RP$ Remote Deposit

Eliminate your trip to the bank and get faster funds availability!

Creditron solutions support remote deposit and have the flexibility to work with any bank that accepts remote deposits. In addition, our systems can automatically determine and sort checks into the most cost effective remote deposit method and create electronic deposits. The two methods available under US banking regulations are:

1. Check ACH Conversion - turn personal checks into electronic transactions cost effectively

ACH conversion was introduced in 2002 and is available through virtually any bank today. The ARC rule allows companies to convert paper checks received through the mail and drop box to ACH transactions. A May 8, 2006 amendment now includes checks accepted over-the-counter. Once notification has been provided to your client, personal checks can be imaged and converted to electronic payments - you get next day availability of funds to improve your cash flow! ACH conversion also reduces your processing costs and greatly increases the efficiency of returned check handling.

Creditron has developed a cost effective solution that supports electronic check conversion for mail payments directly with your originating bank, or through our ACH partners.

2. Check 21 Check Truncation - electronically deposit all checks without restrictions

Implemented in October 2004, Checks 21  does not have the limitations of ARC conversion. Any check can be truncated without notification or exception. Currently though, Check 21 is more costly and not as widely available as ARC.

Creditron's remote deposit solution allows you to take full advantage of both or either of these methods without manual sorting.