If you receive a check at your address, Stable can deposit it for you. Altogether, we've helped our clients deposit hundreds of millions of dollars of checks.
We currently support check deposits in two different ways:
Stable Lockbox (beta)
We are excited to launch our beta test of Stable Lockbox, an onsite mobile deposit feature that allows us to deposit your checks onsite and have funds settle within one business day.
We have successfully deposited millions of dollars in our alpha test, and are excited to open our beta to all of our customers.
Here's how it works:
1. Stable receives your mail
Mail arrives at your Stable address, and we scan it and upload it to your Stable dashboard.
2. Stable detects your check
If your scan includes a check, it is classified as a check and appears in the Finance section of your dashboard.
3. You initiate a deposit
You let us know that you'd like us to deposit your check. If you'd like, we can also automate this and immediately deposit every check that comes in.
4. Stable deposits your check via mobile
Our mail facility will endorse your check with the account number of the Stable Lockbox account you'll set up, then use mobile deposit hardware we have onsite to deposit your check.
Endorsement is possible by using the account number, and a signature is not needed.
5. Your deposit lands in your Stable lockbox within 1 business day or less.
Your Stable lockbox is a financial account that we will set up to act as an intermediary transfer, in a similar way other common money-transfer applications work.
We partner with Stripe and Evolve Bank & Trust to host this financial account. We do not take any fees from the deposit.
6. The funds are transferred to your own bank account via same-day ACH.
Funds take 1 day to clear for checks less than $20,000, 2 days for checks between $20,000 and $100,000, and 5 days for checks $100,00+.
We can transfer funds to any bank.
Our beta is currently open to everybody and works with all banks. While the money transfer aspect has been tested extensively and is ready to go, our UX is still being improved. We welcome any feedback and suggestions!
How to get started:
1. Fill out this 2-minute questionnaire to get started — you'll be asked for your account and routing number.
This is to help us set up the ACH transfers from your Stable Lockbox to your bank account.
2. Once the questionnaire is completed, we will activate Lockbox onboarding under the Finance section of your Stable dashboard (currently it will be about a day until you'll see this appear).
3. Complete the Lockbox onboarding process (15 minutes).
You'll be asked some basic Know-Your-Customer questions to verify your identity.
4. Our team will activate your lockbox and you can start depositing checks!
To deposit checks, press Deposit and then select Lockbox.
We can also automate this process — send us an email if you'd like us to automatically deposit checks (available on the Scale Plan).
FAQs
What banks work with Lockbox?
We can deposit checks to all US Bank accounts. Unlike with mail-in deposits, this also includes Mercury and Brex.
How many bank accounts can I connect?
Currently, only one bank account can be connected to Lockbox — that means we can only set up one bank account for ACH transfer.
We are working on supporting more than one bank account once we move out of the beta, so the ability to add multiple banks will be available in the future.
For now, some clients transfer funds to one holding account and then into separate accounts from there — the process is still much faster than other options.
What will the transfer look when it lands in my bank account?
Since the funds are being transferred indirectly from your Stable Lockbox, the line item in your bank account will say "STABLE XFER."
Exact check details are available in Stable for reconciliation purposes:
How much does it cost?
Our costs are covered through a flat fee — we do not take any money out of your check deposits or charge a transfer fee.
Our flat fees are as follows:
Pay-as-you go: $20/check
10 checks/month — $50/month
25 checks/month — $100/month
50 checks/month — $150/month
How can checks be deposited without endorsement?
Our team deposits checks to your Lockbox account via mobile deposit just as you've likely done yourself — however, we endorse the check with your Lockbox's account number instead of signing it.
How long does it take for the funds to settle?
It will take us one business day or faster to deposit your check into your lockbox. After that, an ACH transfer will be initiated the same day, and it will land in your account if it's before 4pm ET on a weekday. If if it's after 4pm ET, the funds will land on the next weekday.
Can we deposit checks for a recipient that is not listed on the bank account?
Yes. We have tested this and have not yet seen an issue, but since we're in the beta phase, we have not seen everything yet.
If we do run into an issue here, the checks do not leave our facility, so we will inform you via email right away. From there, you'll be able to forward the checks to yourself if needed.
Mail-in Check Deposits
Checks that are sent to your Stable address can also be deposited directly into your bank account via mail-in deposits.
To set this up, please fill out this form. You can add as many bank accounts as you'd like here, but note that Mercury and Brex do not accept mail-in check deposits.
Here's how it works:
1. Stable receives your mail
Mail arrives at your Stable address and Stable scans it and uploads it to your Stable dashboard.
2. Stable detects your check
If your scan includes a check, it is classified as a check and appears in the Finance section of your dashboard.
3. You initiate a deposit
You let us know that you'd like us to deposit your check by choosing which bank account you'd like to deposit checks to. You can also have us always automatically deposit your checks.
4. Stable prepares your deposit
Our mail facility will separate your check from all other paperwork included with your check, then endorse your check with the account number you've provided us.
Other paperwork will be shredded, but scanned copies of it will always be available.
5. Stable sends your deposit to the bank
Each bank has a designated address where they can deposit checks that arrive by mail-in. Typically, this is a PO Box or local branch at a central location in the country. For example, Chase's mail-in location is in Westerville, Ohio.
We will package your check in a USPS Priority envelope and send it to your bank — typically checks take about 2 to 3 days to arrive at the bank.
You'll be able to see the tracking information for the envelope in your Stable Dashboard by clicking on the check.
6. The bank receives your check and processes it
Once your check arrives at the bank, the bank receives it and processes it. Typically we see this process taking about 2 to 3 business days, although Stable loses visibility during this step.
If you do encounter any issues during this step, you should reach out to your banker. If the bank has a problem with the check (for example, if the maker has voided the check or if the check was not made out to a listed recipient on the bank account), typically they will send the check back to Stable, and we'll reupload it to your dashboard.
Other ways to deposit checks
If you prefer to deposit checks yourself, we can also forward checks directly to you anywhere in the world.