Using a desktop scanner and your PC, all you do is scan your checks. The image of each check is captured and electronically transmitted to us through the Internet for processing. You don’t even have to prepare a deposit ticket; the system automatically creates a deposit ticket for you.
You can scan checks several times a day or wait until the end of the day. You receive same day ledger credit for deposits received by 6:00 p.m. (EST) on a business day. Deposits received after 6:00 p.m. (EST) or on a non-business day receive ledger credit the next business day.
You are required to securely store the original checks for a period of time before shredding them. Images of your checks are available for viewing and printing for 30 days after your deposit is made.
What type of business will benefit from using remote deposit capture?
- Any business that sends an employee to the bank (ex: doctors, lawyers, retail)
- Any business where it’s hard to get to the bank (ex: landscapers)
- A business that takes in checks later in the day (ex: title companies)
- Businesses with multiple locations and the ability to consolidate their bank deposits (ex: property management companies, CPA firms)
- Businesses that are not located near one of our community offices
- Businesses that are using a courier service or mailing their deposits to the bank
How will I benefit from using remote deposit capture?
- Frees up time for employees who make the trip to the bank
- Saves transportation fees – employees or courier
- No need for multiple bank relationships
- Operational and accounting efficiencies
- Greater security
- Easy and convenient to use
What do I do to get started?
A National Penn Cash Management specialist will discuss different types of scanners available for you to purchase. We’ll place the order and your scanner will be shipped directly to you. A National Penn representative will install the scanner and provide training on how to use remote deposit capture.
Call Cash Management Support at 1.888.271.1666 and they will put you in contact with a Cash Management sales representative in your area.
