Scan those checks. Don’t chauffeur them! (Remote Deposit Capture can be great)

By Frank Nuck, Financial Control Solutions

Technologically speaking, Remote Deposit Capture (scanning/depositing checks remotely) is not new. The $64K question… the one you might consider… is whether your organization’s life can be made less costly, easier, or more effective by, 1) scanning all of its checks to be deposited at a central location, 2) eliminating paper check inventory and check handling, and/or 3) importing checking deposit/customer information into it’s enterprise/accounting software to enhance or newly create checking-related information.

Benefits include:
– Reduction/elimination of depository trips or the need to courier checks
– “Scanability” from multiple banks to any one bank (interbank comparability)
– 24-48 hour maximum actual clearing
– Exportability of depository information via Excel, CVS, or PDF file formats
– Secure data transfer: 128 bit triple DES SSL protection
– Auditing of all depository information by iStream Financial before deposit
– Possibility of reduced banking expenses

It may be time to eliminate the time consuming and inefficient process of managing paper checks. Billing offices, property managers, or any other organization that manages multiple depository locations either for operational or banking reasons may want consider RDC. Investigate how much you are paying to manage your paper checks now… or call us an we will help you figure it out. Then compare. The difference in your firm’s operational life could be huge!

For more information about Remote Deposit Checking services, contact Financial Control Solutions.