Bank Shot now offers digital checks as a payment option for the real estate market. The company said it aims to give consumers a faster and more convenient option than a paper check that is safer than an ACH solution.
“At Bank Shot, we want our mobile payments app to be user-friendly for all customers, including those who do not have paper checks,” Bank Shot CEO Emily Traxler said in a release. “Compliance is still our top priority, so we’ve built a solution that does not process as an ACH, but as a traditional check that is deposited in the bank or via remote deposit. We want to make sure the homebuying experience with us is simple and gives everyone peace of mind.”
The digital check feature is available to all Bank Shot mobile app users, both Apple and Android. Earnest money payments, including digital checks sent and received by the mobile app, are good funds. And all funds will be protected with Bank Shot’s Check 21 standards and two-factor authentication.
“We have an exceptional product, and we’re always excited to find new ways to innovate and make our customers’ lives easier,” Traxler said. “Rest assured, with every new feature, we remain committed to providing the highest level of cybersecurity for our customers.”