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

  • Effective Rate

    The effective rate shows the amount of volume a business pays in credit card processing fees to process a given amount. It is shown as a percentage,...

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  • MICR (Magnetic Ink Character Recognition)

    The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number...

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