SunTrust Banks said Tuesday that it will extend its deadline for business customers to submit checks electronically to 8:30 p.m., giving clients three extra hours to get same-day credit for deposits.
The Atlanta-based bank said the move gives it a market-leading service for business customers who use its certified check scanners to capture images of checks. The devices allow them to make online deposits without leaving their offices.
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Banks of all sizes have increasingly been offering and upgrading such virtual banking services to compete for business customers. For instance, RockBridge Commercial Bank, a north Atlanta community bank with about one-thousandth of SunTrust's $179 billion in assets, touted its ability to offer such desktop banking last week at its annual shareholders meeting.
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