M&T Bank Corp. has introduced a new mobile application that allows businesses to deposit checks totaling up to $10,000 a day from their iPhone or Android smartphone, the bank announced Monday.
The M&T Mobile Deposit for Business app allows businesses to enter a deposit amount, take a picture of the check and tap to process, officials said. Deposits received by 8 p.m. are processed that day, and weekend or holiday deposits are processed the next business day.
Business customers pay 99 cents a check deposited through the app, with the first two checks free each month, the bank said. The app is free, with no set-up cost or monthly fee.
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