TECHNOLOGY ALLOWS FOR REMOTE DEPOSIT OF CHECKS

On-Site Deposit in its most simple terms, is a service which allows a user to scan checks and transmit the scanned images to the bank for posting and clearing from the convenience of their own office. The service, which requires very little in the way of setup or extra equipment, allows checks to be deposited and cleared electronically, without ever physically needing to be delivered to the bank.

Legislation commonly referred to as “Check 21” makes this entire process possible. It 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 On-Site Deposit can be substantial. They include:

• Increased convenience

• Reduced transportation risk & cost

• Better availability

• Increased processing efficiencies

• The ability to consolidate banking relationships

• The ability to deposit at your convenience

To view a video demonstration of this service click on the link below.