Remote Deposit Capture
Remote Deposit Capture allows you to make deposits of paper checks right from your desk, without ever having to leave the office. With Stillman Remote Deposit Capture, you just point, click, scan and confirm.
What Are the Benefits of Remote Deposit Capture?
- ✔ Convenience. Do your banking when you want while eliminating frequent trips to the bank by making deposits directly from your computer.
- ✔ Efficiency. Save time and money by reducing trips to the bank and avoiding overdraft fees. You can cut down labor-intensive manual deposit prep time, plus the stored digital images save you valuable office space.
- ✔ Cash flow. By making electronic deposits, your transactions may be processed more quickly, making your funds available sooner.
- ✔ Peace of mind. Returned items can be identified sooner, reducing the risk of fraud.
How Does Stillman Remote Deposit Capture Work?
After your equipment is installed and training is provided, you are ready to start using Stillman Remote Deposit Capture.
- ✔ Step 1. Accept check payments from your customers and vendors.
- ✔ Step 2. Using Stillman Remote Deposit Capture, scan and submit checks securely using our online platform to us.
- ✔ Step 3. We receive your remote deposit and process the checks either by ACH (Automated Clearing House) or IRD (Image Replacement Document).
That’s all you need to do to have quicker deposits and added convenience for you and your business.
Easy to Implement, Easy to Use
Stillman Bank provides you with the equipment you will need to get started. The scanner (check image device) captures crisp, clear images of each item in a single pass. The checks are then converted to digital images and electronically delivered to Stillman Bank for processing.
What Are the Costs?
Fees for Remote Deposit Capture depend on the volume of checks scanned daily:
- ✔ Low-volume entity (scanning one check at a time). $325 for the scanner, plus $39.95 per month for up to 500 checks.
- ✔ High-volume entity (scanning multiple checks at a time). $600 for the scanner, plus $89.95 per month for up to 500 checks.
In both cases, a $0.10 charge applies for each additional check deposited beyond the 500-check level. Payment plans are available for the scanner.
When Are Deposits Processed?
Deposits processed and sent prior to 5:00 PM Monday through Friday will be processed the same day, with funds credited to your account the next business day. Items received after that time will be processed the following day.
Deposit Checks from Your Phone with Remote Deposit Anywhere
In addition to desktop Remote Deposit Capture, Stillman Bank also offers Remote Deposit Anywhere (RDA), letting you deposit checks right from your smartphone using the Stillman Bank Mobile App.
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Frequently Asked Questions
+ What kind of checks can be deposited with Remote Deposit Capture?
Any check that’s issued by an American bank in U.S. dollars can be deposited using Remote Deposit Capture. This includes business checks, personal checks, traveler’s checks, and money orders.
+ What would cause a check to be rejected by Remote Deposit Capture?
A check could be rejected if it’s torn or otherwise damaged, it’s a duplicate of another check that you’ve already deposited, you’ve failed to endorse the check, and other reasons. Every check must have your business name in the Paid to the Order line, the amount, the payor’s signature, and be endorsed by you before it can be deposited.
+ What happens if Remote Deposit Capture rejects a check?
We’ll notify you of any checks that are rejected so you can address the issue.
+ Can I use my own scanner for Remote Deposit Capture?
We can provide you with a scanner, but you may use your own as long as it’s TWAIN compliant.
+ Is there a fee for using Remote Deposit Capture?
Yes, fees depend on check volume. A low-volume entity (scanning one check at a time) pays $325 for the scanner and $39.95 per month for up to 500 checks. A high-volume entity (scanning multiple checks at a time) pays $600 for the scanner and $89.95 per month for up to 500 checks. A $0.10 charge applies per additional check beyond 500, and payment plans are available for the scanner.
Contact Our Treasury Management Team
If you’re interested in setting up Remote Deposit Capture in Northern Illinois and Southern Wisconsin, or if you have any questions, please contact our Treasury Management team.