Deposit Checks From Your Business

Desktop Check Deposit is available to businesses who have a commercial account at Presidential Bank. With Desktop Check Deposit, there’s no need to drive to the bank or to mail checks in for deposit. Save time, personnel and mileage expenses, and eliminate risk. Simply scan checks into your registered accounts from the comfort and safety of your place of business. It’s that easy…and safe!

Improve Cash Flow

Faster funds availability, reduced fraud and lost checks, and faster return item reconciliation provides your business a better cash flow opportunity. Plus, Desktop Check Deposit’s workflow efficiencies enables faster processing of your deposits and reduces tiresome paperwork by creating deposit tickets, balancing funds, and notifying you when deposits have been received. Furthermore, Desktop Check Deposit clients receive an extended cut-off time for making deposits.

How It Works

A check scanner is ‘installed’ with your PC and linked to one or more of your deposit accounts through a secure, encrypted connection. Installation instructions along with a User Guide are provided, but we’re always a quick call away to assist. We can even temporarily link to your PC to help install the system, with your permission of course. Installation and set-up takes less than one hour.

Once installed, you may begin depositing checks. You’ll scan checks into the system where they will be converted into electronic images recording the front and back of each check. The system then captures the bank routing number, the account number on each check, plus the amount of each check. Next, a deposit ticket is created along with the deposit balance. You’ll verify the balance and correct any errors. Once the batch is verified it’s ready to be transmitted to the bank. A confirmation receipt will be emailed back to you as verification. A second authentication takes place at Presidential, just to ensure the safety and security of your account(s). If there are any problems, we will contact you immediately.

For your convenience, checks may be scanned and deposited as they’re received or in batches throughout the day. Deposits can also be directed into multiple registered accounts. The original paper checks will be securely held by your business for a specified period according to the terms of the service agreement. Once the retention period has been met, original checks may be destroyed or sent back to the issuers.

For a more thorough overview, see the demo below.

OTHER HELPFUL INFORMATION

CHECK SCANNERS

Once enrolled, a check scanner will be provided. Examples are listed below, but actual scanners may be different*. The Desktop Check Deposit service has specific requirements for your PC to integrate and work effectively with the service.

Manufacturer	Model	Feed	Printing	Speed
Panini	MyVision XIF®	Single	Endorsement	30 DPM
Unisys	Smart Source® Professional Series	Auto (50 docs) with Single out-pocket	Endorsement	30 DPM

*Other certified scanners may be available.

Cost

There is no up-front expense with Desktop Check Deposit and no requirement to purchase expensive scanning equipment! The service, check scanner and necessary supplies are provided for a low monthly fee, currently $30.**

Even better news…it may be FREE! For businesses whose average monthly balance remains $15,000 or higher within their primary account, or whose entire deposit relationship averages a monthly balance of $35,000 or higher, the fee will be waived. Real value and convenience.

Enrollment (New Commercial Customers)

Start saving time and money today with Desktop Check Deposit! To enroll today visit any of our convenient DC area branches or contact our Customer Service Center at 1-800-383-6266. We can also visit your office to demonstrate the service and to answer questions personally. Call 1-800-383-6266 to schedule an appointment (DC Metro area businesses only).

A Commercial checking account is required to use the service. Businesses wishing to open a commercial account must fulfill all documentation requirements. Positive verification of identity and all information is required.

Existing Commercial Customers

For existing commercial customers, the enrollment process is quick and easy. Your Desktop Check Deposit account can be set-up and ready to go in just a few days. Complete the Desktop Check Deposit Enrollment & Client Form and submit via email to the address included on the form. The original signed form must be mailed as well. Client Form Instructions will guide you through the enrollment process. Once the account is set-up, usually within a couple of days, your service agreement will be sent for your signature and return. Upon receipt of the signed Agreement, we will process the shipment of your scanner and installation package, which usually takes 5-7 business days to arrive at your location. You may install the scanner yourself or we can assist you by telephone or by temporarily connecting to your PC. Once installed you may begin scanning and depositing checks into your account(s).

For more information, please contact our Customer Service Center at 1-800-383-6266, Mon-Fri, 10am-6pm Eastern Time. Ask for the Desktop Check Deposit department.

**The Desktop Check Deposit service fee may change at any time, however the fee established within an executed Agreement remains in effect for the duration of the Agreement.