Alternatives Federal Credit Union has partnered with The Small Business Authority, powered by Newtek to bring Remote Deposit Capture to your business.
Remote Deposit Capture is a service that allows a member to use a certified RDC scanner to capture images of checks and deposit them electronically. With RDC, members can accept all U.S. checks including consumer, corporate, cashiers, third-party and money orders. Both consumer and non-consumer checks are deposited in accordance with Federal Check 21 legislation through a single process without the need for separation of checks.Member Benefits of Remote Deposit Capture:
- Accelerated Clearings: Eliminate the need for checks to be transported to the bank. Reduction of the transportation time from the total processing lifecycle of a check provides more time for the corporation to process the checks
- Improved Availability: As more banks begin to use image exchange for clearing, as well as other check-21 enabled products from the Federal Reserve and others, clearing capabilities and success rates will improve
- Enhanced Cash Flow from Cash Management Operations: Accelerated clearings and improved availability result in improved cash flow and working capital for the merchant
- Reduced Return Item Risk: The faster an item clears, the faster merchants learn about return items
- Reduced Transportation Costs/Convenience: Substantial savings can be gained from reductions in transportation expenses
- Reduced Processing Costs: Eliminates the time and expense of traveling to the bank, and the time spent balancing the deposit and associated keying
The Remote Deposit solution also provides quality control checks, multi-location review and control, software-aided customer information capture, archiving of deposits and check images, and downloadable reporting.