Remote Deposit Service

Electronically deposit your checks faster and more efficiently from your desktop.

"Check 21" legislation has opened the door to new imaging technology that enables businesses to streamline the way they deposit customer payments. You can improve your revenue stream and minimize costs associated with traditional paper based deposit processes.

With more than 42 billion paper checks written each year, estimated paper check handling costs and losses for merchants average between $.75 to $3.00 per check. Woodforest National Bank’s Remote Deposit Service provides advanced technology to capture check images for electronic processing and delivers advantages to businesses of every size. With just a scanner, computer and internet connection, your business can benefit from remote collections, while still permitting customers to pay by check.

Benefits

  • Optimize availability of funds with deposits made from the convenience of your office until the deposit deadline of 8 p.m. Central Time, 7 days per week

  • Potentially increase daily cash flow

  • Improve workflow and reduce expenses by eliminating manual deposit preparation, enhancing research capabilities and reducing storage needs

  • Save time and money by eliminating the need to make regular trips to the bank

  • Streamline operations by making deposits into multiple Woodforest accounts or consolidate all remote locations’ deposits into a single account

  • Reduce errors and reconcile accounts quicker as deposits are validated and balanced when checks are scanned

  • Expand reporting capabilities with immediate detail reports online and in a variety of standard export formats

  • Maintain controls by managing users and their entitlements

How It Works

Once checks are received at your office, a staff member can scan the items, which will capture the payment amount, check image and additional data. Then with the click of their mouse, they can transmit the data to our processing center for clearing. Images of the checks are stored for 120 calendar days, which greatly enhances your research capabilities. In addition, you have the ability to export data files to interface with your accounting system. Also, reports containing an image of the front and back of each check can be exported and archived for long term storage.

Businesses utilizing our Remote Deposit Service must maintain a Business Checking account on Account Analysis.

Please contact Cash Management Sales at (832) 375-2606 to learn more about Woodforest National Bank’s Remote Deposit Service.

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