What is Remote Deposit?
With Remote Deposit your business can scan and submit your check deposits electronically from the convenience of your place of business.
Why Should I Use Remote Deposit?
The service allows for faster deposits, more efficient collections, and tremendous convenience for you and your employees.
Do I Need to Buy Hardware to Use Remote Deposit?
There is no software to install, no computers to upgrade, and no PC to dedicate exclusively. All you need is a Windows PC with a high speed Internet connection, Microsoft Internet Explorer browser and the check scanner that we provide.
How Does Remote Deposit Work?
You accept check payments from your customers and simply scan and submit those checks securely over the Internet to Mahopac National Bank. We process your deposit as we would with physical checks.
What Type of Computer Do I need?
Minimum system requirements are a computer running Microsoft Windows 2000 or higher, Internet Explorer 7.0 or later, a high speed Internet connection, and an available USB port for the scanner we provide.
Are My Deposits Available to Me Faster?
You can deposit as often as you like. Deposits made before 6pm (except for weekends and holidays) are credited to your account the next business day, subject to our normal funds availability policy.
Do I Need to Endorse the Back of Each Check?
No, the system will create a Virtual endorsement.
Do I Need to Make a Copy of Each Check?
No. Once a check is scanned, you retain the original, up to 30 days. A detailed report lists each check in the deposit, along with all of the information about the check. Good practice would be to retain the original checks, attached to a copy of the report.
How Long Do I Keep the Checks?
Good practice would be to store the original checks in a secure location until you receive your bank statement that shows the deposit and then shred them.
What if a Check is Returned for Insufficient Funds?
We will return the image of the check to you in the mail, just the same as any paper check that is returned unpaid.
Do I Need to Prepare a Deposit Ticket?
No. Our software will create an image of a deposit ticket for each deposit you make, and the image will be included on the checking account statement we mail you each month.
How Do I know if the Bank Has Received My Deposit?
When we process your deposit, an automated report will be sent back to you, and will appear on your report list. You will also see the deposit posted to your checking account when you sign on to Internet Banking.
Can I Import Deposit Information Into Other Software?
Yes. Detailed information for each check in each deposit can be exported as a comma delimited file, with optional fields for customer numbers, invoice numbers, etc. The file can then be imported into any application software for automated reconciliation.