Benefits of Remote Deposit Capture
Remote Deposit Capture offers your business the following benefits:
- Save time and money by reducing unnecessary trips to our branches to make a deposit. Make a deposit when it’s convenient for you.
- Make deposits any time, from the comfort of your own computer.
- Enjoy improved cash flow with no holds on your funds and same business day account settlement when checks are deposited weekdays by 6:00 pm EST. Checks deposited after 6:00 pm EST on Friday are credited the following Monday.
- Reduce the potential for fraud as checks are presented for payment more quickly with RDC.
- Increase your peace of mind. Check scanning is done through a secure website.
How Remote Deposit Capture Works
Below is a brief overview of the Remote Deposit Capture process:
- Log in through HVFCU Remote Deposit Capture login page
- Create a deposit, entering your check totals and counts
- Scan your checks through a single or multi-feed scanner
- Review and confirm that each deposit matches your keyed in total
- Finalize the deposit when all totals and counts match
- Once finalized, you will receive a confirmation of your deposit
- Your deposit posts to your HVFCU Business Checking Account
HVFCU offers both single feed and multi-feed scanners, depending upon how many checks your business deposits. Our staff will be happy to discuss which option best meets your business needs and preferences. To find out how Remote Deposit Capture can benefit you and your business, please fill out the form below. You may also visit your nearest branch location or call our Contact Center at 845.463.3011.
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Please keep the following information in mind when using Remote Deposit Capture, as they will help ensure your deposits are processed properly:
- The cutoff time for deposits made via Remote Deposit Capture is 6:00 pm EST, Monday through Friday. Deposits made after 6:00 pm EST on Fridays are deposited the following Monday.
- Deposits post the next day when made by the 6:00 pm EST cutoff time mentioned above. We encourage you to scan checks throughout the day to decrease the likelihood of missing the cutoff time.
- There are no holds placed on funds deposited through Remote Deposit Capture.
- You must retain your original checks for a minimum of 14 days, but no more than 45 days. Checks must be destroyed once the 45 day maximum has passed.
- Be sure to sign your checks in the endorsement area before processing.
- You may not deposit third party checks using Remote Deposit Capture. You may only deposit checks made payable to your business.
- You may only use Remote Deposit Capture to deposit checks drawn on US financial institutions.
- You will receive a confirmation if your deposits been processed correctly. If you receive a failed message, you will need to reprocess your deposits.