SCAN CHECKS FROM HOME
Soon you will be able to deposit checks by scanning them at home and sending them electronically to your bank. No need to visit a branch or an ATM. This is possible because of the Check Clearing for 21st Century Act which allows banks to exchange electronic images of checks. About half of all checks today are scanned by businesses or the banks they are deposited into and not physically shipped to the banks on which they were drawn. Transaction services company Fiserv has announced new software that will enable banks to let home users deposit checks by scanning them similar to many businesses. Consumers would sign onto their bank’s Web site, activate the software, type in the amount, and then scan the front and back side of each check they want to deposit. Some banks may charge an extra fee for this service.
(Source: New York Times, 2/8/08)