21st Century Banking
(subtitle: “The Times They Are A’Changin”)
I can recall, years ago, getting paid on payday and then driving to the bank and waiting in line to deposit my check. (I can actually remember further back to a time when my part-time check wasn’t worth enough to have a checking account - but that’s ancient history!)
How I hated that part of payday - making the deposit - I liked getting paid! Especially when I worked for the state and everyone used the same credit union. Then, just over 20 years ago, I went to work for a company that had direct deposit. That was the best thing ever, at that point. One gal I worked with wanted to get her check because she liked the thrill of seeing the actual check. That was in Michigan. I told her to be sure and let me know how much fun it was when there was a foot of snow to drive through.
Fast forward to 2007. This year my bank started offering something called “Deposit@Home”. All you need is a computer, a scanner, and a check. You sign the check, scan both sides and then upload. The upload process lets you crop the page and rotate the check. In under 5 minutes, your money is deposited! Now that is cool.
The only hard part is really an adjustment issue. After your check is successfully deposited, you then write void on it and destroy it. Makes sense, but it takes some getting used to.
Now you know why you don’t get real canceled checks from your bank anymore. They don’t exist. I’m quite sure the banks have been doing the same thing for years!
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