A Billboard Insider reader writes this in response to our Getting Paid post in which we wrote that most banks charge out of home companies a per check deposit fee:

Where do you guys bank? I have never paid a check deposit fee at any bank and we deposit all our checks via app.  No need to go to the bank.

The reader makes a great point as to the benefits of using a check processing app.  With a bank app you can deposit checks automatically by endorsing the check and taking a picture of it and uploading it to the bank via the app.  It eliminates the hassle of a bank trip.

Are checks free to deposit?  Not really.  Most free business checking accounts require a minimum balance.  When you leave excess deposits in the bank you are financing the bank without getting any interest on your money.

Other banks have a minimum monthly fee for a business checking account.  The monthly fee is set at a level to cover the charges of servicing your account.

If you elect to use account analysis – in which the bank gives you credit for your account balances and itemizes all the bank charges – you can see what the bank is charging you per check by looking at your bank analysis statement.  Here’s an account analysis statement for a small out of home company.  You can see a mobile check deposit charge of $0.30 and an ACH charge of $0.13

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