Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays.
This is just a quick followup to my recent post about Bank of America’s mobile check deposit service. As I noted in that post, I deposited checks to both Bank of America and ING Direct on Sunday evening.
As they always do, I received an e-mail confirming receipt of the deposit by ING Direct almost immediately. And the very next morning, I had e-mail confirmation that the deposits had been processed along with instructions to go ahead and shred the checks.
As for Bank of America… Nothing. No e-mail confirmation, no permission to shred. Just the original directive to hang onto the checks for 14 days just in case something goes wrong. That said, they did process the deposit the next day, just the same as ING Direct.
So, based on a sample size of one check (for Bank of America; I’ve done lots more with ING Direct) it looks like one service is just as fast and effective as the other. Regardless, I’ll still lean toward ING Direct when I have a paper check that needs to be deposited. That quick confirmation and ability to dispose of the check quickly is just too good to pass up.
What about you? How have your remote deposit experiences been thus far? I’ve heard numerous complaints about rejected check images, etc. (at one bank or another) but I’ve never had a problem. Not even with hand-written checks.
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