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Remote deposits: End of the daily bank run?

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in Office Technology

The days of scurrying off to make a bank deposit (or sending an employee to do it) may be numbered.

After a slow start, banking technology that lets businesses deposit checks electronically and remotely is now taking off, and smallbusiness banks are leading the charge.

With remote-deposit capture (RDC), businesses use a desktop device—typically provided by the bank—to scan received checks electronically and securely transmit the scanned images to their bank for deposit.

It saves time (and gas) by eliminating the need for daily runs during business hours to bring paper checks to the bank. And it also narrows the gap between the time a business receives a check and the time it has access to the actual funds.

RDC is proving to be so successful among large national banks that smaller regional banks are getting into the action. Example: Two-year-old Heritage Bank, a community bank in Topeka, Kan., now o...(register to read more)

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