Electronic Check Processing

Companies that accept checks as payment are well aware of the time, effort, and resources needed to process and post non-electronic payments. Especially as the per item volume continues to grow. It requires multiple employees to sort, reconcile, process, post, manually enter the data, and deliver the checks to the bank. All these manual steps take valuable time and resources.

With our automated, image-based solution, each manual step along with potential errors is removed from the process. RemitPlus provides the ability to capture check images, credit customer payments, archive the data, update the accounting system and electronically batch deposit all checks without any manual data entry. It’s like bringing the Bank Teller in-house.

The RemitPlus simple “red light/green light” functionality is easy to learn. The checks and coupons (if necessary) are captured via a scanner. During the scanning process, the system images the checks and corresponding coupons. The advanced character recognition (ACR) reads and stores the amount, endorses the checks, saves the identifiers selected from the coupons, whether barcode or OCR. The operator can view the check image (both front and back) while quickly correcting any missing information. When the batches are balanced, with the click of a button, the system extracts all the information and updates your billing system.

RemitPlus converts all paper checks into an Electronic Funds Transfer (EFT) and transmits through secure ACH or X9 Cash Letter. The check is used as a source document to initiate a one-time debit against the writer’s account. Deposits are credited within 24 to 48 hours, and with electronic deposits, per-transaction fees are considerably less than paper check processing.

Benefits