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Republic Deposit Capture (RDC) is one of the newest
innovations to assist you with your Business Banking. Imagine
the convenience of depositing your checks from your office directly
into your
RepublicBankAz account.
Greater control
With Republic Deposit Capture; you determine when deposits are sent
to the bank. Our service is open to 6 pm (Arizona Time) every day we
are open. No longer will you need to hold deposits because you can’t
find the time to run to the Bank.
Increased Efficiency
Many businesses prepare deposits by copying the checks, writing
out deposit slips, and sending someone to the bank. Our service
scans your checks without the need for deposit slips or endorsement
stamps and is capable of storing images on the system for 12 months,
which eliminates the need to keep copies.
Decreased Cost
The cost of our service is only a modest monthly fee. There are
no long term contracts, leases or requirements to purchase the
scanner. If for any reason you determine RDC service is not right
for you, simply return the scanner in good working condition and we
will discontinue the service. Considering the costs of
transportation and employee time, Republic Deposit Capture offers an
economical solution for your check deposits.
How does it work?
Republic Deposit Capture works in three simple steps:
-
scan checks into the web-based application
-
verify deposit amounts for accuracy
-
transmit the check images for deposit
Popular questions about RDC:
What is Republic Deposit Capture and how did it come about?
Republic Deposit Capture is a remote scanning
device that allows you to scan you checks, transmit the images
to the bank, and have the funds deposited to your business
account. The impetus behind this technology was the Check 21
legislation, which allowed for banks to accept images of checks
as substitutes (called image replacement documents or IRDs)
for original checks.
What types of checks areable to be scanned?
Any check in US Dollars and drawn of a US bank account.
Personal and business checks are allowed, as well as money
orders, traveler’s checks and cashiers checks.
Is the system secure?
Yes. Our system is web-based, with 128-bit encryption and
secure hosting, meaning that your transmissions are guarded and
the deposits are protected.
Will Republic Deposit Capture speed up my collection time (i.e.
decrease deposit float)?
Check 21 allowed for banks to accept IRDs as the legal
equivalent of checks. However, most banks are still clearing
checks via paper, and thus deposit float has not been impacted
greatly as of yet. As the adoption of new technology increases,
banks will be able to reduce the use of paper and share images
electronically, which will decrease clearing time in the near
future.
How easy is the system to use?
RDC is a simple and easy-to-use way to make your check
deposits. Our scanners are scalable to your level of deposit
volume and the software is web-based, so installation and
scanning is straightforward.
Can I use RDC for multiple locations?
Absolutely. Republic Deposit Capture can be used across the
street or across the country and from several locations into one
or multiple accounts.
What do I do with the original checks?
We recommend that you store the checks in a secure location
for a period of at least 30 days, which allows you to refer to
the original check if there are any issues with image quality or
returned checks. After that time, dispose of the checks in a
secure manner.
Can I input customized remittance information?
Yes, the system allows for user input so that you can have
multiple fields (i.e. invoice number, reference information,
etc) associated with your deposits. Reports can be generated for
printing or downloading to your computer.
How do I get started?
Contact us at (602) 277-2500
Requirements for Republic Deposit Capture:
-
PC with a USB 2.0 port (system is not compatible with
Macs)
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Broadband internet access
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Internet Explorer 6.0 or higher
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