Remote Deposit Capture

CV's Remote Deposit Capture solution provides a high-and low-volume deposit capture system for virtually any commercial entity, including online merchants, who accept checks as a form of payment. This fully integrated, Web-based electronic payment processing system leverages a check scanner to convert paper checks into electronic transactions. It then processes them through the ACH network or Check 21 image exchange network. In addition, the system automates returned check re-presentment, generates real-time reporting, and supports proactive risk management.

Our patent-pending process supports one-time payments by accepting check and account information over the Internet. This processing is done in a totally secure environment. This innovative solution increases revenue, improves efficiencies, and enhances customer relationships by combining the flexibility and immediacy of electronic payments with the familiarity of paying by check.   In addition, the money is delivered to your bank account seamlessly without the need to run checks constantly to the bank. 

CV's Remote Deposit Capture is a Web-based, check image capture, storage and processing solution that enables companies to deposit paper checks of all types electronically. With the passage of the "Check Clearing for the 21st Century Act" (Check 21), paper checks can be cleared electronically through the process of check image exchange, and/or converted to ACH transactions for collection. Check 21 allows a company to process any type of check, including corporate checks, consumer checks, cashier's checks, third-party checks and money orders.

CVs' technical infrastructure provides secure check processing. Least cost routing and speed of collection are optimized and duplicate deposit items are optimized and duplicate deposit items are prevented.  Our Remote Deposit Capture product offers optional courtesy amount recognition (CAR) and legal amount recognition (LAR) in lieu of key entry.

CheckVantage offers value-added services that insure greater accuracy, helps streamline the conversion process, helps identify errors and reduces risk.  We can perform item proofing for deposits.  Any required MICR repair is handled by our staff.  Additionally, we ensure that the files are balanced. Let our consultant demonstrate our RDC products that will take your company into the next generation of payment processing today.

 


 

 

 

Benefits

  • No training needed for clerks at the register.
  • Minimal impact on checkout process.
  • Quicker and easier processing of checks in the back end to move the money faster.
  • Money saving and cost effective.
  • No need for merchants to install scanners for every lane.
  • BOC is Less expensive.
  • Reduces the amount of armored car trips.
  • Allows for check conversion at point of sale without equipment at the register.
  • Uses rules similar to ARC with check conversion in the back office.
  • Converts consumer checks and business check using Check 21 technology.
  • Requires no written authorization from the customer, just posted notification.

How Does It Work?

Checks that are taken at Point of Purchase (POP) are imaged with a scanner either at the point of purchase or in the back office. These scanners can process 30 to 1,000 checks per minute. The checks are then electronically deposited in your business checking account eliminating the need for a paper deposit. This saves time and people equating to large bottom line profits.

Why Does It Work?

It works because the proper software and equipment have been developed that follow the NACHA guidelines needed for Back Office Conversion. With the software and hardware in place, a cumbersome job becomes simplified, reduces time needed to process paper checks, and an overall savings for your company. Just think, all of your locations able to process checks electronically without the need for trips to the bank or an armored car service. With our on-line reporting feature you are able to see all deposits, details of the deposits, returns and manage this for all locations from the Corporate office. Truly a time saver for all those involved in processing checks.