Discover How Your Business Can Solve Time Spent Depositing Cheques

    Dec 03 2014

    Topics: Depositing Cheques

    As a business owner, you take on several jobs at once, multitasking and trying to manage your time as best you can. You are in charge of the accounting: making sure the books are balanced and your money is deposited on a regular basis. But the last thing you want to do once your hard day’s work is over is spend more time commuting to the bank—especially if your business is in a rural area or a long distance away from your financial institution—just to have to wait in line to deposit your business cheques. It’s time consuming and a hassle.

    Sure, it seems like depositing cheques is a necessary task—you do want to get paid, after all—but in this age of technology, you can skip these regular trips to the bank all together and save yourself some valuable time, while still getting paid.

    The Power of Cheque Imaging

    With cheque imaging, something called cheque validation or cheque capture, you can now deposit your cheques virtually, without having to leave your office.

    Each bank may have a slightly different system, but here is how cheque imaging works. First, you download a mobile app or software that is compatible with your financial institution’s system. Next, you take a digital photo of your cheque either via your phone or a via desktop cheque scanner and transmit it securely to your bank, where the money is then deposited into your account. It’s just that easy.

    It’s Safe and Reliable

    Sounds risky? Not at all. Digital cheques have as much legal standing as do paper cheques. And these cheque scanners and mobile apps are designed to be secure and reliable. You can trust that your information will be safe, and that the technology used will ensure that the process is accurate and reliable.

    It’s Instant

    An additional benefit is that depositing your cheques is now instant with this technology. You don’t have to worry about physically losing the cheque before you have time to travel to the bank. And because you can deposit the cheque as soon as you receive it—eliminating the delay between receiving your cheque and depositing it—your money will be in your account sooner.

    It’s Convenient

    Depositing cheques on your bank’s schedule can be difficult. Most banks are only open from 9 am to 5 pm, and so is your business—so when can you find the time to make it to the bank while it’s open? You might have to close your doors to run to the bank, which might lead to lost business during that time.

    Cheque imaging services are available 24 hours a day, 7 days a week, which means that you can deposit cheques whenever you have a spare minute. For businesses that frequently receive a lot of cheques, you could be spending a lot of time running to the bank on a weekly basis. Your operational costs will increase with every extra minute you spend on this task. With cheque imaging, the process will now only take you a few moments. There’s no additional time wasted driving or waiting in line.

    Get On Board with Cheque Imaging

    With cheque imaging, depositing cheques has never been easier, faster, or more convenient. You can deposit cheques with just a few clicks of a button, anywhere, anytime. You’ll have fast access to your money, giving you cash flexibility when you need it. Best of all, you will save time, which equates to you saving money. The financial world is evolving with new technologies. As a business owner, you should get on board in order to make your job simpler and more efficient.

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    Andrea Lombardi

    Andrea Lombardi

    Andrea joined the CashTech team upon its inception in 2003. Learning the business from the ground up, she now utilizes her expertise in account management, planning, and negotiation while managing the daily operations of CashTech’s sales, marketing, and logistics departments. Andrea holds a bachelor’s degree from the University of Western Ontario. She enjoys travelling and has a passion for personal fitness, including obtaining her kettlebell certification. Andrea lives in Toronto with her husband and two young sons.

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    CashTech Currency Products Inc.
    1040 Cardiff Boulevard
    Mississauga ON, L5S 1P3