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Submitted questions will be answered by an Arvest banker and may appear on the Arvest Blog.

What is Remote Deposit Capture and is it right for my business?

Monday, March 30 at 10:09 AM

Remote Deposit Capture can help you save time handling your checks by sending your check deposits to the bank remotely—allowing you to focus on your business and submit deposits on your schedule. With Remote Deposit Capture you can:

•    Convert paper checks into electronic images, which have the same legal standing as the physical checks
•    Deposit scanned checks online, enabling funds to more quickly move from the check originator’s account to the depositor’s account
•    Scan checks received for deposit to your business account, using a check scanner available at setup
•    Ensure image quality with the system’s courtesy/legal recognition software that automatically prefills dollar amounts and reduces key entry
•    Verify and approve the deposit, and submit to Arvest Bank for processing at or before the daily cutoff time. Deposits are then credited to your account.

Arvest Remote Deposit Capture is ideal for your business if you deposit large dollar checks, make frequent deposits, cannot leave during the business day, are not physically located near an Arvest Bank location or if you have trouble meeting deposit deadlines.  A common misconception is that only large businesses can use Remote Deposit Capture, but in fact even small businesses can benefit from this time-saving tool.

View an online demo for Remote Deposit here for a visual presentation.

Visit our website to learn more about Remote Deposit, or contact your local Treasury Management sales associate to sign up today!

 

1 Comment
 
 

Remote deposit is going to change the face of banking and is a great benefit to both the bank and the companies that use it.  This is one of those emerging technologies that should be considered by many more companies.

YOU DON'T HAVE TO BE "TECH SAVVY" TO USE THIS!  Your banker will help you!

One of the greatest benefits which isn't listed here is the ability to access a record of your transactions online.  If done right, you will have more audit control and be able to see more clearly what is happening from a strategic perspective for your business. 

You should contct your banker today and even if they can't explain it completely, get to someone who can. 

 
Russ Knight on 5/6/2009 at 9:02 AM
 
 
 
 
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