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With Presidential Remote 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.
Enrollment & Client Form
Faster funds availability, reduced fraud and lost checks, and faster return item reconciliation provides your business a better cash flow opportunity. Plus, Presidential Remote 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, Presidential Remote Deposit clients receive an extended cut-off time for making deposits.
A check scanner is "installed" with your computer 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 computer 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 are 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.
Once enrolled, a check scanner will be provided. Examples are listed below, but actual scanners may be different.* The Presidential Remote Deposit service has specific requirements for your computer to integrate and work effectively with the service.
*Other certified scanners are available.
There is no up-front expense with Presidential Remote Deposit and no requirement to purchase expensive scanning equipment! The check scanner and necessary supplies are provided for a low monthly fee, which is currently $30.**
Even better news…it may be FREE! For businesses whose average monthly balance exceeds $15,000 or more within their primary account, or whose deposit relationship exceeds a monthly balance of $35,000 in for the fee to be waived.
Start saving time and money today with Presidential Remote Deposit! To enroll today visit any of our convenient branches or contact our Customer Service Center at 1-800-383-6266. For businesses located in the greater Metropolitan Washington, DC market, we can also visit your office to demonstrate the service and to answer questions, personally.
A Commercial checking account is required to use the service. Businesses wishing to open a commercial account must meet our documentation requirements. Positive verification of identity and all information is required.
For existing commercial customers, the enrollment process is quick and easy. Your Presidential Remote Deposit account can be set-up and ready to go in just a few days. Complete the Presidential Remote Deposit Enrollment & Client Form and submit via email to the address included on the form. The original signed form must be mailed to the address shown on the form. 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. Presidential offers assistance to help with the scanner installation. If needed, we can assist you over the telephone or by temporarily connecting to your computer (only with your approval) to help. Once installed, you may begin scanning and depositing checks directly into your account(s).
For more information, please contact our Customer Service Center at 1-800-383-6266, Monday through Friday, from 10am until 5pm Eastern Time. Ask for the Presidential Remote Deposit Department.
**The Presidential Remote 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.
*APY = Annual Percentage Yield
Presidential Bank reminds you that email@example.com is NOT a secure means of communication. Please refrain from including personal information such as account numbers, Tax ID/Social Security numbers, passwords, etc. We encourage you to maintain contact with us through our Secure Email service, located within Personal Online Banking. Help us keep YOUR personal information PRIVATE!
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