TD Bank announced last week that it now offers mobile check deposit for its business customers. Now, business customers can go through the TD Bank BusinessDirect app for Android(TM) or iPhone(R) devices and deposit money.
“The ability to deposit checks through our mobile app helps small business owners save time that they can, in turn, invest in their business,” said Ravi Subbaraya, head of business banking products at TD Bank, in the release. “The checks get paid faster and that accelerates their cash flow.”
According to a company press release, the feature is available to customers who have been enrolled in BusinessDirect, which is TD Bank’s online banking for business owners, for at least 90 days.
To deposit a check, select the deposit amount, take a picture with their phone of the front and back of the check and then select account to receive the deposit. Funds that are deposited before 8:00 p.m. EST are typically available the next business day, according to TD Bank.