Remote Deposit Capture (RDC), in its most simple terms, is a service which allows a BEST Card Systems client to scan checks and transmit the scanned images and/or ACH-data to a bank for posting and clearing. The service allows for checks to be truncated and cleared electronically. Checks the BEST Card Systems client receives can be scanned to create a digital deposit. This digital deposit is then transmitted over an encrypted internet connection to the bank or BEST Card Systems, who then accepts the deposit, posts the deposit to your account and assigns availability based upon your availability schedule.
The commonly-viewed benefits of RDC include convenience, better deposit availability and reduced transportation cost & risk.
Recent legislation in the USA commonly referred to as “Check 21” was passed in October 2003 and implemented in October 2004. This legislation allows banks to clear checks based upon images of the original items, instead of having to transport the original check back to the paying bank for clearing.