First of Its Kind: Digital Check Functionality Launched by Bank Shot

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Bank Shot (getbankshot.com) continues to establish itself as the leading innovator in mobile payments by being the first and only solution on the real-estate market that offers digital checks as a payment option. This feature is added to the arsenal of its other fast, safe, and compliant payment methods that the customers are using to send and receive earnest money and other real estate funds.

With the average age of the modern homebuyer being 33 years old, paper checks are quickly becoming obsolete in real estate. Bank Shot’s digital checks bring homebuying into the 21st century by giving consumers a faster and more convenient option than a paper check, which is also much 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,” said Emily Traxler, CEO, Bank Shot. “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 home buying experience with us is simple and gives everyone peace of mind.”

The digital check feature is now available to all Bank Shot mobile app users, both Apple and Android. The setup process is easy. Just connect to your Bank Shot app and fill out the requested information, and the digital check is created and sent.

“We have an exceptional product, and we’re always excited to find new ways to innovate and make our customers’ lives easier,” said Emily. “Rest assured, with every new feature, we remain committed to providing the highest level of cybersecurity for our customers.”

Earnest money payments, including digital checks, sent and received by Bank Shot’s mobile app are good funds. And all funds will be protected with Bank Shot’s Check 21 standards and two-factor authentication (2FA) methods. Furthermore, the patented stop light technology process will ensure that no transactions take place until the account holder decides to move forward with the deposit.

Stop sending wires, and see for yourself why thousands of buyers and agents trust Bank Shot for their home payments by requesting a demo here.

Bank Shot is a partner of Rule 1 Ventures, a venture studio that supports growing companies and brings over 50 years of collective experience in title, real estate, and FinTech development, security, legal and design.