Advanced Business Deposit

Overview

Is your business still depositing cheques like its 1989?
Imagine saving the time and money you spend driving to branches while speeding up your cash flow by simply depositing cheques at your own place of business.

With Advanced Business Deposit, you can deposit batches of Cheques in seconds from the comfort of your own office. Cheques are scanned, reconciled, and deposited into your Prospera business account instantly.

✔️ Save time
✔️ Save money
✔️ Speed up cash flow



How it Works

Advanced Business Deposit uses the same technology that we use in branch, and is now accessible to you at your own place of work. It’s fast, safe, and secure!


Set Up
When you sign up, you’ll place an order for a Cheque scanner, install the software onto your computer, and login to your Advanced Business Deposit account online.


Create Deposit
Select the account you wish to deposit into, enter the total value of all the cheques you’re depositing in the batch, place them on the scanner, and select “Start Capture.”


Submit Deposit
Once your cheques are scanned confirm the amount, making changes if necessary, and click “Complete.” You’ve just done your bank deposit in minutes.



Fees

$35
Monthly Fee/Scanner
$90
Setup Fee
(includes up to 10 deposit accounts)
Scanner
Talk to an advisor for scanner options and pricing


Maintenance Fees

$90
Additional Deposit Account Group
$30
Removal of Deposit Account Group
$20
Additional Deposit Account
$5
Removal of Deposit Account


FAQ's


Are there any special requirements needed to run the Advanced Business Deposit software?
Yes. The chart below outlines the system requirements to run the software.




Operating System
A Microsoft Windows operating system capable of supporting the requirements listed below and all additional requirements of the Cheque scanner being used.




Web Browser
One of the following supported browsers:
  • Internet Explorer (32-bit version of IE 8, 9, or 10, or 64-bit version of 11 on Windows 8.1 (only when running with Enhanced Protected Mode off and not when using the "Metro" version of the browser))
  • Mozilla Firefox (current certified version: 25.0.1)
  • Google Chrome (current certified version: 31.0.1650.57)



Scanner Connectivity
An available USB 2.0 (or greater) port and the ability to locate the scanner at least 18 inches from its power transformer.




Firewall
Port 80 must be open for use by local applications. (Note: This port is normally open, unless a Web server is running on the workstation). No other applications can use the same port 80.




Display
A display adapter and monitor capable of at least 1024 x 768 resolution and at least 256 colours.




Additional Cheque Scanner Requirements
In addition to the requirements above, workstations must also meet all requirements associated with the model of cheque scanner being used. Refer to the appropriate information for the applicable cheque scanner to determine the additional CPU, RAM, free hard drive space, Internet connectivity, and scanner driver requirements.




How do I access Advanced Business Deposit?
You will receive a direct URL during setup.




Are Cheque images transmitted securely?

Yes. There are three features to help ensure the application is secure:
  1. Users of the software are authenticated using Central 1’s secure site authorization and provided access by the FIs’ security officers.
  2. Cheque images are transmitted securely from the capture software using an HTTPS connection.
  3. The corporation must be registered by the financial institution with Central 1 to access the application.



Can more than one person create deposits?
Yes. Anyone assigned as an Advanced Business Deposit User can create deposits.




What are the different user roles and what are their responsibilities?

Advanced Business Deposit User

Responsibilities:
  • Scans cheques
  • Corrects deposit errors
  • Balances and completes deposits


Advanced Business Deposit Supervisor User

Responsibilities:
  • Reviews deposits
  • Disapproves deposits with errors
  • Assigns incomplete deposits to other Capture users at the corporate location
  • Transmits deposits for processing
  • Creates deposit Reports


Advanced Business Deposit Analyst User

Responsibilities:
  • View only access to deposits
  • Creates deposit reports





How many cheques should be scanned in each deposit?
For businesses with significant volume it is recommended that each deposit does not contain more than 100 items.




Will each cheque appear as a separate item in my account?
No. The sum total of the batch deposited will appear as an entry in your account.




How many times a day should I scan cheques?
Scan your cheques throughout the day to prevent backlog.




Are there any cut off times for depositing?
No, there are no cut-off times.




What currencies are accepted?
Canadian and US currencies are accepted. US cheques need to be separated from Canadian cheques in a batch of their own, and deposited into a USD account.




What should I do with the cheques after they have been deposited?
Retain the physical cheques in a secure locations for 90 days, as that is the time frame that cheques can be returned due to poor image quality. Destroy them no longer than 120 days after deposit.





To find out how you can get started with Advanced Business Deposit, contact a Prospera Business Advisor today!