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DeposIT - FAQs

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1. How does the MidCountry Bank DeposIt system work?

We will assist you in how to attach a small check scanner to your computer and install the DeposIt software. To deposit checks, you log on to the DeposIt website and run your checks through the scanner. A deposit slip will be generated which may be printed out. The funds will be deposited into your existing bank account.

2. What are the benefits of the MidCountry Bank DeposIt system?

Check out the Features & Benefits of our MidCountry Bank DeposIt system.

3. What is Check 21?

Check 21, officially known as the Check Clearing for the 21st Century Act, is a law that was instituted by Congress in late 2004 which allows banks to present an electronic image of a check, or "substitute check," for payment, instead of the actual check. This law was enacted to streamline the check processing industry by reducing the cost and effort of physically handling and transporting paper checks. See the federal reserve website for additional information.

4. What type of checks can I deposit?

All United States checks of any dollar amount may be deposited, such as consumer checks, business checks, traveler's checks, U.S. Treasury checks, money orders, and drafts.

5. What type of security is built into the system?

MidCountry Bank DeposIt offers the most up-to-date security features available, including secure user login, multiple firewall layers, a redundant network, duplicate hardware, and SSL encryption.

6. What is Remote Deposit Capture (RDC)?

This is another name for the electronic check processing that is available through MidCountry Bank DeposIt. The scanning of the check actually initiates the check clearing process from the business location. Images of the checks are transferred to the bank, and checks can be cleared and funds can be credited without a hard copy of the original check.

7. Is the MidCountry Bank DeposIt product an electronic check conversion?

No. Electronic check conversion is the process of converting a paper check to an ACH debit on the check writer's account. No business checks, money orders, or traveler's checks may be cleared under electronic check conversion. It is limited exclusively to consumer checks under $2,500.

Businesses receiving checks using the electronic check conversion process are charged a fee based on the dollar amount of the check. The MidCountry Bank DeposIt system deposits checks directly into the bank account of the business and the per check charges are substantially less. Electronic check conversion is subject to National Automated Clearing House Association (NACHA) rules, while checks cleared through MidCountry Bank DeposIt and checks cleared through traditional paper clearing are subject to check law.

8. Do I need to send the hard copy of the checks to the bank after I make a deposit

No. We recommend that you hold the checks for 14 days, then shred them. Copies of the check images are held on the MidCountry Bank DeposIt system for seven years.

9. How do I know if the MidCountry Bank DeposIt system will work on my computer?

Just click on iSpec. Your computer will automatically be checked for system compatability.