In a transformation as profound as that from pony express to email, Check 21 legislation enabled the deposit and clearing of all types of paper checks -- including business to business checks -- through electronic image transfer. Payroll, corporate, commercial, treasury, travelers and consumer checks can now be digitally imaged, deposited and settled electronically.
Remote Deposit Capture (RDC) brings the benefits of electronic image processing directly to a business location. Advantages of RDC include shortened settlement times; elimination of transportation costs; extended windows for submission, earlier notification of potential fraud; and fewer staff needed for sorting, balancing, bundling and delivering paper items.
It’s simple to get started with RDC. All a business needs are a computer with an internet connection, a check scanner, and a RDC service provider.
Checks are passed through the check scanner which creates a digital image of the check. The image file is transmitted through a secured encrypted internet connection directly to a bank or through an RDC service provider sent on to the Federal Reserve for clearing. Cleared funds are quickly settled to a current business depository account.
The entire clearing and settlement process can be viewed in online. Check images are archived and easily available for retrieval and viewing. Management reports can be created from any variables to help streamline cash management functions.
For more information, contact firstname.lastname@example.org today