Remote Deposit allows you to make deposits electronically by utilizing a desktop scanner connected to your PC and the Internet. Users scan checks at their business location and then transmit data and check images electronically to Sandy Spring Bank for deposit.
This new service reduces or eliminates the need to deliver deposits in person. Remote Deposit allows you to make deposits from any of your business locations.
Prepare and submit deposits directly from any of your business locations. Make deposits when it’s most convenient for you, evenings (with an extended 7:00 pm cut-off), weekends or even holidays.
By depositing checks faster, the collection process starts sooner.
Reduce the amount of time spent preparing deposits and consolidate banking accounts. No more trouble getting to the bank before cut-off time.
Eliminate courier costs or employee trips to the bank. Consolidate multiple banking relationships and save money with reduced fees.
Improve Cash Flow
By depositing checks quickly, certain deposit items may qualify for faster availability.
Improved End of Month/Quarter Processing
Checks received on the last day of the month or quarter will post in the same period.
Remote Deposit Benefits:
- Extensive reporting capabilities
- Automatically reads the majority of checks with recognition technology
- Streamlined workflow processes including an automated virtual endorsement ticket
- Ability to automatically upload payment files into your accounts receivable system
- Automated transaction balancing and validation
- Multiple security layers
- Support of up to 12 additional fields provides ability to key additional information from images, such as name and address
- Integrated transmission function confirming transmission and reception of transaction data, including multiple deposits in a single day.
To open a Sandy Spring account: