Remote Deposit is an “electronic check” courier service for business customers that eliminates the inefficiencies, costs, and time associated with manual deposit processing.
What Types of Businesses Do Remote Deposit Benefit?
Any business that receives and deposits checks.
What are the Benefits of Remote Deposit?
- Convenience – no more daily trips to the bank
- Secure Transmissions – reduced risk
- Easy and Cost-Efficient – reduces employee time, travel expenses, etc.
- Improved Cash Management and Funds Availability – funds clear sooner in some instances
- Faster, Safer, Easier Banking – peace of mind in knowing deposits are made daily
How Does Remote Deposit Work?
- The business scans the checks and electronically submits them to the Financial Institution using the provided software.
- The financial institution receives the images and processes them as a deposit to the business’ account.