In our current environment, business owners are exploring new and convenient ways to do their banking. In a time of social distancing, businesses are trying to minimize contact whenever possible which can present some challenges when considering how business is usually done. As a result, business owners have turned to Chelsea Groton to learn how our digital services can help them do their banking without missing a beat.
Some people may not be aware of all that can be accomplished through a single sign-on into online banking. Businesses are able to deposit checks without visiting a branch location and pay vendors and employees electronically so they don’t have to write checks or have their employees deposit their checks at the bank. Businesses can also initiate wire transfers, pay bills, and monitor activity with tools such as Positive Pay and Alerts.
While these digital services provide a wealth of convenience and protection, it’s important to know that the Chelsea Groton team is here to support businesses while using these services. Over the coming weeks, we will be sharing more about each of these services, but if you would like to learn more today, email us and our team will provide you personalized solutions that fit your businesses’ needs.
Let’s Talk About Remote Deposit Capture
Chelsea Groton offers several secure treasury management solutions to help business owners achieve efficiencies. One tool that hundreds of our business customers have benefitted from is Remote Deposit Capture (RDC), which enables Chelsea Groton customers to “deposit” checks electronically from their own office for fast credit to their account without making a trip to the branch.
How RDC Works
Customers with an active business deposit account are able to log-in to the RDC module of their online banking profile using the same user ID and password in order to digitally scan paper checks from their desktop. An image of the check is electronically transmitted through a secure internet connection to the Bank anytime, day or night. For deposits made to an account by 4:00 pm on any business day, funds are posted the same day. For deposits made to an account after 4:00 pm, funds are posted the next business day.
Remote Deposit Capture technology compares the total amount of the deposit on the electronic deposit slip to the total of the scanned items and prevents the transmission of deposits that are out-of-balance.
Images of deposited items are stored in a sixty (60) day image archive and can be viewed or printed by company-designated individuals as needed. Items are stored in a separate permanent image archive and can be retrieved by the Bank when needed.
How RDC Could Benefit You
Business owners work around the clock, even more so over the last several weeks, to ensure their business is in the best possible position to recover from the COVID-19 pandemic. Remote Deposit Capture enables business owners to focus more on their business and spend less time driving to a branch location or dealing with paperwork. They can even delegate the responsibility of making deposits using RDC to other staff members through online entitlements.
Business customers have found Remote Deposit Capture to be:
- Convenient – Deposits are made electronically from a business location (or multiple business locations), at any time.
- Efficient – The time and effort it takes to travel to the Bank, make photocopies of checks and prepare deposit slips is eliminated.
- Accurate – Remote Deposit Capture prevents transmission of out-of-balance deposits.
Do you think Remote Deposit Capture could benefit you? Contact our Business Banking Department at 860-448-4203 or send us an email.