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Remote Deposit Capture Discussions Discuss the ins-&-outs of Remote Deposit Capture here. No vendor solicitations here please.
Discussion Boards > Remote Deposit Capture Discussions > working on a job assignment, need your expert help on Remote Check Deposit Service View modes: 
User avatar
babkuzy - 6/19/2019 2:58:46 PM
working on a job assignment, need your expert help on Remote Check Deposit Service
Hi Guys,

I applied for a startup that deals with P2P transfers sort of like Venmo/paypal... the assignement that I got asked how we can offer our app users remote check deposit service..... and they asked 2 questions:

1. Are you going to pursue any parternship or start from scratch?
2. Funds flow and  any required licenses?

After doing a little research.. the only way to do this from scratch is to acquire a banking license and do everything in house which would take years and really expensive (unless you buy out a bank)

So reasonable option is to partner with a RCD vendor that will provide you with the RCD technology..... and you will also need to setup a corporate bank account for the check to clear as well... correct? 

My question to all you experts is...

Are there any RCD vendors or 3rd party payment providers that also clear the checks? or ultimately its sent to a bank?

How do you see the flow of the funds? what am I missing here?
  1. Individual/Business receives a physical check
  2. Check is scanned using Remote Deposit Capture/API
  3. This image is then transmitted to a payment gateway portal
  4. A file is created (image-based deposit) and submitted electronically to a bank for deposit
  5. The bank receives  the file/image deposit  and posts it to  corporate account and assigns clearing date
Anyway, any other solutions would be great , thanks guys

User avatar
wSDkAt9mRC - 6/20/2019 1:23:37 PM
RE:working on a job assignment, need your expert help on Remote Check Deposit Service
The short answer is yes. You have the overall flow correct, but there are few missing steps. The startup will require an RDC processor that can process the check images to create Check21 images and data.  The Check21 images & data are delivered to the startup's depository bank via a cash image letter (or X9 file). 

Please feel free to email direclty:
Charles Herel
VP Business Development, Deposit Solutions

User avatar
pandrews - 6/20/2019 1:31:46 PM
RE:working on a job assignment, need your expert help on Remote Check Deposit Service
Most organizations work with a solution provider to do some portion of the process, and I would recommend that option in this case. All of the big providers (Fiserv, FIS, JHA, Deluxe, NCR) have some sort of solution available depending on geography and volume. This would include the capture SDK.

JHA/Ensenta has a complete solution that includes mobile capture, risk mitigation and movement of funds. This removes the need to acquire a MTL (money transmiter license) for each state you would operate in.


User avatar
wilfredo.jaurgeui - 6/22/2019 3:05:53 PM
RE:working on a job assignment, need your expert help on Remote Check Deposit Service
Contact me to evaluate opportunity we currently clear checks as a form of payment using RDC and X9.37 standards with several FIs

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RE:Bank vs. Credit Union: Which is more likely to have losses due to Duplicates?

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