Remote Deposit

Remote deposit (or remote deposit capture) is the process of converting paper or mailed-in checks to an electronic file for processing.

Related Terms

  • Settlement Date

    The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.

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  • WEB (Internet Initiated Entries)

    A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.

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