Remote Deposit Capture

Remote Deposit Capture
Wednesday, November 11, 15

What is Remote Deposit Capture?
Remote deposit capture (RDC) is an increasingly popular service that
enables businesses to scan any type of check, as well as money orders,
and transmit the images to a bank for posting and clearing. A growing
number of businesses are adopting RDC to expedite their check
depositing process, saving them time and money.
The process for remote deposit capture is simple. After you receive a
check, just place it in a scanner provided to you by Unity FI Solutions,
then scan it to send it to your bank via an encrypted internet connection.
Your bank then posts the funds to your account and assigns availability.
Adopting a remote deposit capture solution will reduce the number of
return items you receive, allow for earlier fraud detection, cause fewer
data entry errors and greatly decrease your processing costs.

Our Unique Solution
– RDC Deposit Anywhere
Normally, remote deposit capture involves using a
separate scanner for each depositary bank to which a
user is sending checks. Because using multiple
scanners can be very costly and time-consuming, Unity
FI Solutions developed RDC Deposit Anywhere. This
solution allows for all checks to be scanned with one
scanner, and then deposited to multiple banks using our
Unity FI Solutions software. This not only saves space in
your workspace, but also helps your business
signiﬁcantly reduce scanner and software costs.
Contact us if you’d like to learn more about speeding up
your check deposits.

RDC Deposit Anywhere
Text

Benefits of
Companies that choose to take advantage of remote deposit capture
stand to gain numerous benefits, including:
• Faster check clearings – because RDC allows checks to be deposited
from the location of your business, there is no need to spend time
transporting checks to your depositary bank. Compared to manual
check deposit, remote deposit capture typically allows businesses to
receive funds two to three days faster. Plus, remote deposit capture is
available to use 24/7, so you don’t have to wait until your bank opens to
deposit checks.
• Improved cash flow – When your checks clear faster, your company’s
cash flow and working capital improve, providing additional flexibility for
your business.

Benefits of
• Lower processing and transportation costs – companies that use remote
deposit capture save money on multiple fronts. Expenses associated with
traveling to the bank, such as gas, employee wages to transport the check,
etc., are eliminated. Occasionally, you may still have to take a check to the
bank for deposit, but nearly all checks are compatible with RDC scanners.
Additionally, remote deposit capture recognition software can extract data
from checks to reduce or eliminate the amount of time it takes to manually
key information.
• Expanded banking options – remote deposit capture expands your
business’ banking options by eliminating the need to bank with a financial
institution near your place of business. You no longer have to find a bank
whose physical location is convenient for check deposits. By removing these
geographical constraints, you can begin looking for a banking relationship
anywhere in the nation and find the one that works best for you.

Beneﬁts of
• Reduced return item risk – since remote deposit capture results in
faster check clearings, you’ll know about return items sooner, giving your
business more ﬂexibility in collecting on these items.
Many customers choose to couple our remote deposit capture solution
with our check guarantee solution. This enables you to use your RDC
scanner to send us return items, which we’ll re-present for you (up to two
times) and collect the money owed to you.

What You Need for
RDC requires very little setup.
To get started, you’ll need:
• A check scanner (which is provided by Unity FI
Solutions)
• A depositary bank to receive the check images
• A computer with a secure internet connection
• Software from your RDC provider – Unity FI
Solutions provides this to all of our remote deposit
capture clients
• Updated legal agreement

Remote Deposit Capture Risks
Despite being a relatively new technology,
remote deposit capture holds limited risks for
users. Using an encrypted connection limits the
risks associated with transferring your check
images over the internet.
Financial institutions using remote deposit
capture should consult all FFIEC guidelines
regarding Internet banking before using the
solution.

Remote Deposit Capture FAQ
How long does it take to get remote deposit capture set
up at my business?
After signing all the necessary agreements, we can have
the solution up and running at your company in just ﬁve
business days.
What are the typical savings for businesses using
remote deposit capture?
The savings you’ll realize from using remote deposit capture
vary from business to business. It largely depends on the
number of checks you regularly deposit and how frequently
you’re used to going to the bank to do so.

How much does a remote deposit capture
solution cost?
Unity FI Solutions tailors its products to meet each
individual client’s specific needs. So, the cost of
remote deposit capture varies from business to
business. However, our remote deposit capture
solution is typically less expensive and more flexible
than those from banks. Give us a call, and our
experienced team will discuss how we can
customize a solution to fit your requirements.

Why not just get a remote deposit scanner from
my bank?
Although most banks offer remote deposit scanners for
businesses, Unity FI Solutions provides one scanner
that works with all banks. So, if your business needs to
deposit checks into more than one bank, our solution
saves you both money and space.

How do I receive my scanner?
For faster and smoother set-up, we recommend our
clients purchase a scanner through us, and we will
deliver it. If your business already has a scanner and
wishes to reduce costs, we will do our best to make
your existing scanner work.
Other questions? Just reach out to our support team.
They are ready to answer any questions that you have
and walk you through the process of becoming a
remote deposit capture user.

Remote Deposit Capture

More Related Content

Recently uploaded

Featured

Remote Deposit Capture