Solutions

Remote Deposit Capture - The Check 21 Solution for Merchants

FEDChex has partnered with Wausau Financial Systems to offer a robust Remote Deposit Capture solution which offers an innovative approach to check truncation via ACH and Check 21. Utilizing new Federal legislation while leveraging the power and flexibility of FEDChex's ACH processing system, this service offers merchants the quickest time to deposit without the headaches of point-of-sale truncation. This RDC platform is further expanded with FEDChex's Balanced Consolidated Returns (BCR) and Electronic Check Re-presentment solutions (also known as RCK). These components allow for consolidated returns, which will result in a faster and more efficient return of bad checks.

Merchants adopting the solution will benefit from an additional re-presentment on top of the standard number allowed by their banks. Under this model merchants are not charged for check re-presentment, and once collected, merchants receive 100% of the face value of the check.

Features

One method for all check deposits. Check, Lockbox, WEB, and TEL all managed identically in a centrally managed account
Accept and deposit business checks electronically
Eliminate sweep accounts, consolidated return accounts, and field deposit accounts
Full reporting and reconciliation based on merchant requirements with no impact to existing processes
Secure direct access to all deposit information down to the individual check images on demand 24x7

Benefits

Reduction of total depository expense and banking fees
Same-day credit on deposits/accelerated funds availability
No change to check acceptance procedures
Accelerated notification of returns
Seamless integration with RCK-collections process
Reduction of corporate risk and employee liability

FEDChex's RDC System:

Works with any U.S. Bank
Complies with all NACHA and federal rules and regulations
Fast and easy implementation
Customized to meet your existing operational requirements
Fully integrated within the FEDChex product suite

Testimonials

Cox Foodarama

"At Foodarama, our primary goal is to always provide the best possible service to our customers. FEDChex’s approach to payments and consumers fully supports that goal," said Carroll Cox, CEO and Founder of Cos’s Foodarama. "I’ve been victim to a lot of vendor promises, but in all my years in the industry, I’ve never before seen a company who delivered everything they promised before they received one bit of our business. FEDChex has earned our trust by proving what they can do."

800.992.6713