What is Remote Deposit Anywhere (RDA)?
Remote Deposit Anywhere (RDA homepage) is the ability to deposit a check into a SFSB checking or savings account from anywhere, without having to physically deliver the check to the bank. This is typically accomplished by taking a picture of the check with the camera function of your smartphone, then transmitting that image to the bank, a practice that became legal in the United States in 2004 when the Check Clearing for the 21st Century Act (or Check 21 Act) took effect.
The Check 21 Act makes the digital image of a check legally acceptable for payment purposes, just like a traditional paper check. RDA should not be confused with Direct Deposit which refers to the practice of posting an employee’s earnings directly into their bank account. RDA allows you to scan an image of a check, send the image to Security Federal electronically, and see the funds added to your account.
What are the benefits of using RDA?
Convenience is number one! RDA allows you to deposit a check into your SFSB checking or savings account from your home, office or anywhere with SFSB Mobile Banking 24 hours a day, 7 days a week.
Am I eligible to use Remote Deposit Anywhere?
Certain qualifications for using RDA must be met.
- You must have a SFSB personal checking or savings account.
- A smartphone (Apple iPhone or Android) and/or a tablet is needed to utilize the app in conjunction with SFSB Mobile Banking.
What accounts can accept RDA deposits?
- Your Way Checking
- 24/7 Student Spending
- Health Savings Account
- Your Way Savings
- Premier Money Market
Is there a fee?
There is no fee for using the Remote Deposit Anywhere app to deposit your checks into a SFSB checking or savings account.
How do I get started?
Call us, visit a branch or email email@example.com (with a subject line of "Please enroll me for RDA") and a Customer Relations Manager will get you started.
How do I know that my deposit was accepted?
You will receive an email notification immediately that your scan was received.
What if I scan my check and it does not get accepted?
If your scan is rejected, try adjusting the brightness or contrast settings on your device. Sometimes when the contrast between the print and the background of the check is not great enough scanning can be difficult.
Are there any limits or restrictions on the items that can be deposited?
Yes, we have daily and monthly limits.
No more than 10 items per day for a maximum dollar amount of $1,000
No more than 50 items per month for a maximum dollar amount of $5,000
What do I do with the check once it’s been scanned?
When a check is scanned using RDA images of the front and back of the check are taken. These images will be sent as an Image Replacement Document (IRD) and will be processed as if it were a paper check brought into a SFSB branch location. You are required to keep the physical checks in a secure location for 60 days. After that, please destroy the check by using a crosscut shredder or incinerator.
What is the cut-off time for processing checks?
Checks may be deposited anytime, however if you would like to receive credit for that check with today’s work, it must be submitted by 5:00pm Eastern Standard Time.
What is the safety and security of Remote Deposit Anywhere?
Security Federal Savings Bank takes the responsibility of protecting our customers’ information very seriously. Keeping your information safe has always been and will continue to be our number one priority. Our systems are protected against compromise and attack.
RDA users should be concerned with what to do with the deposited item once the scanning is completed and the transaction posted.
- Do not throw the check out in the trash.
- Do not keep the original check in a file folder forever.
After the original check has been successfully scanned and processed, the check should be destroyed using a cross-cut shredder or an incinerator. This should be done 60 days after the item has been deposited. While waiting to verify the deposit, the check should be locked in a safe just like you would lock up cash. Why? Checks are like cash. They should be treated as carefully.