Remote Deposit Capture uses your internet and a scanner to send third-party check images into your bank account from your business.
“Sorry, we cannot cash third-party checks.” We have heard it all before. Down the line, it was discovered that cashing payroll checks is a liability. One cannot be sure that the check is legitimate. However, what the banks seem not to care about is the disappointment that the customer (the payee) feels, in turn, gets taken out on the business (the payer). Now, where does this leave the business? In a world with disgruntled customers on the verge of boycotting the business all together. How do you change this, then? Well, Envoy Business Systems is the answer you are looking for.
Now, Envoy does not want to eliminate your current banking relationship by any means. In fact, it is the direct opposite, as our goal is actually to maintain a healthy banking relationship. We do this through Remote Deposit Capture (RDC)—software that uses your internet and scanner, to send check images from your business to your bank account. This eliminates “the waiting game,” and even the “honor system” that comes from cashing third-party (payroll) checks. Really, it is a win-win situation for everyone.
In addition to this, Envoy provides the ability to wire transfer or ACH into your business checking account. Of course, this is great, and leaves plenty of room for the growth in the volume of checks your business is able to cash weekly. Also, the software put into place by Envoy ensures many benefits for your business, which include but are not limited to, an accelerated rotation of working capital, better compliance, and improve efficiency and increase control within your establishment. A complete list can be found on their website.
To conclude, if your business is in need of a better check cashing system that ensures legality, and can only improve your business, then contact Envoy Business Systems today.