Anyone do commercial banking and use the night depository box?

[SZR48207]

Regarding the bank's externally accessed "night depository box" that is usually in the same area as the drive-up banking area:

Do deposits HAVE to be placed into the bank's fabric zipper envelope in order to be dropped in there? Or can the deposits (only checks, no cash or coins) be put into a plain sealed mailing envelope and then dropped in?

 

[JayhawkRoy]

Deleted. Missed key word "commercial".

 

[Donald]

I have often used it and always just drop off a plain envelope. The envelopes are opened by two people so cash should be OK in addition to checks. Give the state of the US mail if I need something to be at the bank on a certain day then I use the night drop box if I arrived after the drive up tells have closed. Never a problem.

I would ask about cash however before dropping off cash. But I think the envelopes are opened by two people. I assume businesses drop off cash all the time. They get it to the bank as they don't want it in the store.

 

[Passport1]

My branch bank has one. I've used it once. Banks and ATMs are sketchy places after dark, too many Creatures of the Night lurking about.
Laura B. explains in this old vid, has some old cars too;

 

[SZR48207]

I have often used it and always just drop off a plain envelope. The envelopes are opened by two people so cash should be OK in addition to checks. Give the state of the US mail if I need something to be at the bank on a certain day then I use the night drop box if I arrived after the drive up tells have closed. Never a problem.

I would ask about cash however before dropping off cash. But I think the envelopes are opened by two people. I assume businesses drop off cash all the time. They get it to the bank as they don't want it in the store.

Thank you for the answer. Does the bank then mail you a deposit receipt or do you just rely on checking the balance online later to confirm that they processed thed eposits?

 

[Zee09]

I prefer that my victims use a regular sealed security envelope as the other bank supplied fabric bags are hard for me to fold or open quickly.

 

[SZR48207]

I prefer that my victims use a regular sealed security envelope as the other bank supplied fabric bags are hard for me to fold or open quickly.

But the depository is a one-way chute? Like how you can't reach up into a vending machine to steal the bottom row.

 

[Zee09]

But the depository is a one-way chute? Like how you can't reach up into a vending machine to steal the bottom row.

I can't, I am the banker.

 

[atikovi]

Why not deposit into an ATM?

 

[bdcardinal]

Why not deposit into an ATM?

If you are depositing multiple checks and cash it would take forever on an ATM. With a drop you just fill out your deposit slip, put the checks and cash in the bag, seal it, and drop it. Plus there is a lot less risk of getting robbed at a drop box than at an ATM.

 

[Wolf359]

If you are depositing multiple checks and cash it would take forever on an ATM. With a drop you just fill out your deposit slip, put the checks and cash in the bag, seal it, and drop it. Plus there is a lot less risk of getting robbed at a drop box than at an ATM.

Not only that, but the ATM times out after a few minutes. Anytime I have more than 5-6 rent checks, it always asks me if I want more time as it takes a while for it to read the checks and also half the time it can't figure out the right number so I have to input it in manually. I tried about 10 checks once and it blew up and spit them all back so I had to break it up into two transactions.

 

[atikovi]

Don't banks have a feature where you take a picture of the check and deposit it electronically from anywhere? No need to go to the bank. And no way I would deposit more than a few hundred cash into a machine as mentioned in my other thread.

 

[bdcardinal]

Don't banks have a feature where you take a picture of the check and deposit it electronically from anywhere? No need to go to the bank. And no way I would deposit more than a few hundred cash into a machine as mentioned in my other thread.

Its not really feasible for a business with multiple deposits. One time I got talked into doing our bank deposit at work during the day. They gave me the bag and it was fairly heavy. $25K in 100s and another 250K or so in checks. They had me do it because I am the most responsible. I told them next time I wanted someone with me just in case.

 

[atikovi]

How do businesses that get thousands of checks a day handle it?

 

[Donald]

How do businesses that get thousands of checks a day handle it?

They use bank services that receive the checks and do the deposits. The bank services work with the company's computer system to update customer accounts.

Or a company can rent a commercial check scanner that can scan checks quickly and send the scans to the bank.

 

[Donald]

Thank you for the answer. Does the bank then mail you a deposit receipt or do you just rely on checking the balance online later to confirm that they processed thed eposits?

The bank can send a receipt if requested.

 

[Hall]

How do businesses that get thousands of checks a day handle it?

Large enough retail stores, i.e. Walmart, etc, scan your check when you give it to the cashier. Shortly after, they'll electronically transfer the money from your account. They likely shred your check within days (it doesn't get deposited to a bank).