Remote Deposit

UMB’s remote deposit service provides the ability to make check deposits from the convenience of your company’s own office/location. This product enhances the processing of checks for electronic deposit to UMB Bank utilizing a bank-approved, remote capture system. Remote Deposit Capture consists of an image scanning device(s) installed at your company’s location(s) integrated with a suite of check imaging applications and is scalable based on your check volume.

Checks are scanned at each location at the convenience of the customer, typically in a back-office environment. As the checks are scanned they are reviewed for duplicate items, automatically analyzed for image quality, and converted to electronic images. These electronic images are balanced then transmitted through a secure Internet connection to UMB for processing, presentment, clearing and long-term archive.

It’s a good fit for companies that:

  • Prepare deposits at various locations
  • Pre-encode checks for deposit
  • Transport deposits a long distance to the bank
  • Have locations throughout the country currently depositing to multiple banks, ultimately concentrating the funds to the main bank via ACH

Remote Deposit Graphic

UMB’s Remote Deposit Capture Demo

 

Benefits of Remote Deposit

  • Improved control over the deposit process: Self-contained and easy to use system with audit controls and workflow reporting resulting in a more reliable, informative deposit process.
  • Improved accuracy of deposit: The system scans and automatically converts the items to image transactions without user intervention. Any remaining manual keying is validated by the system, resulting in more accurate deposit and fewer bank deposit adjustments. If you currently pre-encode your work, you can reduce keying effort by approximately 75 percent with the systems CAR/LAR (Courtesy Amount Read / Legal Amount Read) intelligence.
  • Electronic check conversion: The application has the ability to utilize ACH payment types to convert eligible checks to ACH debits using Accounts Receivable Conversion (ARC) or Back Office Conversion (BOC).
  • Online access: Ability to view, search, download and print data or images online for 24 months.
  • Remittance Processing: Customers have the ability to scan remittance forms or enter invoice number along with any other pertinent invoice information.
  • Improved availability: The customer is now afforded the ability to make more frequent and timely deposits throughout the day.