What is Remote Deposit?
Remote Deposit offers you the ability to make your own deposits from the comfort of your own office. Using a Panini Vision X scanner, you will capture the images and transaction information of checks accepted for payment and deliver this information electronically to Security Bank.
What are the key benefits for a business using Remote Deposit with Security Bank?
Not only is this service easy to use, but it saves you valuable time. You will no longer have to make trips to the bank or manually prepare deposits.
What type of business is suited for this service?
This service is ideal for businesses that primarily deposit checks as opposed to cash, such as professional offices, contractors, wholesalers, manufacturers, physicians, attorneys and so forth.
I have multiple accounts. Do I need a scanner for each account?
No. With a single scanner, you will be able to deposit to multiple accounts in a matter of minutes. Just let us know what accounts you would like to access.
How does Remote Deposit work?
Using Internet-based technology, you submit checks for deposit using a PC and scanner located at your business. Each check scanned for deposit generates an electronic image that is transmitted to Security Bank. The deposit will be credited at the end of the day. Funds will be available the next day.
How late can I make a deposit and still get same day credit?
Deposits made via a scanner attached to our remote deposit capture system have an extended cutoff time for same day credit of 5:30 p.m. (Central Standard Time) Monday – Friday. Any deposit made on the weekend or holiday will be processed on the next business day. Large deposits over $500k made after 4:30 p.m. are subject to review and funds may be held for up to 7 business days. Deposits made on our mobile app and over the counter deposits made at our bank locations have a cutoff time of 4:00 p.m. (Central Standard Time) Monday – Friday.
What’s the cost for a business to implement this service?
The only cost to you is the scanner itself $500, which can be paid up front, or by convenient monthly installments via account analysis. And once the scanner is paid for, it is yours to keep.
If the deposit is processed by the bank using the check images, what happens to the original paper checks?
It’s the responsibility of the business to securely store the original checks and then destroy them after a 30-60 day period as determined by the organization’s needs. The check image that results from scanning a check now becomes the legal replacement which will then be processed by the paying financial institution.
Who will use the system? And what type of training will be provided?
Individuals already in charge of manually preparing and making deposits are typically the main users. You will receive your choice of personal on-site or remote access training from Security Bank.
How do I sign up for Remote Deposit?
Signing up for Remote Deposit is easy – Let us know you are interested, and we will send you the application. Then, at a time of your choosing, one of our Remote Deposit specialists will come to your office and set your scanner up; or alternatively, we can have the scanner delivered and install it remotely.
Who would I contact for more information about Remote Deposit?
Contact Miguel Interiano at 214-619-3916, or stop by any Security Bank location.
