Reasons for using Mobile Deposit Capture (MRDC)

We all love when there are faster options available for us to do certain things, right? If you have the choice to take a regular train or a bullet train, you would take the bullet train, right? A propeller plane or a jet? It seems that we enjoy certain things that are faster than their alternative because they end up giving us more time to do whatever we want. The same concept can be mirrored now in the banking industry with depositing a check. Rather than depositing a check the traditional way by driving to a bank, many people can now deposit a check into their account at outrageous speeds without leaving their house, office, etc. As long as you bank with a financial institution that provides Mobile Deposit, you are able to deposit a check into your account instantaneously from anywhere at anytime! Here is a breakdown done by American Banker that was conducted a few months ago on the top reasons consumers gave for using Mobile Remote Deposit Capture (MRDC):

Convenience — 52%
Faster access to funds — 45%
Faster than other options — 39%
Urgent need to Deposit check– 33%
No convenient branch — 15%
No convenient ATM — 14%

It is important that I point out that only 3% said they would never use this service.


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