Bank Shot, a check deposit app developed by Drake Realty in Atlanta, is both fast and functional, providing a simple way to secure funds via check for any form of real estate transaction, including earnest money and monthly rent.

  • Agent-developed apps often excel at solving actual industry challenges.
  • With Bank Shot, a check deposit app for iPhone and Android developed by Atlanta's Drake Realty, users can secure funds via check for any form of real estate transaction.
  • Agents and brokers pay no monthly or setup fees, only $1.50 per deposit.
  • The app is available nationwide.

Have suggestions for products that you’d like to see reviewed by our real estate technology expert? Email Craig Rowe.

Bank Shot is an app that captures, processes and deposits checks for all types of real estate transactions.

Platform(s): iOS and Android
Ideal for: All agents

Top selling points

  • Applicable to all lines of real estate business
  • Information capture adapts to transaction type
  • No setup or monthly cost ($1.50 per deposit)
  • Developed by real estate agents

Top concerns

  • Adoption by more traditional agents
  • Ongoing support
  • User experience lacking

What you should know

Bank Shot, a check deposit app developed by Drake Realty in Atlanta, is both fast and functional, providing a simple way to secure funds via check for any form of real estate transaction, including earnest money and monthly rent.

But the check-capture process lacks direction. I was stumped when trying to deposit pictures of pine cones on my deck.

The identical icons at the bottom of the interface, which drive the deposit process, change with each transaction type, but not according to each step within the transaction.

bankshot_depositdetails

The odd terminology (Actors?) and lack of visual distinction had me staring at the screen for a couple of minutes.

But, I’m willing to forgive the unappealing interface because once I solved it, everything else flowed nicely.

I’ll also forgive it because I like to give credit to real estate agents who go after a problem and tackle it effectively with technology.

Switching between transaction types

The information requested by the app during a deposit changes to match the transaction type.

bankshot_deposittype

When sending rent, for example, a tenant is asked what month it’s for, if it’s late and whether additional funds are enclosed. The app also provides a note section to explain why.

For earnest money, BankShot asks for information from all agents and clients involved (as well as pertinent transaction dates) before the check images are captured.

Accounts, broker oversight and bank details

Any number of bank accounts can be connected to each user and only brokers are allowed to initiate the final submission to the bank.

The company is working in Atlanta with Wells Fargo and U.S. Bank, among others.

Any number of bank accounts can be connected to the Bank Shot app.

On the backend, brokers can peruse the status of any deposit; look at the images; hold checks; review all parties, dates, and amounts; and download reports at their discretion.

bankshot_depositdetails2

I find BankShot to be a smart, functional solution to the various delays and burden of handling paper checks during a real estate transaction.

While it may not look like it was developed by Apple designers, it certainly belongs on agents’ iPhones.

And their Androids.

Have a technology product you would like to discuss? Email Craig Rowe.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
The best of real estate is gathering in Las Vegas NEXT month! Grab your ticket before prices go up on October 1.Register Now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription