What is OnlineDeposit?
AnchorBank's OnlineDeposit service allows you to automate your check deposits so you can increase funds availability and improve operating efficiency. OnlineDeposit enables you to scan and deposit checks to AnchorBank electronically, from your desk, at your convenience. You will no longer have to meet courier deadlines or make trips to the bank.

How does OnlineDeposit work?
Using a check scanner (installed at your place of business), you can scan checks individually or in stacks (depending on the type of scanner you use), capturing the check information instantly. You will have an image of each check immediately. After balancing and confirming the total, you can submit the deposit to AnchorBank. Your deposit is credited to your account the same business day.

What kind of checks can I deposit?
You can deposit any check drawn on a U.S. financial institution in U.S. dollars, including business checks, cashier checks and money orders.

Can I save and print my check images?
Yes. You will have access to your check images online for up to 60 business days. During this time, you can select one or multiple images to archive on your computer, network or CD. In addition, you can print the check images accessed online or from your archived records.

What do I do with the paper checks that have been scanned and submitted as an OnlineDeposit?
The paper items need to be held in a secure location for 90 days. After that time period, they will need to be destroyed. The checks should be shredded due to the confidential information contained on them.

Do I need to inform my customers that I am depositing their checks via OnlineDeposit?
No. OnlineDeposit does not convert your customer's check into an ACH transaction. For this reason, there is no notification requirement.

Can I deposit to multiple bank accounts at AnchorBank?
Yes. Before scanning your deposit, simply select the specific account to which you would like to make the deposit from a drop-down menu.

What if I scan a check more than once?
The OnlineDeposit system automatically recognizes duplicate items and will alert you that a particular item has already been scanned.

What if I have a check that is damaged or mutilated?
Not all checks are suitable for scanning. Checks should be in good condition. Checks with folds or creases may not scan correctly and/or could jam the scanner.

What happens if the scanner cannot read all the information contained on the check?
Due to differences in check sizes and quality, you may be required to manually enter the check's routing number, account number, check number or dollar amount from time to time.