Does Your Business Take Checks? Then You Need to Learn about RDC

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

First lets start with what RDC stands for - Remote Deposit Capture. RDC is a new generation of check imaging and conversion. This new service was made possible by “The Check Clearing for the 21st Century Act,” formally known in the U.S. House of Representatives as HR 5414 and informally known as Check21, which allows banks to clear checks using images (reproductions) of them rather than original items. Thus the need to transport paper checks to the bank has been eliminated.

The RDC solution enables users to scan checks and transmit the scanned images to a bank for posting and clearing. RDC is a fully integrated, web-based electronic payment processing system that uses a check scanner to convert paper checks into electronic transmissions. To accomplish this, five items are needed:

1. Check scanner
2. Personal computer
3. Internet connection
4. Check scanning software
5. Image exchange agreement with a bank

With RDC, checks clear in 24 to 48 hours, compared to five to seven business days with traditional check deposits. So RDC is a great way to save your business time and money, while offering your customers yet another way to pay for your goods and services.

Here are some of the ways RDC can benefit your business:

• Eliminate trips to the bank
• Keep existing bank relationships
• Reduce the number of returned checks
• Enjoy faster check processing times
• Make deposits later in the day
• Use a single provider for both credit card and check processing
• Reduce the number of bank relationships for multiple location businesses

If this sounds interesting to you contact me and I will forward you more information including pricing.

Like this post? Then subscribe by RSS | Email

 Print This Post  |   Email This Post

Related Posts

• Tip of the Iceberg - Missing Debit Card Rate Reduction
• Some Quotes to Do Business By
• QuickBooks and Merchant Accounts
• Straight Pass Through as a Lifestyle?
• Interview: Marketing and PR Expert Don Simkovich
• Interchange Compliance - Guidelines
• What the World is Saying About Your Business?