Remote Deposit

With Remote Deposit, you can scan and submit your checks electronically from the convenience of your place of business. No more wondering whether traffic or bad weather will delay timely posting of deposits. No more writing out deposit slips. No more trips to the branch. No more waiting in line. No more playing “beat the clock.”

What does this mean for you? Your valuable time is not spent traveling to and from the branch, allowing you to focus on growing your business.

How does remote deposit work?

The deposits are scanned at the company site, submitted to the Bank via a secure website and retrieved by the Bank from a similar secure website. The file can be sent to a MICR printer that creates substitute checks.

What is a substitute check?

It is a paper reproduction of the original check, and:

  • It contains an image of the front and back of the original check.
  • It bears a MICR line containing all of the information appearing on the original check.

Are funds available faster?

Only if deposits are submitted daily. As more banks become ready to trade electronic files, the processing time will decrease, resulting in quicker availability. The funds are not memo posted, so will not be reflected in the available balance.

Contact your local American State Bank branch for more information about Remote Deposit.

 

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