Remote Deposit Accounting Software Stand-Alone or Integrated With QuickBooks and Others Helps Banks and Businesses Large and Small

"This is the hot product in business banking right now. Not only do our business clients no longer need to take their check deposits to a branch, those clients will also have access to their working capital much sooner with faster receipt of funds."

Deborah Bateman, Senior Vice President
National Bank of Arizona, October 17, 2005

That quote is from a white paper released by Canon, a scanner provider and proponent of remote deposit software. The paper succinctly provides a list of remote deposit benefits enabled by Check 21 legislation, summarized here:

• Transportation and courier fees are eliminated, as well as clerical and wire consolidation costs to balance deposits
• Businesses don't lose time when an employee would leave the office to make a deposit, and recipients don't lose the time it takes for the deposit to process if the check sometimes doesn't make it to the bank (it's lost, there was traffic or bad weather, for instance)
• Remote deposit is a more efficient and accurate way to process payments
• Businesses are happier because checks clear faster, bad checks identified sooner and vendors can act on orders more quickly because they find the funds have cleared
• A business no longer has to consider their office location in relation to a bank branch
• Deposits are accepted later in the day, in some cases until 8:00 p.m., after the branch closing
• Scanned files can be transmitted 24 x 7 as needed, batched for when processing is available
• Banks can offer remote deposit as a value-add to customers, strengthening their customer relationships

BankServ provides a wide range of electronic payment solutions designed for financial institutions, membership-driven organizations and associations and both small business and enterprise, nationally and internationally. In addition to SameDayPay (phone and Web payments) and DepositNow (remote deposit software integrated with QuickBooks and other accounting software), BankServ is quickly reaching leading provider status (currently #2) in electronic financial transaction processing, as the only service bureau in the world to offer both U.S. Fedwire and SWIFT software solutions.