Remote Deposit Capture Saves Time, Money & Increases Cash Flow
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Tired of making trips to the bank? Are you looking for a way to save your business time and money? Remote deposit capture gives your the ability to securely deposit your checks right from your desk.
What is Remote Deposit Capture?
Remote Deposit Capture (RDC) is a service which allows a user to scan checks and transmit the scanned images via their computer to a bank for posting and clearing. The basic requirements for an RDC service include a PC, an internet connection, a check scanner/imager and a service provider. Checks you receive at your corporate or bank location can be scanned to create a digital deposit. This digital deposit is then transmitted to your RDC bank or service provider who then accepts the deposit, posts the deposit to your account and assigns availability based upon your availability schedule.
Recent legislation in the USA commonly referred to as “Check 21” makes this entire process possible. Passed in October 2003 and implemented in October 2004, this legislation allows banks to clear checks based upon images of the original items, instead of having to transport the original check all the way back to the paying bank for clearing. The benefits of RDC can be substantial: convenience, reduced transportation risk & cost, better availability, processing efficiencies, the ability to consolidate banking relationships and more.
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The Benefits of Remote Deposit
Increased Cash Flow
- Access to Deposits the next business day
Save Time
- Eliminate Trips to the Bank
Reduce Expenses
- Electronic image transfer means fewer trips to the bank, saving transportation costs and eliminating courier and/or mail fees
Expanded Banking Hours
- Cut-off time for Deposits is 8 pm EST
Banking Independence
- Our RDC program allows you to have multiple accounts with multiple financial institutions
Online reporting
- Complete deposit processing detail for each transaction is available online
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Eliminate Bounced Checks with Check Verification
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Worried about bounced checks? Want to eliminate the problem and guarantee your funds are deposited? Our check verification and guarantee programs can help. Click here for more information on our programs.
For more information on and common terms and definitions for check guarantee click here