Are you tired of making that daily dash to the branch to deposit your checks? With Remote Deposit, you can scan and submit your checks electronically from the convenience of your place of business. No more wondering whether traffic or bad weather will delay timely posting of deposits. No more trips to the branch. No more waiting in line. No more playing "beat the clock."
Depositing your checks remotely is largely made possible by new " check21" legislation. Recently signed into law, check 21 gives us the opportunity to replace labor-intensive, paper-based check processes with quicker, safer , image-based handling and clearing services. The result will be faster deposits, more efficient collections, and tremendous convenience for you and your business.
What is Check 21?
"Check 21" is shorthand for the checking for the 21st Century Act, a new law that took effect in
October 2004. Check 21 makes a "substitute check" by copying images of the front and back of the original check with additional routing information. Check 21 makes it possible for a business to deposit checks remotely and electronically with its financial institution.
What is Remote Deposit?
Remote Deposit is a business customer's ability to capture the images and transaction information of checks accepted for payment and deliver this information electronically to a financial institution in a format such that the checks can be processed as if the original items had been physically received and captured. These electronic items can then be delivered to other financial institutions via an approved file format.
Do I need to buy additional hardware or software to use remote deposit?
Remote deposit is simple. There's no software to install, no computers to upgrade, and no PC to dedicate exclusively. All you need is an internet-enabled PC with a browser and the check scanner we provide.
How does Remote Deposit work?
You accept check payments from your customers. Using Remote Deposit, you scan and submit those checks securely over the internet to us. We pick up your remote deposits and process the checks accordingly. It's just that simple.
