Remote deposit capture enables all types of paper checks, including business, payroll, personal, treasury, and money orders, to be scanned and transmitted electronically. Images are cleared through the Federal Reserve and funds settle to your account the next business day.

Remote deposit capture is particularly valuable for money service businesses, check cashing locations, utilities, insurance, manufacturing, distribution, rental companies, and any business that receives a lot of checks.

Benefits of Check 21 Remote Deposit Capture

• Next day settlement. Transactions submitted by 8 pm EST are settled to your account the following morning. Accelerate cash flow and increase net working capital for your business.
• Saves time and money. Eliminate time consuming trips to the bank and save on transportation costs.
• Increase productivity. Eliminate error-prone manual labor of check preparation. Automating check deposits enhances the smooth flow of your business operations.
• Expanded banking hours. RDC expands the banking hours in your day by 50%. In an amazing gift of time, RDC deposits can be made up to 8 pm EST freeing you from worries about meeting a 4 pm cutoff time. Deposit checks anytime, including nights, weekends, and holidays from the comfort your office.
• Decreased fraud risk. Shorter clearing times offer better protection against check fraud. RDC includes anti-fraud algorithms and security checkpoints to protect your business.
• Online check image archives. Easy search and retrieval for any image transaction and simple to recover and share payment documentation with customers.
• Full online reporting. A vast array of management reports can be compiled quickly.

Banking Independence. Use any financial institution desired as a depository account for the ultimate in flexibility. No new bank accounts are required. If you wish to change banks at any time, continuity of RDC clearing is assured.

How does a Remote Deposit Capture transaction process flow?
Remote Deposit Capture is easy. All you need to start is a check scanner and internet access. The process is browser based.

• Businesses receive paper checks for payment via mail, at their business location or at a payment center
• The original check is scanned and converted to an image known as an Image Replacement Document (IRD)
• The IRD and transaction data is securely sent to the Federal Reserve network for clearing and settlement

The check writer’s account is debited and cleared funds are deposited into the business’s depository account.

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