5 reasons why you need Remote deposit check scanner - Baltimore Post-ExaminerBaltimore Post-Examiner

5 reasons why you need Remote deposit check scanner

Over the years, people have had to take long trips to the bank for all their transactions. The trips would often be lengthy and time-wasting. However, advancements in technology have changed the game and presented us with a solution.  You no longer have to wait for weeks for the bank to process your deposit.

As of 2019, you can make a remote deposit from your office or home all through to the bank. The remote deposit check scanner has had a significant impact on our lives. Major financial institutions are embracing the machine and so are businesses. Here is a look at why a remote deposit check scanner is essential for a growing business.

1. Improved funds availability

Important to note is that one can make a deposit at any time through the RDC. With that, one can have their checks processed sooner than when you have to travel to the bank and make the deposits. This, in turn, means that you have money almost immediately. Business clients need cash flow to be able to keep up with the competitive world. With the RDC, they can enjoy a good flow of cash with their checks being deposited right away and ready for processing.

Banks report that businesses that incorporate RDC have increased funds availability by 42%. That is not only good news for the banks but the economy at large. The flexibility of funds makes it easier for people to trade and invest.

2. Faster return item notification

As per the federal law requirements, the bank must send out a piece of information once it receives a check deposit. When you make a deposit, the sender bank is notified especially if the check involves large amounts. The notification indicates that your check has been received and is ready for processing. The quicker the process, the better as you can follow up on the check.

Rather than the old methods of following up on check deposits. The new technology is quick and easy. They will send the initial check and a message via the scanner back to the sending bank.

3. Lower operational cost

Once you have an RDC, say goodbye to trips to the bank. Time and money spent on trips could be more productive. Businesses need to save money as much as they can. For every small business out there. every little amount of money can make all the difference. The small businesses in remote areas can benefit from the RDC as they can cut all costs needed to make trips to the bank.

Transport is also costly and risky to undertake. Using a scanner will cut the cost and reduce the risk it takes to mail such items to the bank or another entity. That can make all the difference when no one can access your bank records.

4. Reduced consolidated bank fees

Most banks will reduce the consolidated bank fees for businesses that use their RDC service. Considering that the software and tech are always at work, there is very little work left for the bank. Banks are using the RDC to encourage more businesses to use their financial services. They will help you set up the hardware or recommend someone like Panini.com to help with initial set up. The set up may cost you money, but it will eventually be an investment as you do not have to pay large fees from your bank.

5. Convenience

The RDC offers you a chance to make a deposit right where you are. Many people have very little time to keep rushing from one point to another. Making a deposit may take a while if you had to use the traditional counter method. Contrary, the remote deposit will only last a few moments as you need to scan the check and send it to your bank.

We are taking swift steps to the future of banking with Panini Vision X RDC scanner. You can also join the movement and get a reliable partner that will make deposits comfortable and straightforward. Banking should be delightful and the RDC is here to make sure that you bank with convenience. You can head on to our online store and check out what options are available for you.

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