By: Deborah Johnson Wood
Mercantile Bank
in Grand Rapids might be the first in Michigan to offer deposit at home
services to clients with personal accounts. The service, launched on
April 13, enables clients to deposit checks without have to take the
check physically to the bank.
Clients scan the check into their
computer, and then log in to the Mercantile Bank web site to send the
scanned image to the bank. The bank records it as a deposit and sends
the scanned image to the originating bank for payment. The client
making the deposit prints a deposit receipt and keeps the check until
the deposit clears the bank and they've reconciled their account.
"A similar service has been available
to businesses for a while," says Michelle Shangraw, retail banking
director, "but they need a sophisticated scanner that handles a high
volume of checks. A lot of people will go for a week with a birthday
check or another check in their pocket. With Merc@Home Deposit (www.mercdeposit.com) they can make the deposit from home and get it into the bank sooner."
The service could also be a convenient solution for micro businesses that have a few check deposits a month.
Mercantile Bank also launched MercMobile, enabling
cell phone users to pay bills, transfer funds, check account balances,
and more, using a smart phone with Internet capabilities.
"We want to package convenience for our
customers and offer them innovative products and ways to do business
easily," says John Schulte, CIO. "We worked with an existing vendor
partner, keeping an eye on this technology and getting it ready for
market. We believe we're the only bank in Michigan to offer this on the
personal banking side."
Mercantile Bank offers both new services at no charge.
Source: Michelle Shangraw, John Schulte, Mercantile Bank; John Zimmerman, Seyferth & Associates
Deborah Johnson Wood is development news editor for Rapid Growth Media. She can be contacted at [email protected].
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