Remote Deposit
Remote Deposit allows you to deposit checks into any of your accounts without leaving your office. We provide the necessary scanner hardware, training and ongoing support. You simply log into Online Banking to start a deposit, scan the items you are depositing and submit the deposit electronically. The bank will process the deposit with an hour of receipt and you will then see the availability of the funds.
The monthly fee for Remote Deposit is $100. This allows a typical employer to save over $100/month when you consider the time of travel of sending an employee to the bank each day.
Example of Savings
| Clerk time away from office (in hours) | 0.50 |
| Hourly rate of pay | $ 10.00 |
| Daily cost of labor | $ 5.00 |
| Daily mileage reimbursement (10 miles/day @ $0.575/mile) | $ 5.75 |
| Total daily cost | $ 10.75 |
| Days per month | 20 |
| Total monthly cost | $215.00 |
| Remote Deposit monthly fee | $100.00 |
| Monthly savings | $115.00 |
This analysis doesn’t even take into consideration things such as eliminating the need to purchase deposit tickets or the reduced liability exposure of having an employee regularly travel on company business.
There is a one-time installation fee of $100.
The monthly fee covers the cost of the scanning equipment as well as the equipment maintenance. You provide a PC workstation with Internet access.
Contact us today for more information or to apply.
