Remote Deposit Capture, in its most simple terms, is a service that allows a user to scan checks and transmit the scanned images and / or ACH-data to a bank for posting and clearing. Recent legislation in the USA, commonly referred to as “Check 21,” makes this entire process possible. Passed in October 2003, this legislation allows banks to clear checks based upon images of the original items, instead of having to transport the original check all the way back to the paying bank for clearing.
The basic requirements for an RDC service currently include: a PC, an internet connection, a check scanner and First Payment Services. Checks you receive at your business location can now be scanned to create a digital deposit. This digital deposit is then transmitted (usually over an encrypted internet connection) to FPS who then accepts the deposit and posts the deposit to your account.
Remote Deposit Capture is often considered one of the most important banking developments for merchants in many years. The benefits of this new service include convenience, better deposit availability, reduced cost and lower risk.
Click here to view an online demonstration of Remote Deposit Capture