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With Citibank. Remote Check Deposit, your authorized users can
scan checks received throughout the day and deposit them
electronically as late as 6:00 p.m. local time.
Once checks are scanned, images can be viewed online in a secure
Web-based environment - allowing users to approve, adjust and/or
rescan checks as needed. This process helps ensure the accuracy
of deposits.
Benefits of Citibank Remote Check Deposit
Citibank Remote Check Deposit literally removes all geographic
limitations by enabling your business to concentrate remote
deposits - from multiple business locations. The result is a
significant savings in time, since managing a myriad of local
banking relationships and accounts is no longer necessary.
Consider This...
- Time to and from the bank: 20 minutes
- Transaction time: 10 minutes
- Total time spent each day: 30 minutes
- Total time spent each week: 2 hours (on average,
considering holidays)
- Total time spent each year: 104 hours... or 2.5 work weeks
In addition to the time savings, our Remote Check Deposit solution
saves you money by eliminating the need for photocopying or
microfilming paper checks, as well as the expenses and mail
float related to hiring couriers and armored carriers.
What's more, since deposits are reviewed prior to transmission,
account and deposit adjustment fees are effectively decreased.
As you would expect, weve adopted a series of security measures
to help protect the integrity of your deposits and accounts from
beginning to end, with:
- A two-step log-on process requiring both a User ID and password
- Automatic password expiration
- Maximum log-in attempts, disabling a given User ID and password
after a specific number of failed entries
- Entitlements and approvals set at the individual user
level - by account, amount and/or transaction type
- A clear segregation of duties - either location specific or
at the employee/job function level
- Maker/checker options to improve the accuracy of deposits
- Systematic rejection of unreadable images
- Deposit controls such as CAR/LAR validation that match both
the legal and written amounts to eliminate the need for deposit
adjustments and reduce reconciliation issues
- Industry-standard data encryption for secure transmission
- A running display of previously deposited items to eliminate
duplicates
Plus, you have the peace of mind knowing that those authorized by
you to scan and deposit checks will never have direct access to
your accounts.
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