Remote Deposit Capture
This service allows you to scan and deposit checks from your office and send them to the bank electronically. The Bank provides and installs the compact desktop scanner to your computer and provides training in your office. Remote Deposit Capture provides a more convenient way to make deposits, allows you to receive your funds faster and improves your working capital.
Remote Deposit is like having the bank in your office!
Is Remote Deposit Capture right for you?
- Do you typically make deposits after banking hours?
- Do you have multiple business locations receiving checks and needing to make deposits?
- Is staff time being utilized to drive to the bank to make deposits?
- Does your business receive a high volume of checks or large dollar amounts each month?
- Are you looking for a way to eliminate the manual process of preparing your deposits?
- Would you like to save time and money by reducing or eliminating courier costs or branch visits?
- Is your business not within close proximity to a Golden State Bank office?
If you answered “yes” to one or more of these questions, Remote Deposit Capture services are perfect for your business!
Save time and money
Increases staff efficiency and productivity—depositing your checks takes just minutes and eliminates the time and expense of driving to the bank.
- A cost-effective alternative to courier services
Simplify your Banking
- Eliminates the need to fill out deposit slips or photocopy checks
- Easy to scan, submit and research item
- Provides a deposit archive complete with images of checks deposited
- Streamlines your bank relationships so that deposits from multiple locations can be consolidated into one account
Improve cash flow
- Same day credit for most deposits; next day credit for deposits with out-of-area checks
- Improves your cash flow and maximizes interest earnings by speeding up the check-clearing process
Reduce fraud risk
- Assures deposits are being made daily
- Reduces fraud risk by identifying return items sooner which further improves the collection process
Bank at your convenience
Bank on your time—transmissions can be sent 24 hours a day, 7 days a week. There is no need to worry about getting to the bank before closing time.
How does it work?
1. You collect your checks as always but now there’s no need to prepare a deposit slip or bundle your checks.
2. A multiple check, tabletop scanner that is attached to your computer will capture images of each check.
3. After scanning, you will enter the total number of checks and the total batch amount. The system will automatically calculate the amount in lieu of manual entry.
4. When the deposit is balanced, the check images and related data will be sent to the bank via the Internet. Once we receive your file, the deposit is processed and credited to your account.
How do I get started?
Contact us to enroll and order your scanner. We will arrange an appointment in your office to provide set-up services and staff training on the Remote Deposit Capture system.
Remote Deposit Capture: Frequently Asked Questions
Q: How late can I send an electronic deposit and still get same day credit?
A: By 5:00 pm on a business day. Deposits completed after 5:00 pm or on a non-business day will be posted on the next business day.
Q: What if I have multiple locations that want to make deposits?
A: Each location will need to have a remote deposit scanner. You will designate an administrator to approve each location's deposit file.
Q: What types of checks can I deposit electronically?
A: You can deposit corporate checks, consumer checks, cashier’s checks, third-party checks and money orders.
Q: How long will deposit history be stored on my computer?
A: 90 days
Q: What do I do with the checks after submitting an electronic deposit?
A: You will be responsible for securely storing the checks. After a reasonable amount of time, determined by your business policy, and then shred the checks.
Q: What is the cost for Remote Deposit services?
A: There is a one-time fee to purchase the scanner (cost is based on the type of scanner that meets your needs). Monthly, a $75 service fee will be assessed. These fees can be offset by earnings credits received on your commercial account balances at the bank.