Managing Electronic Deposits – Check 21
RT Lawrence Corporation (RTL) provides a variety of electronic payment solutions including options for “electronic deposit”. In October 2004, the Federal Government issued the Check Clearing for the 21st Century Act. This issuance was “designed to enable banks to handle more checks electronically, which should make check processing faster and more efficient” according to the FDIC. Organizations now have a variety of deposit options whether it be Check 21, ACH or Traditional banking deposits.
Quicker Access to funds, reduction of float
Check 21 is built into our Remittance Processing solution, it is Check21 ready! Customers processing their payments through our solutions incorporate the latest recognition technology to ensure payments are validated and meet your specific banking institutions Check 21 clearing requirements.
Incorporating Check 21 deposit into your operation will allow your organization:
- Quicker Access to Funds
- Incorporate a more efficient process while reducing and/or eliminating transportation costs
- Access to payment details FASTER (NSF’s, closed bank accounts, etc.)
- Elimination of transit times between banking institutions
Our Check 21 Solution can allow you to accept/deposit check payments from your main corporate office, remote offices, mobile devices and more.
Still have questions? We want to hear from you. Our experts are passionate about payment processing and will walk you through our Check 21 solution.
For more details on the Check 21 Clearing Act, click here for information from the FDIC.