Remote Deposit Capture
Improve your cash flow, no branch visits required
Scan and deposit CAD or USD cheques from the comfort of your workplace, all on your own time.
| One-time set up fee |
$125.00 |
| Monthly fee | $35.00 per scanner |
| Cheque scanner |
Client is responsible for purchase of own scanner.
|
Frequently Asked Questions
Using Remote Deposit Capture Workflow Duplicate Deposits Security and Risk Retention and DestructionUsing Remote Deposit Capture
What is Remote Deposit Capture?
Corporate Remote Deposit Capture (referred to as Remote Deposit Capture or RDC), allows businesses to deposit cheques to their account using a cheque scanner and capture software from the convenience of their own office. The cheque images and deposit information are securely transmitted to the Financial Institution for processing.
Are cheques processed in real-time or as part of the normal cheque processing?
Remote Deposit Capture is dependent on standard overnight cheque processing to exchange items with other Financial Institutions. There are no rules put in place by the Canadian Payments Association (CPA) for exchanging cheque items in real-time with the other Financial Institutions.
Can the Remote Deposit Capture software detect cheques that are not acceptable for deposits (old dates, unsigned and un-endorsed cheques, for example)?
No, the software only reads the MICR line and the amount of the item. The business customer will be required to verify the cheques are acceptable for a deposit before scanning the items.
Will transmitted deposits be credited to the business customer's account immediately?
Once a Corporate Supervisor user has transmitted the transaction, the deposit is sent for processing. This does not appear on the customer's account until after the standard overnight processing of the deposit. The availability of funds will be subject to your Financial Institution.
Workflow
Can more than one user create deposits at the customer location?
Yes. Anyone assigned the Remote Deposit Capture user (alone or in combination with another role) can create deposits.
Can a single user be assigned the 'Capture' and 'Supervisor' role?
Yes. A single user can have both the Capture and Supervisor roles. Combining the roles into a single individual’s user ID streamlines the user experience by removing some additional steps, but relies on the individual to ensure the deposit is reviewed carefully before completing. Clicking “Complete” on a balanced and error-free deposit for this type of user automatically transmits the deposit for processing. Transmitted deposits cannot be edited, deleted or recalled.
How do customers access Remote Deposit Capture?
Customers can access Remote Deposit Capture through a direct URL that provided during application set-up.
Duplicate Deposits
What happens if the software detects a cheque that has been previously deposited?
Items detected as potential duplicates are flagged with an on-screen alert. These require the Remote Deposit Capture user to review and decide to either delete the item or, if permitted by your Financial Institution, elect to override the duplicate alert and send the item on deposit.
Items detected as potential duplicates are flagged with an on-screen alert and require the Remote Deposit Capture user to review the item and make a decision to either delete it, or if permitted by your Financial Institution, to elect to override the duplicate alert and send the item on deposit.
Items detected as potential duplicates are flagged with an on-screen alert and require the Remote Deposit Capture user to review the item and make a decision to either delete it, or if permitted by your Financial Institution, to elect to override the duplicate alert and send the item on deposit.
Are scanned cheques only compared against items that the business deposits?
No. The Remote Deposit Capture solution will compare cheques deposited at any subscribing Financial Institution with Central 1’s RDC solutions, including mobile deposit, branch capture, and Remote Deposit Capture.
Security and Risk
Are cheque images transmitted securely?
Yes, there are three features to help ensure the application is secure:
The software users are authenticated using Central 1’s secure site authorization and provided access by Cash Management Support. Cheque images are transmitted securely from the capture software using an HTTPS connection, and the Corporation is registered by Cash Management Support with Central 1 to access the application.
The software users are authenticated using Central 1’s secure site authorization and provided access by Cash Management Support. Cheque images are transmitted securely from the capture software using an HTTPS connection, and the Corporation is registered by Cash Management Support with Central 1 to access the application.
Can limits be set for individual users at the corporate customer level the same way they are set for Deposit Anywhere™?
No, a Deposit Anywhere™ user is an individual customer, while limits in Remote Deposit Capture can only be set for the business itself, not individual customers within that business.
Retention and Destruction
What should corporate customers do with the physical cheques after they have been scanned?
The corporate customer should retain the physical cheques in a secure location until they are destroyed. In most cases, these items will not need to be accessed once the item has cleared and can be destroyed once your required retention period has passed. The recommended retention period is 90 days, as that is the time-frame where images can be returned for poor image quality. Imaged cheques must be destroyed no later than 120 days after they've been scanned. Financial Institutions should advise corporate customers of their cheque storage and destruction policies.