Deposit-On-Demand, also known as remote deposit capture, converts your business’s paper checks to images for deposit. Using a scanner and software, you can reduce the time it takes to create a business deposit and eliminate the need to drive to the Bank to make your deposit.
How does Deposit-On-Demand Work?
- Using your scanner, paper checks are converted to images and then electronically transmitted to the Bank
- Your business can access images of checks deposited at your computer for up to 18 months after contracting with the service
- Deposit faster with creation with character amount and legal amount recognition which reduces handkeying
Benefits of Deposit-On-Demand/Remote Deposit Capture
- Make deposits without going to the Bank
- Get more money into your account with a later cut-off time, extended to 6:00 pm (CST)
- Save money on service charges associated with deposited items
Would Deposit-On-Demand make sense for my business?
Deposit-on-Demand or Remote Deposit capture is a great fit if your business:
- Doesn’t handle a lot of cash
- Is geographically challenged (Not located near our Bank locations)
- Has few personnel available to take deposits to the Bank
- Receives checks throughout the day and would like to make multiple deposits without making multiple trips to the Bank
- Has higher receivable volume and want to take advantage of today’s technology and add efficiency to the deposit process
To get started, contact a Treasury Management Specialist or Commercial Banker. Discover the Merchants Bank difference.
Learn more about our other Treasury Management tools for collection, which help you collect and manage payments from your customers or vendors.
* Subject to approval