Banking Tools, Calculators, and Resources

Cost Calculator: Driving Deposits to the Bank

Driving Deposits to the Bank

Use this calculator to determine if Remote Check Deposit would be right for your business.  Enter information about your current check depositing process into the cells provided, and use the “Tab” key to advance to the next cell until all the final calculations appear in the boxes at the bottom.

Driving Deposits to the Bank

Deposit Deadline — 5:00 p.m.

Step 1
Enter Salary

Employee Annual Salary
Step 2
Enter trip/fuel information
Enter Trip Time in minutes
Current Fuel Cost per Gallon
Average MPG
Round Trip Distance in Miles
Step 3
# Trips
Trips Per Week
Results
Weekly Fuel Cost
Weekly Time Cost

Remote Check Deposit

Deposit Deadline — 7:00 p.m.

Scan checks from the convenience
of your desktop using an approved scanner and transmit the images to Fidelity Bank for deposit.
Total Cost Per Month:
Total Cost Per Month: $50*

Other things to consider:
1) Funds not deposited due to a trip not made to the branch do not earn interest or earnings credit.
2) Liability of sending employees to the bank
3) If deposit is lost or stolen, your account information as well as your client’s account information is exposed.
4) Eliminate time and expense of filling out deposit tickets.
5) Virtual Endorsement on checks which means no more signing or stamping the back of your checks.

 

*Transaction and implementation fees may apply. Price may vary based on market and number of locations.