March 28, 2024

ASB offers mobile deposit by smart phone

Check deposits are the latest service to be added to American State Bank’s (ASB) mobile application, “Touch Banking.”

The service, labeled Quick Pic Deposit, which was added to ASB’s list of mobile banking services on Sept. 29, has been well received.

“We’ve been pleased with the response rates,” said David Bemis, marketing manager at American State Bank.

Bemis said deposits were being made in the first week of its release and no issues have been reported.

To make a mobile deposit, ASB customers must download American State Bank’s mobile banking app onto their smart phone device after signing up for internet banking.

Once the application is installed and opened, ASB customers merely have to choose which ASB account they want to deposit their check, enter the amount of the check, take a photo of the front and back of the endorsed check, verify the information and click “make a deposit.”

Within seconds, the check information is verified and admitted for processing. Bemis said if a deposit is made by 1:30 p.m., the funds are available the same business day. If a deposit is made after 1:30 p.m., it is available the next business day.

Bemis said there are some security measures taken to protect both the consumer and the bank. For instance users have a daily deposit limit of $2,500. Also, part of the verification process validates the check’s routing number, ensures endorsement, that the magnetic ink character recognition (MICR) or number sequence on the check is in proper form and makes sure the check is not a duplicate deposit.

“We haven’t had any issues with the quality or validity of the checks deposited,” Bemis said. “We are also doing a review of mobile deposits on our end.”

To learn more about American State Bank's mobile banking services, visit www.americanstatebank.com. or stop by one of it's locations in Osceola, Lamoni or Winterset.