As banking increasingly goes digital, credit union members have a new way of handling paper checks. Instead of using an ATM or making a personal appearance in the branch, members of a growing number of credit unions can endorse the back of a check, take a photo of the front and back, and then upload the image via their credit union’s mobile application (remote deposit capture, as it is sometimes referred to).

Depositing a check with your smartphone can literally take only seconds. As effortless as this process may seem, you may encounter some bumps along the way. Below are some simple steps to assure your success with mobile deposit.

Know your credit union’s requirements: Make sure you are eligible to use your credit union’s mobile deposit service. Most credit unions will let you use this feature if you are eligible or have signed up for mobile banking.

Endorse the check: Sign your check with blue or black ink and make sure there are no other items that need to be written on the check. For example, you may need to write “for remote deposit only” or include the last four digits of your account number.

Make sure the amount of your check is within the deposit limits: Because of security risks, many credit unions will limit the amount you can deposit remotely. If your check doesn’t fit those limits you will need to make your deposit at an ATM or the branch office.

Take a clear picture of your check:

Make sure your checks are deposited by using these tips for taking a clear, quality photo of your check.

· Place the check on a dark background that won’t reflect your camera flash.

· Make sure there’s plenty of light on the check.

· Ensure that all four corners of the check are inside the photo.

· Make sure no other objects are in the frame of the photo.

· Hold your smartphone directly above the check.

· If you get a blurry image, move the camera a few inches higher above the check.

· If you are having problems with quality or lighting, turn off the flash.

Confirm and press send: Make sure the check is going to the right account and that all other information is correct before you click send.

Keep the hardcopy of the check until it is processed. Your credit union may touch base with you via email when the check is accepted. Once you have your follow-up email, write “deposited by mobile” on the check and hold on to it until the deposit shows up in your account.

By following these simple steps, you can make a safe, secure mobile deposit. Remote check deposit has already begun to change the way credit unions interact with their members. With a mobile banking app., members can check their balance, transfer money between accounts and deposit checks remotely. No matter how convenient mobile banking has become, your credit union still can’t produce cold, hard cash through the phone so don’t kiss the brick-and-mortar branches goodbye just yet.

We all use it, it is the common way we acquire services and goods on a daily basis. We trade our time for it. We rely on it to provide for our future, stash it away in belief that it will still have value in the future. It is our currency be it Dollars, Euros, whatever, but it is not as trustworthy as you may think. Look I am by no means a qualified financial adviser or guru in any form, but I am going to explain to the best of my ability; that you should start looking at other forms of investment to secure your financial future.

Fiat currency

All national currencies are called fiat currencies. What does this mean? Well Investopedia’s definition of a fiat currency is:

“Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith. Fiat is the Latin word for “it shall be”.” – investopedia.com

So basically, that piece of paper you carry in your pocket is exactly that, a piece of paper that is based on your faith that it will still have the same purchasing power tomorrow as it has today. So what is wrong with that?

Fiat currency, unfortunately, has had a long history of failure. Since the Roman Empire in the first century began with the practice of debasing their currency (adding impurities to their money thereby reducing the value but increasing the amount of currency in circulation) it has led to devaluation and eventual collapse.

Maybe you are thinking that it could not be happening today, I am sorry to say that it is. Our history has had several failed attempts at using paper currency and fiat currencies have never been successful except for political systems trying to prevent the debasement of their currency by letting the printing presses run amok.

It is not all doom and gloom though. I am also not saying this will save everyone, but if you look at countries like China who are stockpiling in gold, maybe we should follow in their footsteps? We all know that gold is valuable and there is only so much of it on our planet, this allows it more stability than fiat currency. Gold has also shown a consistent growth in its life time.

Like I said I am by no means a qualified financial adviser, I am just stating my thoughts and how I feel. And I feel that there is a definite shift in the way the world economy is moving right now. I can’t say if it is going to happen tomorrow or in the next 10 years, but I am sure it will happen. So maybe it will be a good idea to create a secure foundation for your financial future. Hope for the best and prepare for the worst.

To Your Success.

If this article has tickled your interest and you are wondering what you can do about it. Feel free to contact me via skype at ja_holtz and I will gladly explain more.

Getting started with credit card processing requires establishing a merchant service account. Though this is something most of us know, it is also important to know which type of account is right for your business. This is important because getting the right payment processing solution helps in better management of finances, the first step towards growth. But do you exactly know what it actually means. Let’s understand it first.

What is a Merchant Service Account?

It is that special account which enables retailers to accept credit cards, debit cards and every other type of electronic payment. The account is established with the help of any organization or you can say merchant acquirers who share relationships with organizations that allow electronic payments (when customers pay for purchase of any product/service).

Credit card payment processing depends on the type of industry and size of the business. Whether you belong to restaurant, travel/tourism, retail or any other business, you can start with payment services that fit best for you. There are businesses that operate mostly via Smartphones. For such retailers, mobile solutions are available that allow easy alternative to accept payments directly from the phone.

Merchant Account Increase The Customers

This is so true! Your chances of attracting customers increase if you hold this account. Reason is very simple. As more and more customers prefer paying via credit card or debit card, you double your revenues if buyers are allowed to pay for their products through these cards. If you don’t have access, then electronic payment will not be available to the customers and they will switch to other providers. Thus, it helps in providing a healthy way to improve seller-buyer relationship.

The Pricing

It varies from organization to organization. While some offer competitive charges, others have a slightly expensive fee. It is important to explore the offered services carefully, ask for the details and similar things before opening the account with any of the service providers.

The 24/7 advantage

Being an online alternative, these accounts allow receiving payments 24/7 from everywhere. No matter what’s the time or day, customers can buy your services anytime they want. This also brings profits to your business. Such a win-win situation for you.

If you have already started with merchant services, you must be enjoying the benefits. But if you are still to experience it, get started now. Gaining more customers, earning huge finances and expanding business, you can achieve them all.

Paycron has been recognized for leveraging top-notch merchant services for customers. Different payment solutions are provided ensuring that the business, whatever the size, remains well connected.

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