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Strategic Check Back-Office Conversion (BOC)
Speed Your Point-of-Sale... and Still Deposit Checks Electronically!
Converting consumer checks into electronic transactions provides many benefits in time and cost savings. With Strategic Check BOC, (Back Office Conversion) you can now gain the benefits of electronic check conversion in your back office, rather than delaying customers at check-out. Strategic Check BOC is one component of our total Back Office Banker solution. We also specialize in electronic bank credits, internet business banking, and commerce online banking.
How Does Strategic Check BOC Work?
- You need to advise your customers that their checks may be converted into electronic transactions. The required notice can be provided by a sign at point-of-sale and/or a notation on receipts.
- With Strategic Check BOC, you simply accept checks in accordance with your regular acceptance criteria.
- Once checks are removed from the cashiers’ drawers, they may be scanned in your back office for depositing through Strategic Check BOC. A variety of volume-dependent scanners is available from Strategic Check to permit electronic depositing of any check (company, payroll, travelers, money order, etc.).
- Scanned account information or full check images can be reviewed via your account on Strategic Check BOC’s online website, and then released for processing.
- Strategic Check BOC/Back Office Banker automatically distinguishes between consumer items, which can be converted into electronic debits and processed through the national automated clearinghouse (ACH) system, or non-consumer items which are processed as substitute checks (otherwise known as Image Replacement Documents or IRDs).
- Consumer items processed by Strategic Check BOC are electronically debited from your customer’s account and in most cases available in your bank account within 24 to 48 hours. Non-consumer items can be made available as soon as the next day.
- Strategic Check BOC items that are returned as unpaid can be automatically redeposited electronically to increase collection.
Benefits to You
- Strategic Check BOC is simple; it requires only internet access, and one of our check scanners.
- Strategic Check BOC streamlines the check deposit process, and eliminates the need for trips to the bank to make deposits.
- Strategic Check BOC automatically archives all transactions (data and images), and provides reports that can be easily downloaded to your accounting software.
- Strategic Check BOC deposits into any bank, or banks, and permits consolidation of checks from multiple locations into a single account (if desired).
- Strategic Check BOC processing fees are minimal, usually reduce bank fees, and include redeposits of returned items without further transaction costs.