News & Events

News Hub

Banks prefer remote deposit capture via check scanners

Dual-purpose cash and check scanners benefit from remote deposit capture.

Many businesses, including banks, still rely heavily on checks and cash to receive payment for services rendered, and two-in-one cash and check scanners are a great tool in this respect. They quickly and efficiently count through cash bills, regardless of the denomination, and they can even detect counterfeits. More importantly, they perform remote deposit capture, which allows companies to deposit checks they receive without a bank run. It makes it far easier to get money from paying clients, and it allows firms to get their money far more quickly as a result.

Remote deposit capture popular among check scanner users

The convenience of remote deposit capture is apparent among many companies that already use it, despite the inherent costs and some of the risks involved. RemoteDepositCapture.com conducted a survey of consumers and financial professionals alike about the process. The study found that 84 percent of respondents said the technology's benefits far outweigh the negatives, while an additional 13 percent found that the advantage was at least marginal.

On top of that, a more formal study of 320 financial institutions discovered 92 percent of respondents said that remote deposit capture's positives outweigh its costs and risks, with 53 percent saying the advantage was vast. RemoteDepositCapture.com told Digital Transactions the reason for this large level of support is that banks are comfortable taking a higher level of risk with these services. Many of the early predictions about remote deposit, particularly those regarding duplicate deposit fraud, have not come to complete fruition. This helps propagate the sense that RDC is an acceptable and useful technology to process payments.

There are still some best practices businesses and financial institutions should follow when using remote deposit. The main issue is developing a process of preserving checks for record keeping, as well ensuring that businesses can address errors in processing when they appear. A machine that can perform remote deposit capture quickly and effectively can help make this process easier. That's why having a dual-purpose cash and check scanner can assist stores, firms and other companies perform RDC in a way that is quick, effective and error-free. A marketing company, for example, can process multiple invoiced checks at once, enabling a complete deposit without having to wait for each check to clear. This provides a high level of efficiency and faster access to cash flow.

10/02/2015