2016-12-21 00:00:00 Finance and Accounting English Find out the definition of remote deposit capture and how it helps small businesses with their cash management. https://d1bkf7psx818ah.cloudfront.net/wp-content/uploads/2017/10/08213833/man-makes-remote-capture-deposit.jpg Small Business Terms: Remote Capture Deposit

Small Business Terms: Remote Capture Deposit

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Remote deposit capture is a web-based payment solution that allows for single image capture storage and processing of cheques. This system enables businesses to send images of cheques to a bank for deposit from the location of your business. The bank provides a scanner that can be used to scan as many as 100 cheques at one time. When received by the bank, the deposits are reviewed for verification and credited immediately to the your business account.

The advantages to using remote capture deposit are numerous:

  • Make deposits remotely any time of day or night
  • Eliminate the need for trips to the bank
  • Receive more timely notification of returned items
  • Reduce labor, postage, and operating costs
  • Improve efficiency and profitability
  • Enhanced customer service, convenience, and security

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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