scan checks remotely electronically deposit and clear you get your money faster your location bank
TRANSCRIPT
Scan Checks Remotely
Electronically Deposit and Clear
YOU GET YOUR MONEY FASTER
Your LocationBank
Check received, opened, data entry and information uploads to the accounts receivables, customer, and other databases.
Deposit prepared including counting the number of checks and adding the value of checks at least twice to ensure accuracy.
Deposit is physically transported to bank for deposit.
Consumer mails payment to you
Up to 5 days for deposits, clearing, & settlement
Check received via mail or at a payment center
Paper check and transaction data converted to electronic image
Federal Reserve clears
Processor compiles files and submits to Federal Reserve
Money settled to existing depository account
Governed by complicated NACHA rules
ACH network is batch oriented
Slower money settlement
Additional work needed to separate checks
ALL CHECK TYPESBusinessCorporateGovernment
ConsumerCashierTravelers
Your enterprise application, or utility software
Checks are scanned into the imager either individually, at the point of payment, or in bulk
The scanner is connected via USB. The scanner creates TIF Images of the checks. Images are sent via secure connection over internet to secure server where images are analyzed to be certain that it is a legitimate and has the necessary attributes for successful image processing. Images sent to the Federal Reserve. Cleared funds settle to your existing bank account.
High-speed Internet or LAN
RDC Platform with
Image Archive, Transaction Management,
and Export Utilities
FederalReserve
Bank
Your Depository
Bank
Locations
Volumes
Values
– In a POS environment, an authorization message is returned indicating the acceptance of the transaction within approximately three seconds
– In a bulk processing environment the check images can processed individually or compiled into a batch which can be reviewed, edited, coded and submitted
at your option
Fast Settlement for increased cash flow and improved credit ratingReduce transportation costs with fewer trips to the bank & reduced courier or mail feesIncreased Productivity Save time processing checks, creating and making bank deposits, correcting errors, categorizing payments, applying payments to billing files or registers and maintaining detailed records and copies of payments. Extended deposit deadlines– Deposits up to 8:00 PM EST
Improved disaster recovery Permanent archive of check images Eliminate sorting, storing, or managing physical checks
Consolidated bank accounts Reduce analysis, reconciliation, and management fees
Streamline Operations Fast recording and accounting of receipts and payments Eliminate manual entries through unique Optical Character Recognition
that instantly reads all hand written items on the check Verifies the account and account holder Quick capture of fraudulent checks
Accurate Electronic Cash Letters
Clear image software (CAR/LAR) on server (not scanner)
Ensures accuracy in files and cash letters
Eliminate Manual Endorsements
Endorsement automatically placed on the check image
Processing Platform
Check 21 RDCPaper to Electronic
ACHechecks
direct debitCredit Cards
WEB
Point of Sale
Telephone
Mail or
Lockbox
Processing Platform
• Transaction Reports by day, batch, week, month, year, client, purpose or ledger category
• Select any transaction to see the images appended to that transaction and other transaction detail
• Daily Transaction Report notifies Client of any Returned Items and displays total batch for the day
• Images and details become part of permanent archive• Daily batch review
•Easily create purposes and apply ledger account codes
•Payments can be coded by purpose, ledger account and more. Other data, notes, payer information and an accompanying image can be appended to the transaction and stored in the archive.