

  1. 1MajorTom

    1MajorTom Senior Moderator
    Posts: 6,073

    Anyone use this?
    I saw this commecial on tv for PNC bank where you can deposit your checks from home without having to go to the bank. Scan the checks from your office, and they are deposited the same day. If I heard correctly, the commercial said, "sign up now and get the scanner for free." I'm sure there is some kind of catch though? We do not have a business account thru PNC though, and really question if it would be worth switching.
    Is anyone using this system "scan it now" as their system for depositing?
    How is it working for you?

    http://www.pnc.com/webapp/unsec/Pro...+Payments/Treasury+Management/Deposit+On-Site
     
  2. lawnguyland

    lawnguyland LawnSite Bronze Member
    Posts: 1,108

    I think I read a thread about this and it does cost $. I personally only need to do deposits once or twice a week and the bank is .5 mile away. Maybe if your bank is far and it takes a lot of time to travel it would be worth it.

    If you go to the bank 2x per week and it takes 20 min round trip then that's 40 min per week times 40 weeks is 1600 minutes/ year or 26.7 hrs.

    It will still take time with the scanner so over the year you might or might not save some time. the key is how much$ and how much time will it take to do the scanning.

    I'd consider it depending on your circumstances. Actually, you try it and let us know!
     
  3. Az Gardener

    Az Gardener LawnSite Gold Member
    Posts: 3,899

    Some of the ATM's here have scanners to deposit your check, it is a pain because you can only scan one check at a time. I would imagine your banks thing is the same one check at time. I don't know if you would save any time at all.
     
  4. HOOLIE

    HOOLIE LawnSite Gold Member
    Posts: 3,981

    I checked into that scanner thru Suntrust...unfortunately you pay a percentage off each check just like with a CC (same rate actually)
     
  5. MowMoney

    MowMoney LawnSite Member
    Posts: 55

    I just prepare the deposit stuff it in an envelope and mail it to the bank. They in turn mail me a deposit slip. Haven't had a problem yet.
     
  6. Tahoe1889

    Tahoe1889 LawnSite Member
    Posts: 125

    I have PNC so I will have to look into this. I heard Sovereign Bank does this too
     
  7. Runner

    Runner LawnSite Fanatic
    Posts: 13,494

    This works out great for retailers that deal with several checks everyday, it would be fine. But for the amount of checks we take in, and the timelines we get them, a trip to the bank every now and then isn't so bad. There is no way I'm going to give up a percentage of my take for the "convenience".
     

Share This Page