What About Checks?

Oh the lonely check...

Long since we thought it would go the way of the Dodo Bird, it still has its place in our lives. Still the main thought on most peoples' minds are how they can stream line the process.

I'm glad you stopped by. I can help.

First we should talk about making it easier. Now this mostly depends on how much one's business does in checks. If you do three checks a week, well there is not a lot to do in the first place. However, if you are very check oriented, and you need a way to ease up on the man-hours, then this is what you need: Remote Deposit.

What is Remote Deposit? This is where you get a machine from the bank, hook it up to your computer at the office, and deposit checks written to you from the comfort of your office. generally there are some requirements. The basic is that you either pay the bank $50 monthly or you keep $25,000 in your business' checking account. Doing the latter makes it all free.

I like free.

Now I have been pushing this on people for some time and just now are some of the banks starting to really push it. It saves man-hours as people do not have the added drive to to get to the bank, plus it is safer as there is less chance of getting held up for a bank bag that is all checks anyway. This again though, is why I like smaller banks. Whereas the bigger guys have been holding that secret for special customers for the past couple of years, the small, local banks often encourage it to their clientèle just to get them in the door.

So what do I do with the checks? Keep them... for about 45 days then destroy them. Totally. The real thing to remember here is that this saves time and trips to the bank, it does not, I repeat NOT make the check any safer. I cover that in another article
Safer Checks, Really? It does however add to the bottom line by saving your precious man-hours and having staff do the real work, not the leg work.

Check you later...