What is Remote Deposit?
Remote Deposit allows Meadows Bank commercial customers to deposit checks from the convenience of their office. With Remote Deposit, you can scan and electronically deposit all forms of paper checks. This includes commercial, cashiers and personal checks as well as money orders.
How does Remote Deposit work?
- With a desktop scanner and software, you create an image of the front and back of each check for deposit.
- Before transmitting the deposit, you balance the deposit dollar amount to the sum of the checks, ensuring accuracy and reducing the chance of adjustments.
- The deposit is then electronically transmitted to Meadows Bank through a secure Internet connection.
What are the benefits to you?
- Ability to export captured data into custom formats.
- Accelerated check clearings.
- Allows companies to consolidate banking from several regions since proximity to the bank is no longer an issue.
- Allows you to deposit daily, even when a deposit is small.
- Deposits can be made to multiple accounts.
- Dual control and security procedures on deposit preparation can be customized to meet your requirements.
- Eliminates a trip to the bank and potentially waiting in line.
- Eliminates the need to photocopy checks and make deposit tickets.
- No expensive technical requirements.
- Reduced Return Item Risk
- Reduces the company’s liability and improves the security for your employees when they are not involved in transporting deposits.
- You will have a permanent electronic file of all checks and deposits.
How secure is Remote Deposit?
Meadows Bank Remote Deposit stringently adheres to industry standards regarding security. All sensitive data is encrypted and access requires passwords that only you know.