Is A Daily Trip To The Bank A Relic Of The Past?
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Not so long ago, administrative law offices would become silent as personnel packed up and made their daily trip to the local bank to deposit client fee income. While some administrative personnel cursed the time away from productive pursuits, many enjoyed the time away from the office. They would get to have social interactions with friendly bank staff, perhaps stop by the grocery store on the way back to the office, or maybe grab a bite to eat. As we all know, a firm must have cash in the bank in order to conduct business. Thus, many firms found it necessary to sacrifice office productivity in order to ensure deposit availability.
Along came Remote Deposit Capture (RDC). With the advent of “Check 21” legislation in October of 2004, banks were allowed to clear electronic images of checks. Out of this legislation, RDC was developed. RDC enables law firms to scan the checks they receive and transfer the images electronically, via an internet connection, to their bank for posting and clearing.
RDC saves time by eliminating the need for a person to physically take checks to the bank. RDC has also proven to be a great mechanism to assist in arranging administrative personnel workflow and eliminating the “downtime” involved with them having to personally deliver checks to the bank. It has been our experience that, even though administrative personnel miss the social interaction, they quickly see the benefits of RDC and the time it frees up for them to accomplish other tasks throughout the day.
Generally, the time and resources saved by implementing RDC in your office will more than offset the fees associated with the service. A quick analysis by Western Capital Bank can show you how this service may make sense for your office.
Please contact Jeff Banks at 208-332-0718 or Tara Penland at 208-332-0714 if you would like to learn more about Western Capital Bank’s RDC product, “UScan,” and how this service can help your practice run more efficiently.
Western Capital Bank
Member FDIC.
