MINNEAPOLIS, Feb 18, 2010 (BUSINESS WIRE) -- Expanding its existing suite of remote deposit products, U.S. Bank is
launching Deposit Express, a remote deposit capture offering
specifically designed to meet the unique banking needs of small
businesses.
Deposit Express allows small businesses to scan and deposit checks to
their U.S. Bank account from the convenience of their office, using a PC
and a desktop scanner. With a few simple steps, small businesses can
scan, balance and submit their deposits to the bank, without having to
physically transport them to a branch. Small businesses using Deposit
Express can also take advantage of later deposit deadlines, since
deposits made by 10 p.m. Central time are credited on the same business
day.
Small businesses that use Deposit Express say it saves them a
considerable amount of time because they don't need to find a break in
their day and leave the office to make deposits.
"What sets Deposit Express apart from other remote deposit products is
its simple, streamlined interface that makes it a great fit for small
businesses," said Jeff Parker, senior vice president for U.S. Bank's
Small Business Segment. "Rather than relying on a 'one size fits all'
approach, we've leveraged our technology and expertise behind our
existing remote deposit products - which typically have been a better
fit for larger businesses with more complex check processing needs - and
we've designed a new solution that's more relevant for small businesses."
Another point of distinction for Deposit Express is its flexible terms.
Unlike remote deposit products from many other providers, U.S. Bank's
offering requires no minimum contract term or termination costs.
Deposit Express is currently available to existing U.S. Bank small
business customers who meet qualification criteria.
The Deposit Express product leverages the foundation of U.S. Bank's
On-Site Electronic Deposit, which was first introduced in 2004 to meet
the more complex remote deposit processing needs of larger businesses.
U.S. Bancorp (NYSE: USB), with $281 billion in assets as of Dec. 31,
2009, is the parent company of U.S. Bank, the fifth largest commercial
bank in the United States. The company operates 3,015 banking offices in
25 states and 5,148 ATMs and provides a comprehensive line of banking,
brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. Visit U.S. Bancorp
on the web at usbank.com.
SOURCE: U.S. Bank
U.S. Bank Media Relations
Jennifer Wendt, 612-303-0731
jennifer.wendt@usbank.com
