What are the key benefits for a business using Guaranty Remote Deposit?
Not only is this service easy to use, but it saves a business valuable time. You will no longer have to make trips to the bank or prepare deposit tickets. In addition, your checks are endorsed as they are scanned eliminating the need for manual endorsement.
What type of business is suited for this service?
This service is ideal for businesses that primarily deposit checks as opposed to cash, such as professional offices, contractors, wholesalers, manufacturers, physicians, attorneys and so forth.
What's the cost for a business to implement this service?
There are no implementation costs and we provide the scanner for your use. There is a $40.00 monthly fee.
How safe is this service?
Guaranty Remote Deposit is transmitted over the Internet and uses SSL 128-bit encryption technology, the current standard for secure Internet activity. Additionally, only authorized users having the necessary login information are allowed to access this service.
If the deposit is processed by the bank using the check images, what happens to the original paper checks?
It's the responsibility of the business to securely store the original checks and then destroy them after a 30-60 day period as determined by the organizations needs. The check image that results from scanning a check now becomes the legal replacement which will then be processed by the paying financial institution.
How do I sign up for Guaranty Remote Deposit?
Signing up for Guaranty Remote Deposit is easy – simply fill out an application and submit it along with attachments for approval. Upon approval you will receive a Customer Agreement requiring both your signature and the signature of a bank representative.div>