What is Remote Deposit Capture?

Remote Deposit Capture has been called “The most important development the (U.S.) banking industry has seen in years” by the Federal Reserve and others. The commonly-viewed benefits of this new service, referred to as Remote Deposit Capture (RDC), include convenience, better deposit availability and reduced transportation cost & risk.

Remote Deposit Capture (for more information, please visit RemoteDepositCapture.com), in its most simple terms, is a service which allows a user to scan checks and transmit the scanned images to a bank for posting and clearing. The basic requirements for an RDC service currently include a PC, an internet connection, a check scanner and a service provider such as your current bank. Checks you receive at your location can be scanned to create a digital deposit. This digital deposit is then transmitted (usually over an encrypted internet connection) to your RDC bank who then accepts the deposit, posts the deposit to your account and assigns availability based upon your availability schedule.