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Wednesday, September 2, 2015

The Check is Not in The Mail? A Life Hack for Digital Person-to-Person Payment

Secure Payment via Encrypted, Permitted & Shared Storage

Trying to get your son or daughter a check quickly? Need to pay back a friend for a small loan? Late on a payment to a contractor? We are always on the lookout for unique ways to utilize SafelyFiled’s signature blend of enterprise-grade security measures and simple, yet tight and effective permission controls for completing tasks. Here is a new life hack to avoid incurring wire and overnight delivery charges, and deliver payment from a personal check faster than you can say the U.S. post office's unofficial creed.

  • First, make sure whoever is receiving the check has digital remote deposit set up through their bank. Most major banks offer the service through account features or mobile applications and they are typically quite secure, simple and fast. Double-check to see what file types the bank accepts—jpg, tif, png, gif—and any special size or dimension requirements for the image.

  • Second, scan the check that you want to send for payment, front and back. We are ScanSnap fans, however, other high-quality scanners will do. You also may be able to get by with taking close-up photos with your smart phone camera. After capturing the images, temporarily save the files to your device in a format and size that agrees with your bank’s uploading requirements.

  • Third, upload the check images to your SafelyFiled account where you can title, tag, make notations and even set a reminder for the check if you want to take action later. You will also want to add your intended recipient’s email and set document-level permissions in your account before sending a secure link to access the check. Rest assured, your files are encrypted when they are sent and stored (see our note below for additional information). Also, don’t forget to delete the local files of your scanned check images saved on your device.

And that’s it for sending! Receiving the check is just as simple ...

  • First, your recipient should have temporary access to your scanned check since you added their email for sharing and set permissions in SafelyFiled, along with expiration for access. The recipient should receive a link to the scanned and encrypted files, which they can then grab and download locally.

  • Next, after downloading, your recipient should print out the two files—the front and back of the check. Importantly, they should make sure that the banking and routing numbers do not smudge so their bank can read the information clearly. Then add a restrictive endorsement on the back of the check with corresponding signature and “For Deposit Only” to prevent fraud.

  • Last, recipients should place the printed front and back of the endorsed check in a well-lit area, like a kitchen table or home office. They can then upload the front and back through their bank’s remote deposit application, via their website or mobile. Once accepted, void the check and delete the local files of the scanned images.

We think this life hack is a bit like check delivery at the speed of the Internet through your own "armored vehicle." SafelyFiled has many other uses beyond facilitating person-to-person payments too. But cost for this postage, not to mention speed of delivery, beats bank wire transfer fees, the U.S. Post Office and other postal services, FedEx, UPS and PayPal by a wide margin. Plus, your recipients will know exactly when and where to expect payment. 

Additional note on security: we respect your need for confidentiality and work hard to protect your privacy. SafelyFiled maintains expertly designed algorithms (using AES and RSA) at the core of our security architecture. SafelyFiled ensures that your files—including checks—are protected both when they are stored in the cloud through 256-bit encryption and while they are transmitted over the Internet.
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