ATM check deposits...how do they do it?

[Muse]

I deposited a check yesterday. The "machine" was right again! How do they know the amount?

1. Do they have handwriting recognition software analyzing it?

2. Or do they flash it to a human somewhere who types it into the system?

 

[highland145]

1.

My bank runs my deposits through a scanner while I'm standing there. Almost always gets the hand written checks right and almost always can't read the money orders.

 

[CPA]

OCR technology has come a loooooong way the last couple of years. My company is implementing it for AP invoices. Scan the invoice and the OCR technology pulls the date, vendor name, address, invoice number, invoice amount, tax, etc. You can imagine the complexity of the technology when almost every company uses a different invoice type, size, font, etc.

 

[iamwiz82]

OCR technology has come a loooooong way the last couple of years. My company is implementing it for AP invoices. Scan the invoice and the OCR technology pulls the date, vendor name, address, invoice number, invoice amount, tax, etc. You can imagine the complexity of the technology when almost every company uses a different invoice type, size, font, etc.

What tool are you using? Sounds very interesting. I am horrified by the number of faxed invoices we still receive. Fax needs to be put to pasture. D:

 

[bigrash]

There's a little man in the machine that checks all cash and check deposited.

 

[highland145]

There's a little man in the machine that checks all cash and check deposited.

Lilliputians gotta eat too.

 

[Muse]

There's a little man in the machine that checks all cash and check deposited.

Well, that man could be 6' 1" 230 lb. and sitting in Indiana. What he eats, I have no idea.

 

[OVerLoRDI]

What tool are you using? Sounds very interesting. I am horrified by the number of faxed invoices we still receive. Fax needs to be put to pasture. D:

Sounds like Abbyy, that software is amazing, just expensive and takes a very skilled person to setup properly.

 

[Brainonska511]

Checks are pretty standard in their layout. I may be oversimplifying the picture, but the ATM really just needs the routing and account number off the check (easy to read electronically and has been done for a while) and the amount of the check (so just needs to read the numbers in a box).

 

[Bryf50]

Chase ATMs are awesome for this. You can put in a whole stack of checks at a time. It reads all the info and even prints out a nice little picture of each check on your reciept. I haven't filled out a deposit slip in ages.

 

[Krazy4Real]

Chase ATMs are awesome for this. You can put in a whole stack of checks at a time. It reads all the info and even prints out a nice little picture of each check on your reciept. I haven't filled out a deposit slip in ages.

Yup. I love this, but now I don't even have to go to the bank with the mobile app.

 

[xanis]

Yup. I love this, but now I don't even have to go to the bank with the mobile app.

I switched to a bank that has a mobile app and it's awesome. I get a reimbursement check from work every month, so I can just deposit it with the app. Between that and direct deposit I rarely ever have to go to the bank these days.

 

[highland145]

Chase ATMs are awesome for this. You can put in a whole stack of checks at a time. It reads all the info and even prints out a nice little picture of each check on your reciept. I haven't filled out a deposit slip in ages.

I would double check your total. The one day I didn't write the total, the reader missed one. May happen more often but they usually have my total to compare to.

 

[ViviTheMage]

I just started doing this too, for our association ... pretty slick, but ALWAYS verify the number is accurate, as it did spit out the wrong number once.

I tried putting it in as a stack, and it just spit everything back, I had to do them one at a time, haha.

 

[Wreckem]

Its the same type of system they use at a bank to process checks. Its scanned and the data is read by their computer systems. Human eyes rarely(almost never) look at checks when they are processed unless you go to the bank its drawn on and get it cashed.

 

[Muse]

Its the same type of system they use at a bank to process checks. Its scanned and the data is read by their computer systems. Human eyes rarely(almost never) look at checks when they are processed unless you go to the bank its drawn on and get it cashed.

OCR is one thing and it's been around for many years but what I find impressive (and didn't know if I could believe it) is the ability for software to convert hand written figures into digital ones.

I always get a printed receipt when I deposit a check (with an image of the check) and make sure that they got the amount right.

I wonder if there's software that will read a scanned handwritten document into a digital one. Never heard of that.

 

[Brainonska511]

I wonder if there's software that will read a scanned handwritten document into a digital one. Never heard of that.

I had a scanner many years ago that came with some OCR software. I don't remember how well it worked at the time, but I'm sure it's a lot more advanced now.

 

[SheHateMe]

You don't have to sign the checks, either.

 

[dustb0wlkid]