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Remote Deposit Capture

What is Remote Deposit Capture?

Remote Deposit Capture, in its most simple terms, is a service which allows a user to scan checks and transmit the scanned images and/or ACH data to a bank for posting and clearing.  The basic requirements for a Remote Deposit Capture service currently include a PC, an internet connection, a check scanner and a service provider such as First Southern Bank.  Checks you receive at your office can be scanned to create a digital deposit.  This digital deposit is then transmitted (usually over an encrypted internet connection) to us, First Southern Bank who then accepts the deposit, posts the deposit to your account and assigns availability based upon your availability schedule.

Legislation in the USA commonly referred to as “Check 21” makes this entire process possible.  Passed in October 2003 and implemented in October 2004, this legislation allows banks to clear checks based upon images of the original items; instead of having to transport the original check all the way back to the paying bank for clearing.  The benefits of Remote Deposit Capture can be substantial: convenience, reduced transportation risk and costs, better availability, processing efficiencies and more. For addtional information please contact Mindy Combs at mindy.combs@firstsouthernbank.net or Staci Dunn at staci.dunn@firstsouthernbank.net, or either party can be reached at 618-997-4341 or 618-549-3621.