Product

Now easier and faster, check deposit has been given a makeover

May 04, 2021 by Lise Pleyber
checks deposit

Most people have a “love-hate” relationship with checks. As a professional, you enjoy receiving a payment by check, but depositing is a whole other story! Cashing checks takes time, and frankly, you have better things to do.

That’s why we at Qonto want to make depositing checks as smooth and easy as possible for you. For a few years now, we have been providing you with a check deposit service, but with some limits that may seem restrictive.

Well, we heard you! We are proud to offer you an improved experience that will make check deposits even easier for you.

So, what is changing exactly? Shorter wait times and the ability to deposit every single one of your checks! Let’s take a closer look...

You spoke, we listened 📢

Many of you use the check deposit feature, but many of you also feel limited by it at times. You had to endure long weight times before you could access your money, and you would become frustrated when you were unable to deposit all of your checks due to the amount limits. Your feedback is precious, and we understand how annoying this is.

Although restrictive, these limits are required in order to provide you with a totally reliable service. During those wait times, we are working to verify each check in the aim of protecting you (and ourselves!) from potential fraud.

Nonetheless, we want to offer you a quality experience despite this obligation. We have thus examined and re‑examined the problem from every angle, and we have found a solution to provide our users an optimized experience.

Deposit every single one of your checks 🤩

The first bit of good news is that we now have a solution for all of your checks. Never again will you be blocked: all our amount limits have been raised.

Before now, if you had a check for €6,000, we had no way to deposit it, and we were truly sorry for this. Get ready to put all of that in the past, because now you can deposit checks of up to €15,000.

We have also increased the amount you can deposit over a 30-day period. Until now, this limit was set at €10,000. We’ve raised it to €30,000, which should cover the vast majority of your situations.

Because your cashflow is our top priority (after all, you’ve worked hard for that big contract!), we’ve also implemented a new procedure to enable you to periodically deposit all of your checks, even those above €15,000.

Enjoy reduced wait times ⏰

We understand you are all anxious to receive your money in your account. We therefore pulled out all the stops to be able to complete the necessary verifications quickly, all while ensuring the same rigor needed to guarantee total reliability.

The result? Wait times have been reduced to a few days, so your money arrives at its destination sooner!

Plus, for checks of €3,500 or less, your money arrives in your account just 5 days after receiving the check. Not bad, right?

How does it work? 🤓

It’s very simple! Deposit your check from your Qonto web or mobile app by entering its details. Then, simply send it to the address provided. If needed, our customer support is always available to help you and resolve every situation.

We hope that these changes will make your life easier. If possible, we advise you to encourage your clients to use other means of payment that are faster and more secure, such as transfers for example. You have everything to gain!

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