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Coastal Bank adds remote deposits
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SAVANNAH — The Coastal Bank recently launched remote deposit capture technology that allows businesses to deposit checks without actually having to set foot inside the bank.
Using a bank-provided check scanner and the business’ own Windows-based PC, business customers can now scan, proof and send deposits from their business. The machine automatically scans the checks and the images are transmitted via a secured Internet connection to the bank for deposit.
“This new remote deposit capture system is part of our ongoing commitment to new technology in banking,” J. Thomas Wiley Jr., bank president and CEO, said. “We have developed a program that will benefit our existing customers and potential customers for a long time to come.”
Before implementing the system, bank executives researched the technology and discovered not all remote deposit programs are equal. They decided on a Web-based software offered through Fidelity.
“This translates to an optimal level of security for both customers and for the bank,” said Wiley. “We also have the ability to review transactions and offer assistance when needed so that our customers receive premium customer service without having to leave their office. We provide hands-on training at no extra cost to our business customers.”
With the new RDC technology, checks can be deposited from a desktop or laptop computer any day of the week at time. Wiley said that could cut businesses need for staff to take deposits to the bank.  
“The biggest benefit is the convenience,” Chap Bennett, Coastal’s senior vice president, said. “Instead of having to drive to the bank by a certain time, you can deposit your checks until 4 p.m. and still receive same-day credit.”
RDC technology become reality with Check 21, the Check Clearing Act for the 21st Century, which became federal law in 2004. It authorized electronic check exchange, enabling banks to create, transmit and use digital images of checks.
“From a business standpoint, this product has the potential to become as popular as debit cards are for consumers,” Bennett said.
The American Bankers Association’s Community Bank Competitiveness Survey, which was released in February, indicates that 16 percent of the 590 banks responding now offer remote capture. Another 33 percent plan to offer it this year, with nine percent planning to implement it in 2008 or later.
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