Remote Deposit Capture
The Check Clearing Act for the 21st Century, commonly known as Check21, made possible many things in the check clearing world for banks and bank customers, both consumer and business. The Bank of Prescott has partnered with Open Solutions, an industry leader in image technology, so that businesses now are able to make their deposits without ever coming to the bank! This "remote" ability for making deposits is called "Remote Deposit Capture" since the business scans its checks at its place of business and securely transmits the images of these checks to the Bank of Prescott. It only takes a few seconds for the transfer to occur.
Think about it, no more driving to the bank to make a deposit!
The business is provided a small image scanner in which the checks are scanned. Software that is also provided reads the amount of each check and creates an electronic deposit slip. The process, form start to finish, takes only a few minutes in most cases. After completing the scanning and insuring that the deposit is in balance, the operator simply hits a "transfer"button and the image file is immediately sent to the bank.
The business customer's account is credited for the deposit as if the business physically came to the bank. The original checks are securely retained by the business (called "truncation") in case the actual check is needed in the future. After about 90 days, the original check is destroyed.
The business is provided various auditing reports for its records. The electronic image file is sent via SSL (secure socket layer - the Internet industry standard for secure file transmission), and it is encrypted as well. Additionally, the bank provides a digital certificate from VeriSign, the most trusted name in Internet security, that is known to the business so that the business is ensured that it is sending the deposit file to the correct Internet address. If you would like more information on this state of the
art method of making your deposits, please call 870-887-2688 or email webmaster.