Instant online check cashing used to be a tedious process, requiring a trip to the bank during business hours, waiting in line, and filling out deposit slips. However, thanks to technological advancements, it is now possible to deposit checks online. Online check deposit offers a convenient and secure way to deposit funds without leaving your home or office. Zil, a cloud-based FDIC-insured bank provides these features, thanks to Zil, you can do instant online check cashing from the comfort of your home or office.
Different Methods to Deposit a Check
There are several ways to deposit your check. You can go to the bank and do it in person. This is the old-fashioned way to do it, and it’s very simple. Just follow these three steps:
- Deposit Check through Bank.
- Deposit Check through ATM.
- Deposit Check through Online.
How Long Does a Check Take to Deposit?
The funds from an online check deposit may take some time to become available. This is because the bank must first approve the check. This process usually takes a few days because the bank needs to confirm the availability of the funds with the issuing bank. Then, the funds will be added to your account and made available for withdrawal once verified. The entire process usually takes 3-5 business days. However, if there are any delays, it may take longer. As a result, if you need money right away, it is best to cash the check in person.
Benefits of Instant Online Check Cashing
- Convenience: With online check deposit, you can deposit checks from anywhere, anytime. You don’t have to travel to the bank or wait in line during business hours.
- Faster access to funds: Online check deposit usually results in faster access to funds than traditional check deposit methods. Once the deposit is accepted, the funds are credited to your account, and you can use the funds immediately.
- Secure: Online check deposit is a secure way to deposit funds. The process is encrypted, and your bank’s mobile app or website is protected by multiple layers of security.
- Saves time: Online check deposit saves time and is a more efficient way to deposit checks. You don’t have to spend time filling out deposit slips or waiting in line at the bank.
- 24/7 availability: Online check deposit is available 24/7, so you can deposit checks even outside of business hours.
Things to Keep in Mind While Doing Instant Online Check Cashing
While instant online check cashing offers convenience and speed, there are a few things to keep in mind:
- Check your bank’s policy: Not all banks offer online check deposit, and some may have different policies and fees for this service.
- Endorse the check: Make sure to endorse the back of the check with “For deposit only” and your signature.
- Check image quality: Make sure the images of the check are clear and legible. If the images are blurry or distorted, the deposit may be rejected.
- Keep the check: After depositing the check, it’s a good idea to keep it for a few days until the funds are credited to your account.
Where Can I Deposit the Check?
Users of Zil, a cloud-based banking platform, can deposit checks online with a few clicks. To deposit a check, users must enter the amount, choose the payee, and upload front and back images of the check. Check deposits are typically processed within one business day, and the number of checks that can be deposited is unlimited. Furthermore, Zil does not charge any fees for check deposits. This feature is extremely useful for users who do not have a nearby physical bank branch or prefer to avoid waiting in line at a bank. Overall, Zil’s online check deposit feature is quick, simple, and free, making it an excellent choice for people who need more time.
How to Instant Online Checks Cashing with Zil?
- Step 1: Log in to ZilBank.com and select a bank account.
- Step 2: Click on the Receive Payment button and select the Check Deposit option from the drop-down menu.
- Step 3: Select the contact that sent you the check. Add the amount on the check, upload the front and back images of the check, and click SUBMIT.
- Step 4: Enter the OTP you receive through email.
After entering the OTP, your check will be deposited. It should take 3-5 business days for the funds to be available. Retain the physical check for seven days.
Zil is the ideal solution for anyone looking for a way for instant online check cashing. There’s no need to visit a bank or an ATM with Zil; simply photograph the check and upload it via the mobile app or website. The funds will be deposited into your account within a few days, making it simple to deposit checks. Are you ready to try our online banking service? Sign up today to get started!