Remote deposit has become more and more popular, not only in the consumer banking world, but in business banking as well. If your business is looking for a simple way to save some time, using Remote Deposit Capture may be the solution you’ve been looking for!
Remote Deposit Capture is a way to efficiently process your deposits from the comfort of your home or office. With a desktop application, you are able to scan checks, either single or multiple, through a desktop scanner, providing a quick and accurate deposit process. In addition, Remote Deposit Capture makes it even easier to keep track of all of your financial transactions with the reporting functions available within the system.
Many people are already familiar with Mobile Deposit. They receive a check, take out their phone, snap a picture, and it’s deposited! Though similar in concept, Remote Deposit Capture is done through a check scanner device that is designed for this specific purpose. Business owners can purchase a check scanner, connect it to their computer, and process deposits through a desktop application. From there, you can scan all your checks from the comfort of your own home and office.
There are a variety of scanner options, from single item scanners to multiple item scanners that can scan a large volume of checks, up to 50-75 checks per minute. For most small to medium sized businesses, you can scan all the checks for the day within minutes. Once all of your checks are scanned and deposited, you prominently mark the item as “Electronically Presented” or “VOID” and save in your records for 60 days. After the 60 days is up, properly dispose of the item to ensure that it is not represented.
Business Remote Deposit Capture at ICCU
Our Remote Deposit Capture service allows business members to scan checks to be deposited directly to their ICCU account(s). Deposits can even be submitted 24 hours a day, 7 days a week. Business members can also receive same-day credit if checks are deposited before 5:30pm MST on normal business days. Businesses can also view deposit reports and check copies from their computer, which makes bookkeeping easy. The Business Remote Deposit Capture service is particularly useful for businesses that have a large volume of checks, but many businesses find the convenience of the service the real selling point, regardless of the amount checks! Imagine being able to scan all your checks within minutes, and have them deposited through the online system, from the convenience of your home or office. Businesses are able to save both time and money due to the convenience of Remote Deposit Capture!
Idaho Central’s Remote Deposit Capture service has a flat-rate monthly fee, with no additional fees per item. That being said, you are not being charged more because you have more checks. This allows businesses to know exactly what they are charged, and ease their worries on unnecessary charges. Idaho Central can also assist with purchasing your check scanner, or you can purchase independently. However, you will want to contact our Business Relationship team to assure compatibility with the system.
Remote Deposit Capture is a great option to save your business time, resources, and worry. When your deposits can be made from the comfort of your own home or office, you are prepared for any emergency situation, like a pandemic, and won’t miss a beat in continuing your regular business processes.
At Idaho Central, we strive to serve our business members with convenience and save you time with great business services, so you can focus on your business while we take care of your financial needs. Contact a Business Relationship Specialist today to set up your Remote Deposit Capture service.