Taco bell will not take orders or cash

[Doug Garson]

Businesses who receive a lot of checks can scan them themselves and send the file to their bank.

Not limited to businesses, TD bank, and probably most Canadian banks, has an app that allows you to use your phone's camera to deposit checks directly to your account. Not new, I think it is at least 5 years old.

[Bill Howatt]

US banks that have an app can do it too.

[Brian Elfert]

I certainly know about mobile deposits. Businesses that accept a lot of checks it isn't practical to use a mobile device to deposit checks. I am the treasurer of a Boy Scout troop and they have a business account at a bank. The bank won't let me do mobile deposit with the business account because they want our group to pay for one of their other deposit services.

My original post was about how banks deal with checks physically deposited at the bank.

[Jim Becker]

The days of people in rooms just processing checks all day long has been pretty much gone for at least a dozen years. These days banks just scan in checks optically and using OCR they read the account numbers and electronically debit the account at the other bank. Businesses who receive a lot of checks can scan them themselves and send the file to their bank.

Unless it's an unusually large check that's been received, I don't even take checks to the bank to deposit...I do it with the bank's app on my phone. It takes about a minute and doesn't require me to use gasoline and take what is essentially a nearly half-hour trip to make the deposit. (despite the bank being three miles max) That's nice since I don't use cash other than in an "emergency" so I'm not showing up at the ATM very frequently, either. Processing paper checks even at the teller window is also electronic...the teller scans them and the deposit is complete, other than the funds being confirmed in the background.

And yes, I use TDBank since that was just mentioned.

[Curt Harms]

If you want a laugh, hand most young people a check book and ask them to write you a check for some amount.

If you really want a laugh, hand a Super Market checker a check made out for more than the cost of the order to get some cash back. SWMBO used to do that. Everybody in back of her had to wait while the youngster found someone who knew how to process that. She eventually learned to get in lines with checkers that have had a number of birthdays.

[Jim Koepke]

These days banks just scan in checks optically and using OCR they read the account numbers and electronically debit the account at the other bank.

Banks now use MICR (Magnetic Ink Character Reader) on checks.

“Magnetic Ink Character Recognition” (MICR) is a technology that uses a 9-digit code printed at the bottom of a cheque to quickly and accurately identify and process it.

This is the first step in catching a counterfeit check. Most criminals do not have the ability to print magnetic ink codes on the bottom of checks.

jtk

[Greg Funk]

Unless it's an unusually large check that's been received, I don't even take checks to the bank to deposit...I do it with the bank's app on my phone.

You must be used to bigger cheques than me We can deposit up to $500k with mobile banking.

[Jim Becker]

You must be used to bigger cheques than me We can deposit up to $500k with mobile banking.

I "can" deposit large checks using the mobile app. I just choose not to...and they are very rare, too. I'm sorry I was not clear about that.

[Bill Dufour]

Not sure if I posted this before or not but in going over our taxes the IRS warns they will not take a check for over 100 million dollars. I guess they want cash for that large a sum.
Bill D

[Jim Koepke]

Not sure if I posted this before or not but in going over our taxes the IRS warns they will not take a check for over 100 million dollars. I guess they want cash for that large a sum.
Bill D

Or a transfer between banks, like the taxpayers bank wires transfers it to the nearest Federal Reserve Bank.

jtk

[Mike Henderson]

Not sure if I posted this before or not but in going over our taxes the IRS warns they will not take a check for over 100 million dollars. I guess they want cash for that large a sum.
Bill D

They absolutely, positively do not want cash, especially in that amount.

Mike

[Mel Fulks]

Doesn’t matter what they want. By law all USA paper money is “ legal tender “ for all debts public and private” . They don’t just
hire one guard with one bullet in his weapon .

[Mel Fulks]

Edwin, Gov. might be too busy to read their old nutty stuff cuz they would rather make up NEW nutty laws. It’s printed on the money !
So Mel is on the money ! Perhaps Gov. needs to hire a “new rules committee”. There are lots of nutty laws on the books that are not
enforced , quite possible they just enforce them when they need a crime for a chosen criminal. That would mean they just enforce when
“It’s really necessary”….and the GOOD people don’t have to worry…..as long as they “keep their nose clean”. That’s legal talk.

[Bill Dufour]

Al Capone went to Alcatraz for tax evasion and Ponzi went for using the mail.
Bill D

[Doug Garson]

Not sure if I posted this before or not but in going over our taxes the IRS warns they will not take a check for over 100 million dollars. I guess they want cash for that large a sum.
Bill D

If your tax bill is 100 million dollars, you can afford a tax lawyer who will find a loophole that has you paying no tax.