M&T Bank : Remote Check Deposit Calculator
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Remote Check Deposit Calculator

Running to the bank with checks to deposit can cost your business in more ways than you think. There’s the time, the money, the fuel and the energy – it all adds up.

M&T Bank's Remote Check Deposit is a simple, money-saving solution which allows you to manage your deposits with greater ease, convenience and speed.

Calculate the cost to your organization of making deposits at your branch, and see how much money your organization could be saving by using M&T Bank’s Remote Check Deposit service instead. Enter the deposit information for your organization in the calculator below to calculate your average savings.

Number of locations making deposits:
 
 
Amount of time to prepare deposit:
 minutes
Travel time for bank deposit:
 minutes
Number of bank trips per week:
Employee hourly rate:
$
 
Annual cost to deposit checks at the bank:  $4,680.00
Average annual cost of RCD in year 1:  $1,490.00
Average annual cost of RCD after year 1:  $1,200.00
 
Average annual cost savings of using M&T's RCD: $3,190.00

 

The simple tool above helps your organization calculate the estimated cost of making deposits at a bank, based on the annual amount of time your organization spends making deposits at a branch and your employees’ hourly rate. You’re also provided with an average annual cost to your organization of using M&T’s Remote Check Deposit service in the first and subsequent years.

The results reveal the average annual cost savings to your organization of using M&T’s Remote Check Deposit service (based on the first year of using Remote Check Deposit) in place of traditional branch deposits1.

To learn more about how you can save time and money with Remote Check Deposit, call 1-800-724-2240 to speak to one of our experienced Commercial Service Team Representatives (Monday−Friday: 8am−6pm ET), or contact your M&T Relationship Manager.

1The values and estimated costs of using M&T Bank’s Remote Check Deposit service in the above example calculator are based on an average Commercial Group customer and may vary for your organization depending on your organization’s deposit patterns and volume of checks deposited using the Remote Check Deposit service.

M&T Bank’s Remote Check Deposit (“RCD”) services are provided subject to M&T Bank’s standard treasury management services agreements for the provision of RCD services (“RCD Agreement”). Client may only use an Approved Scanner (as defined in such RCD Agreement) for RCD services. Under our RCD Agreement, M&T Bank may pay the cost of purchasing one M&T Approved Scanner (per client) on behalf of client to be used under the RCD Agreement. However, if the RCD Agreement is terminated for any reason (other than by M&T Bank without cause) prior to the six (6) month anniversary of the commencement date of the RCD services, client must reimburse M&T the cost of each M&T Purchased Scanner that M&T purchased on behalf of client.

 
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