Deposit Methods

By; Rodney Hunter

There are several methods for deposit methods and why a customer might choose one method over another is getting broader and broader. It used to be that depositing a check required you to make a special trip to the bank, wait in line, and wait longer for the check to clear. Many new and creative methods are available for depositing any check into your checking or savings account quickly and safely. With some banks, it's even possible to deposit a check with a mobile smartphone. One method would be to visit one of your bank's Automated Teller Machines (ATMs). It's important that you select your own bank's ATM. MosTt ATMs will dispense cash to anyone with a debit card who is willing to pay a fee. But, the ATM will usually accept deposits only from bank members. Credit union members who shared drafting at other locations will have to use an ATM from their particular credit union, not a shared draft union.we believe that having an adequate drive-up window can make all the difference during customer interactions. When you are looking for a drive-up window that offers comfort, efficiency and security, they have the products you need to enjoy greater convenience and improved service at your financial institution. The drive-up windows feature a secure and durable deal drawer that makes the visual, interactive and transaction process go well from start to finish. Thanks to increased security features and durable functionality, your employees and customers or members will feel confident when they arrive at your branch. Another possible way of depositing funds is a night depository. A night depository is a bank drop box where merchants can deposit their daily cash, checks, and credit card slips outside of normal banking hours usually between 9 AM and 5 PM. The bank will collect the deposits and credit them to the merchant's account on the following business day. Night depositories provide additional security for merchants, since they don't have to keep this money at their business location overnight, where it might be vulnerable to theft. Night depositories can lower risk in this regard, So people may like this method of depositing funds a little more. Lets begin with another method of depositing funds into your bank account, now with Mobile Banking. Mobile banking refers to the use of a smartphone or other cellular device to perform online banking tasks while away from your home computer, such as monitoring account balances, transferring funds between accounts, bill payment and locating an ATM. The reason perhaps consumers use mobile banking is a terrific way to efficiently manage the occasional administrative task for consumers, mobile banking is a terrific way to efficiently manage the occasional administrative tasks on the go. For small and mid-size business owners, mobile banking gives the precious gift of time. Closing a sale, meeting new customers or smoothing back office shipping glitches are important revenue producers. A few more methods may encounter this, like transfer of account balances from one account to another, or from payer to recipient made by telephone order, rather than traditional written authorization or instrument. The accounts being debited can be checking, savings, or, if three or fewer telephone transfers per month, money market deposit accounts. Verbal instructions to move funds from one bank account to another, or from one bank to another, by check or electronic transfer, such as a payment over the fed wire network is called a “Telephone Order”. Wire transfer, bank transfer or credit transfer is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account or through a transfer of cash at a cash office. Senders pay for the transaction at the remitting bank and provide the recipient's name, bank account number, and the amount transferred. Personally, this is one of my favorites if you want to do a large transaction. Lastly, Online banking, also known as internet banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. The online banking system will typically connect to or be part of the core banking system operated by a bank and is in contrast to branch banking which was the traditional way customers accessed banking services.Some banks operate as a "direct bank", where they rely completely on internet banking. Internet banking software provides personal and corporate banking services offering features such as viewing account balances, obtaining statements, checking recent transaction and making payments.