What is remote deposit capture? Learn more here.

Frequently Asked Questions about Remote Deposit Capture


 
What is Remote Deposit?
Remote Deposit offers your business the ability to capture the images and transaction information of checks accepted for payment and deliver this information electronically to Guaranty Bank & Trust as if the items had been physically received and captured.
 
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 manually prepare deposits.
 
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.
 
How does Guaranty Remote Deposit work?
Using Internet based technology, you submit checks for deposit using a PC and scanner located at your business. Each check scanned for deposit generates an electronic image that is transmitted to Guaranty Bank & Trust. The deposit will be credited at the end of the day. Funds will be available the next day.
 
How late can I make a deposit and still get same day credit?
Deposit made via Guaranty Remote Deposit have an extended cutoff time for same day deposits of 4:30 p.m. Central Standard Time, Monday - Friday. Saturday deposits will roll over to Monday. Traditional deposits made at the bank location have a cutoff time of 4:00 p.m. Central Standard Time, Monday – Friday.
 
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 $50.00 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.
 
Who will use the system? And what type of training will be provided?
Individuals already in charge of manually preparing and making deposits are typically the main users. Your business will receive your choice of personal on-site or remote access training from Guaranty Bank & Trust staff and a training guide.
 
Who would I contact for more information about Remote Deposit?
Contact us, at 1-888-572-9881, or stop into any Guaranty Bank & Trust location.
 
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.
 
 
 
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