How US Bank Mobile Check Deposit Works
US Bank Mobile Check Deposit is a business service offering remote check deposit via a native mobile app that can be downloaded on the users phone. Alternatively, the user can purchase a flat bed scanner independently and use US Bank's online banking portal.
Unlike typical consumer app-based check deposit service, Mobile Check Deposit extends higher daily and weekly deposit limits more suitable to small businesses.
How CheckStream is different from US Bank Mobile Check Deposit
No Deposit Limits - Although US Bank Mobile Check Deposit for business does extend higher deposit limits, there are still deposit limits of $15,000 per day and $30,000 in a given 5 day period. That will still present issues for many businesses that collect more in deposits, especially over a given 5 day period. With CheckStream, there are no deposit limits.
Retain Payment Context - When depositing to US Bank via their mobile app, you only retain the check image. This is generally ok for consumer needs, but most businesses need additional context such as an invoice or payment coupon to help reconcile deposits with their A/R. With CheckStream, each deposit includes any included attachments from the payer including coupons and invoices. Each CheckStream deposit automatically returns a high-resolution PDF scan with full text search enabled.
No Bank Lock - US Bank remote deposit capture solutions all require that the customer maintain a business deposit account to process payments. CheckStream is completely flexible and works with nearly any bank. You can deposit to one or multiple banks, and multiple bank accounts easily - with no additional cost. That means you can switch banks without compromising your remote deposit solution.
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