The cost of processing "electronic" payments are increasing. New credit/debit card rules are creating a resurgence in the use of paper checks.
Remote deposit is a low-cost method to process check payments without delivering checks to the bank. With remote deposit, you can scan an image of a check, send the image to your bank and see the funds added to your account more quickly.
Girard’s has many levels of Remote Deposit ranging from simple check-only processing to a full accounts receivable conversion, which includes scanning the returning remittance slips with the checks and creating a AR posting file as well as the electronic bank file.
Reduce staff time
- No need to create a deposit ticket for the bank
- With the full accounts receivable conversion time is reduce when entering data payment information into the accounts receivable system
Reduced transportation cost
- Courier fees and/or trips to the bank are reduced or eliminated
Electronic deposits clear the banking system faster
- Ensures quicker access to deposited funds
- Faster notification of returned checks
Bank fees are generally less for electronic deposits than for physical deposits
Customer service enhanced
- The information and images are stored and available for research
- Images and information can be searched from any computer
Flexibility
- Deposits can be made any time of the day (note: most banks have cut-off times for same day credits)
- All departments can process their own checks
- Deposits can be made by each department or lumped into one deposit for the organization
- Multiple accounts can be scanned and tracked with one or multiple scanners
There are two forms of remote deposit solutions, thick or thin client.
Thin Client - images and information is stored on a secured server maintained by the manufacture
Advantages:
- Software is loaded and maintained on the manufacture's system
- Software can be accessed from any computer
Thick Client - images and information is stored on a server maintained by the client
