Just a thought..I don't want to overanalyze, but the posting says preferred/established echeck DEPOSIT facilitator.
When you think about echecks, or paper checks one naturally thinks of the WITHDRAWAL aspect of it, that is, sending an echeck/paper check FROM your bank rather than to it.
This is kind of interesting. Sure, banks take checks everyday, to be deposited - individual personal accounts, loan and other product payments.
More and more you see Bank specific ATMs accepting paper checks for deposit, but imaging them and returning the paper (stamped) to you.
Perhaps the strategy is to expand this and take all "mailed-in" paper checks and convert them to echeck, image, and shred.
Some banks won't even cash a check that isn't from their bank. With Ed's service, there is no concern about passing a bad check, or processing the paper. (for a small fee..heh heh)
Anybody have any stats on the use of paper checks vs. echecks? I am certain that paper checks are still quite alive and well and being used by a segment of the population that is not technologically inclined. Banks are still paying to process those, and with MyEcheck, they don't have to pay nearly as much anymore.
