Remote Check Deposit Service

Remote Check Deposit - Video link

 

 

 

Improves your businesses cash flow and operating efficiency while reducing the time spent depositing checks and handling paper remittances.

Business clients receive a desktop scanner and scan their checks right from their desktop into their Working Capital Management Account®  (WCMA®) or Business Investor AccountSM (BIASM).

  • No trips are required to a branch office to make a deposit
  • Improved cash flow and office efficiencies
  • Make deposits 24/7
  • Fast, accurate deposit reporting and details
  • Affordable and easy to set-up

To enroll, contact a Merrill Lynch Financial Advisor, use the branch office locator to find an office near you, or call (866) 4ML-BUSINESS (465-2874).

Use our Remote Check Deposit Financial Evaluation Tool to illustrate potential savings your business may realize when utilizing this remote deposit service.

 

Frequently Asked Questions About Remote Check Deposit Service

How does the Remote Check Deposit Service work?

Remote Check Deposit Service is a client-friendly deposit service that provides businesses with a way to deposit checks into their Merrill Lynch WCMA®  and BIA accountsSM electronically. Business Owners use a scanner to copy all the necessary information on a check's front and back, including the MICR (Magnetic Ink Character Recognition) line and endorsements. The image is transmitted to Merrill Lynch via the Web and then deposited into the businesses' WCMA or BIA accounts. The delay inherent in physically transporting and handling paper documents is eliminated.

Do I need any special equipment to deposit checks?

You will need a desktop scanner which is available for a nominal charge, internet access via DSL/ cable connection or better and Internet Explorer Browser 6.0 or higher.

When will funds be available when depositing checks remotely?

Funds are generally available within 2 days after checks are scanned and transmitted, if completed by 5:30 p.m., Eastern Time. Some accounts may have funds available within 1 day. Please check with your Financial Advisor for further information on your account designation.

How do I get started?

Our specialized Remote Check Deposit Service specialists, along with your Financial Advisor, will assist you to choose the right scanner for your business needs. Our specialists will also guide you on the installation and setup of the new service. To enroll in this service, call your Merrill Lynch Financial Advisor, use the branch office locator to find an office near you, or call the 1.866.4ML-BUSINESS (465-2874).

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Merrill Lynch, Pierce, Fenner & Smith Incorporated is a registered broker-dealer, not a bank and the WCMA account is not a bank account. Banking services are provided by licensed banks or by third parties through arrangements with licensed banks. Unless otherwise indicated, investment products are not FDIC-insured, not guaranteed by a bank and may lose value.


Merrill Lynch provides Merchant Processing Solutions service in alliance with Newtek Business Services, Inc., which is an independent third party provider not affiliated with Merrill Lynch.  This service is available for an additional fee.  

Working Capital Management Account and WCMA are registered service marks of Merrill Lynch & Co., Inc.

Paychex® is a registered trademark of Paychex, Inc.

American Express is a registered trademark of American Express Company.

MasterCard is a registered trademark of MasterCard International Incorporated.

Visa is a registered trademark of Visa International.

* Additional fees for these services may apply.