Cambridge State Bank is pleased to offer Remote Deposit to our Business Banking customers. Remote Deposit is a check processing tool that allows you to deposit checks electronically without having to bring them to a physical branch for deposit. It utilizes a desktop scanner that connects to the merchant's PC and the Internet. With it, you can scan checks received from customers and issue deposits electronically to the bank, anytime day or night. It is the fastest way to turn check deposits into cash!
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Options / Benefits
With Remote Deposit, you get the following benefits:
- Faster funds availability
- Online speed and convenience
- Extended deposit posting period: Monday - Friday until 6:00 p.m.
- Less time preparing deposits
- Consolidation of funds from remote locations
- Reduced risk of check fraud
- Reduced courier fees and trips to the bank!
Checking Account Requirement
Business Analysis Checking Account: A cost-effective account for businesses with larger account balances and/or transaction volume. Earnings credit can help offset potential service charges, monthly maintenance fees and remote deposit fees.
- 3 year commitment of deposit account or *purchase remote deposit scanner. Account must be an Analysis Checking Account. Remote Deposit fee is $60 per month charged via Analysis. So it is possible to offset this monthly fee based on account balances.
- *If we do not receive a 3 year deposit commitment, the cost of the scanner is approximately $650 which includes shipping/handling and a 1 year warranty. See Joanne Boden for actual costs.
How does Remote Deposit work?
- Receive a check from your customer
- Scan the check at your office using a scanner provided by Cambridge State Bank
- The check image is captured and processed electronically
- Your deposit is electronically made and available in your designated Cambridge State Bank account!
What do you need in order to access Remote Deposit?
- A PC with a current version of Windows XP or 2000 and a USB 2.0 port
- A supported desktop check scanner (provided by the Bank)
- A high-speed Internet connection
- A business account established at Cambridge State Bank