|
Check 21 allows you to make all your paper check deposits without ever leaving your office.
The Check Clearing for the 21st Century Act (Check 21) was passed into law on October 28th, 2008. It allows businesses and financial institutions to convert paper checks into electronic images.
How Can Check 21 Benefit You?
- Eliminate daily trips to the bank to make check deposits.
- Funds are automatically deposited into your existing bank account.
- Electronic Check Deposit - Convert paper checks received "by mail" or "in person" into electronic online NEXT DAY deposit.
- Eliminate expensive courier services to transport your checks.
- Reduce labor costs associated with manually processing and depositing checks.
- Improved Cash Flow. Get access to funds within 48-72 hours.
- Automatically resubmit NSF items on the time and day you choose. Easier collection.
- Cash concentration for multi-location or multi-branch operations. Each location can scan checks remotely.
- Funds deposited to corporate account.
- Reduce check fraud by getting faster notice of returned checks.
- Advanced check scanning hardware available for any size check processing volume.
- Easy set up. No programming required.
- Comprehensive online reporting. Review & download real-time and historical customer data.
- Highly secure web-based system.
- Automated data files allows for easy import to your accounts receivable system.
- Storage & logistics - All check data and images are stored on secure severs and you have access to all data 24 hours a day.
There is no cost or obligation to find out how much you qualify for.
What type of checks can be converted electronically?
- Process all checks drawn on U.S. Banks
- Checks that can be converted include:
| Personal Checks | Business Checks | | Government Checks | Travelers Checks | | Cashier’s Checks | Certified Checks | | Equity line of credit checks | Money orders |
There is no cost or obligation to find out how much you qualify for.
More About Check 21?
Check 21 enables your company to implement the latest technology in check processing. You could actually convert a paper check received in the mail or at a payment location into an electronic check. The paper check is converted into an electronic image known as an IRD document and electronically sent to the receiving bank for presentment. You could literally make your deposits right from your own desk. Be your own Bank teller…
The electronic check is presented to the check writer’s financial institution and funds are transferred into the merchant’s existing bank account. The system can then provide a file used to update payment information in your in-house accounts receivable system, eliminating data entry.
Check 21 allows the merchant to avoid the time consuming processing of paper checks, banks run for deposits and data entry. In most instances checks submitted electronically are processed at the bank before other paper checks are cleared giving you quick access to valuable operating capital.
Call us today or inquire online to learn more about how Check 21 can benefit you. We’ll provide the pricing and details you need without the hassle and with no obligation.
There is no cost or obligation to find out how much you qualify for.
|