Make a deposit without going to the bank

A new service by CheckFree Corp. will give consumers the chance to deposit checks into their bank accounts without actually going to the bank. The technology is called Remote Deposit Capture, and amounts to you scanning your checks, transmitting the digital images to CheckFree, and waiting for CheckFree to notify your bank of the deposit.

The technology has been used mostly by businesses up until now. CheckFree is hoping that their service will encourage more widespread use among consumers. If your bank offers online banking, "check" to see if they have this service available to you.

I like this idea and the convenience of depositing checks without leaving my desk. I will definitely use this service if my bank offers it. And for those who are thinking up ways to cheat the system... the banks have fraud protection in place to catch you if you're trying to electronically deposit fake and forged checks. Most notably, you will have to wait for the checks to clear, just like you do with most regular bank deposits.

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.