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.