Town North Bank - Remote Deposit FAQs

TNB Remote Deposit FAQs

What are the minimum PC requirements for using TNB Remote Deposit?
Windows 2000 SP3 or Windows XP SP1 or higher
1 GHz processor
256 MB RAM
200 MB free disk space
High-speed Internet access
USB 2.0 port
8MB Video
Acrobat Reader 5.0 or higher
Java plug-in version 1.4.2. or higher

Why are the minimum system requirements so high?
TNB Remote Deposit service is designed to quickly scan images under software control and perform extensive edits, including duplicate item detection and MICR line Image Quality Analysis. This environment requires a fairly powerful PC.

Will I need technical experts to install the software?
The Remote Deposit software was developed to be self-installed using Install Wizard technology that will prompt you through each step of the installation process. In addition, you will receive an instructional DVD plus a toll-free number to call for technical support during installation.

Will Town North Bank do on-site installation for me?
Installation of the Remote Deposit software does not require on-site visits by Town North Bank technical support, however we will be happy to assist if you are not comfortable with the self-installation process.

Can the software be used over a LAN network?
No, the Remote Deposit software is stand-alone and must be installed on each PC. Scanners must be attached to a single PC as well.

Can Travelers Checks and Treasury Checks be scanned and deposited using Remote Deposit?
All types of checks may be sent through Remote Deposit as long as they are payable in U.S. dollars (USD) and drawn on banks in the United States (U.S.).

Do Travelers Checks and Commercial Checks have to be processed in separate files?
All eligible checks can be co-mingled in a single Remote Deposit transmission.

Can Money Orders be scanned and deposited using Remote Deposit?
Yes. However, some money orders do not produce clear scans and may be rejected as you are scanning. These items must go through normal deposit channels.

Can foreign currency checks be processed through Remote Deposit?
No. Remote Deposit is only for checks payable in USD and drawn on banks in the U.S. with a valid U.S. routing and transit number.

Can multiple deposit accounts be used at a single location?
Yes, deposit account numbers are configured during implementation. When a deposit is created with the Remote Deposit software, you select the deposit account from a drop-down list. A virtual deposit ticket is automatically created using the selected account number.

Can multiple deposits be transmitted each day?
Up to 99 deposits can be sent per day. In general we encourage you to transmit deposits when they are complete.

What is the maximum number of checks that can be deposited in a single deposit?
The maximum should be 50 checks, as this keeps the balancing and transmitting process simple and cleaner.

What information is sprayed on the back of the check during the scanning process?
Town North Bank, N.A., 111904503, Date, Time.

Do I still need to endorse the back of each check?
Yes, each check will need to be stamped with your current endorsement stamp.

Do I need to enter the dollar amount of each check?
Using optical Courtesy Amount Recognition and Legal Amount Recognition (CAR/LAR) technology, the software will attempt to recognize the written and courtesy amount on the face of each check to pre-populate the amount field required for balancing.

What happens if the amount is not recognized by CAR/LAR?
You will be prompted to key the dollar amount of the check from a displayed image during the "Correct Items" stage of processing. CAR/LAR read rates vary depending primarily on the quality of the source check.

What is the process for balancing deposits?
When opening a new deposit in Remote Deposit, you must declare a total deposit amount. The total value of the scanned checks must equal your declared total before the deposit can be transmitted to Town North Bank. The software provides all necessary tools to ensure a balanced deposit.

Can the amount of the deposit ticket be corrected during the balancing process?
Yes, there is an icon within the application that allows you to re-calculate the total amount of the deposit and insert a new virtual deposit ticket if it discovered, during the balancing process, that the amount was incorrectly entered.

Can a check be added or deleted during the balancing process?
Yes, the software allows you to add missing items or delete items discovered during the balancing process.

When may I transmit deposits?
Deposits may be transmitted 6:00 AM to midnight Central Standard Time (CST). However, you should be aware of deposit deadlines to receive same-day credit. Any file received before 4:30 PM (CST) on a bank business day will be posted to your account same day. All deposits received after 4:30 PM (CST) will be posted to your account the next bank business day.

How long does it take to transmit a deposit?
Transmissions are accomplished over a secure high-speed Internet connection, such as DSL or cable. The time required to transmit a deposit will depend upon the size of the images and the kind of Internet connection.

How will I know that Town North Bank received my deposits?
The status of a deposit can be reviewed through the Remote Deposit software anytime. You can also have Town North Bank send an e-mail indicating the deposit has been received and processed.

Once a transmission is complete, is it possible to delete a check from the deposit?
No, once a transmission is complete, no changes can be made to the deposit content.

How long should I retain the original checks?
After the deposit has been made, the deposited checks must be kept in a secure place. Once the deposit has been confirmed, it is up to the company to determine appropriate timeframes for check retention and destruction. We recommend the original checks be kept at least five days and not more that 60 days. Town North Bank suggests that each item submitted through Remote Deposit be destroyed using a cross-blade document shredder.

Who is liable for losses if the original of an item deposited through Remote Deposit is presented somewhere else?
As detailed in the Town North Bank Remote Deposit Agreement, you bear all responsibility for safeguarding the original items and preventing their re-entry into the clearing system.

Who will use the system?
Individuals already in charge of manually preparing deposits are typically the main users of the automated process. Individuals initiating deposits are not required to be authorized signers on the account. However, all customer agreements must be signed by an authorized signer.

How long does it take to get set up?
Within two weeks.

What security controls are provided by TNB Remote Deposit?
Users access rights, depository restrictions, and review criteria levels are controlled within the TNB Remote Deposit transmissions from your PC and protected by 128-bit encryption. (Additionally, substitute checks are printed with an ID number on watermarked paper, in fully secured and controlled print facilities.)

How long can I view the history on TNB Remote Deposit?
Deposit images are available on a secure Web site for viewing and printing for up to two years.

How would I receive notification of an NSF?
Returns conform to current returns processing with a substitute check being returned in place of the truncated original check to the bank of first deposit.

Do I pay extra to set up multiple accounts for deposit?
Each location can have as many accounts as they prefer without additional charge. However, each location with a scanner will be charged a monthly service fee.

Are the monthly fees passed to the analysis of my account?
Yes, TNB Remote Deposit fees will appear on the monthly account analysis statement. Scanner purchases will be billed directly to the company for payment.

Why are the per-item charges higher?
An additional charge is added to each of the items deposited to cover Town North Bank's expense of printing the substitute check.

Can the deposit information on the TNB Remote Deposit software be transferred to my receivables software?
Companies have the ability to export the information from TNB Remote Deposit and can manipulate the data for the benefit of the company. Some companies have written small executable programs to map the deposit information into their accounts receivable software.