You can now deposit checks electronically with Ally
A new feature from Ally Bank makes online banking more convenient than ever.
It’s called eCheck Deposit, and it allows you to deposit checks to your account without leaving the house.
Previously, account holders had to submit checks for deposit by mail, which required a trip to the post office and several extra days of waiting before checks would post to an account. ECheck Deposit is more convenient and puts money in your account faster.
The company began rolling out the service in April and recently made it available to all customers.
To use the service, simply endorse the check by signing it, writing “For Ally eCheck deposit only,” and writing your Ally account number.
Then scan the check front and back, log in to your Ally account and upload the scanned check images. Your deposit will be processed the same or next business day.
Ally recommends deleting the check images from your computer after submitting them and shredding the paper checks after 60 days.
For those who don’t already bank with Ally, a switch would mean eliminating trips to the bank to deposit checks. Other benefits of banking with Ally include free checking, ATM fee reimbursement and competitive interest rates.
To avoid any problems with the service, it’s important to crop your scanned check images correctly. This means submitting an image of the entire check, with no part cut off. It also means making sure there is no extra space around the check.
Using eCheck deposit is optional, so if you find it cumbersome or time-consuming, you can still deposit checks by mail.
Unlike Chase and USAA, Ally does not yet have a mobile app for submitting checks. Chase QuickDeposit and USAA Deposit@Mobile let customers photograph the front and back of the check and email it to the bank for deposit.
Ally says it will roll out mobile banking in 2012 but hasn’t yet announced a release date.