Banks that show check payers on statment

[etrium]

Not sure if this is the right room to post in, but please correct if there is a better place.

I work as a consultant, getting 1099s from different entities who pay me through paper checks. I was wondering if anyone knew of a bank that when depositing a check, it shows the payer on the statements.  much like how ach deposits show the payer on statements. right now, the banks i use show "remote deposit" under the details of a check deposited, and I have to get either copies of the checks or lookup the images of the checks to figure out the payer when I'm doing reconciliations.

thanks for all your help!

[protostache]

I don’t think this is technically possible with the check system we have in the US. That information simply isn’t available in machine readable form on most checks. All the bank reads is the routing and account number and does a plausibility check on the amount vs what you type in. I imagine they randomly human sample the amounts as well.

Checks are a pain in the butt. When I was heavily consulting I mandated ACH or wire transfers for all of my clients. Stripe has a cool setup these days that will generate a routing and account number per customer and then automatically mark an invoice as paid when they receive a matching deposit. If I were working with clients that’s what I would be using.

[marty998]

Not sure if this is the right room to post in, but please correct if there is a better place.

I work as a consultant, getting 1099s from different entities who pay me through paper checks. I was wondering if anyone knew of a bank that when depositing a check, it shows the payer on the statements.  much like how ach deposits show the payer on statements. right now, the banks i use show "remote deposit" under the details of a check deposited, and I have to get either copies of the checks or lookup the images of the checks to figure out the payer when I'm doing reconciliations.

thanks for all your help!

Do you have a deposit book? It's been 13 years since I had to regularly deposit cheques (doing the banking for my first employer) and we had to fill out a deposit slip with the details of all cheques (you keep a copy and the bank keeps a copy).

Can't believe how mired in low productivity your economy is that it still relies on cheques to move funds around ;)

[etrium]

Yeah, it sucks. I'd direct deposit/ACH all my payers if I could, but I guess that's the nature of the beast. Can't complain that I'm at least getting paid though.

I don't use a deposit book-I used to take pics of checks and upload with my phone, but now I'm going to find a bank that allows your own desktop scanner and in the process of scanning checks, I'll also keep a searchable pdf that I can hopefully go through more quickly than physical checks/scans made by banks.

As an aside, USAA used to be at forefront of online tech, but now are terrible about showing scans of deposited checks over 90 days.  Chase is good about showing scans, but it seems to reset the search you were on when you close the scan window-hard to go through multiple scans on different dates. Their mobile app seems to be the best to review multiple scans. Thanks for all your help!

[Xlar]

Both Bank of America and Capital 1 show a picture of the deposited check in the activity section on their website. But I don't think they do on the actual statements. Would that be enough?

[jlcnuke]

When I deposit a check into Chase through the mobile app, the pictures of the check are available online. It doesn't say who it was on the statement, but the picture is available.

[Proud Foot]

Yeah, it sucks. I'd direct deposit/ACH all my payers if I could, but I guess that's the nature of the beast. Can't complain that I'm at least getting paid though.

I don't use a deposit book-I used to take pics of checks and upload with my phone, but now I'm going to find a bank that allows your own desktop scanner and in the process of scanning checks, I'll also keep a searchable pdf that I can hopefully go through more quickly than physical checks/scans made by banks.

As an aside, USAA used to be at forefront of online tech, but now are terrible about showing scans of deposited checks over 90 days.  Chase is good about showing scans, but it seems to reset the search you were on when you close the scan window-hard to go through multiple scans on different dates. Their mobile app seems to be the best to review multiple scans. Thanks for all your help!

What to you do with the physical checks after you deposit them? It should be easy to keep a file with the checks in that you can then check against the bank statement when you do your reconciliation. I could see how this would be an issue if you used a lockbox for the deposits.