How does Remote Deposit work?
Simply scan an image of both sides of a check by passing it through a check scanner. This image then becomes the legal equivalent of the original check, and the image is submitted to your financial institution through a secure electronic server. PacTrust Bank treats this image as the legal equivalent and begins processing the check immediately.
What is a substitute check?
Also known as an IRD (Image Replacement Document), it is a paper reproduction of the original paper check, and is legally binding as a legal proof of payment.
- Contain an image of the front and back of the check
- Contain the MICR line of the original check, which includes account and routing numbers
- Conform in paper stock, dimension, and other industry standards for images and substitute checks
- Are ready for automated processing in the same manner as the original check
Do I have to change or upgrade my computer system?
Each scanner will have minimum system requirements, which will vary with each scanner. Each scanner will come with a driver that will need to be loaded. If your computer does not have an open USB 2.0 port and a current version of Microsoft(R) Windows XP, Windows Vista (32 bit) or Windows 7 (32 bit), you will need to upgrade.
Who will use the system? What type of training will be provided for them?
Individuals already in charge of manually preparing and delivering deposits are typically the main users of this automated process. A video tutorial is available for your staff.
How late can I make a deposit and still receive same day credit?
The cut-off time for same-day deposits may be extended for deposits issued electronically. See your service agreement for details.
What should I do with the check after I make the deposit?
Generally, original checks should be stored for at least 65 days before destroying. Refer to your service agreement for details.
How will I receive notification of an NSF?
Returned checks will be handled as usual, except that a substitute check will be returned in place of the original check.
Can I set up multiple accounts for deposit?
Yes. Deposits can be made to any number of accounts.
How does Remote Deposit differ from POP or POS systems?
Many retailers use a POP or POS system that produces an ACH (Automated Clearing House) debit from their clients' accounts. This information is usually captured at the point of purchase, and the checks are truncated. This means that an image of the check is not captured and therefore cannot be returned in the customer's bank statement. Some users of POP or POS systems are moving to Remote Deposit to reduce equipment, maintenance, and training costs.
What types of checks can be processed through Remote Deposit?
U.S. dollar checks drawn on U.S. financial institutions with valid routing and transit numbers are accepted, including personal checks, business checks and postal money orders.
What security controls are provided for Remote Deposit?
Users access rights, depository restrictions, and review criteria levels are controlled within the software. Data transmissions from your PC are protected by 128-bit encryption.