M&T Bank has introduced a mobile application that allows business customers to deposit their checks .
The bank’s new M&T Mobile Deposit for Business app lets business customers make check deposits, up to $10,000 per day, from their iPhone or Android smartphones. Users enter the deposit amount, take a picture of the check and tap to complete the transaction.
Deposits received by 8 p.m. Eastern time are processed that business day and deposits made on weekends or holidays are processed the next business day.
Small businesses that use mobile apps to help manage operations are saving more than 370 million hours annually, according to the Small Business and Entrepreneurship Council.
Business customers pay 99 cents per check deposited through the mobile app, with the first two checks free each month. There is no set up cost or monthly fee to use this service. The app is free.
M&T Bank has $78 billion in assets and more than 750 branch offices in New York, Pennsylvania, Maryland, Delaware, Virginia, West Virginia and the District of Columbia.
M&T entered the Delaware market with the purchase of Wilmington Trust.
