8. Why does your credit card processing application require my Social Security number?

As a result of the events of September 11, 2001, the Federal government passed the USA PATRIOT Act of 2001 to help the government fight the funding of terrorism and money laundering activities. The Patriot Act requires all financial institutions to obtain, verify and record information that identifies each person with which they establish a customer relationship. What this means: If you enter into a new customer relationship with any one (1) of our credit card processors, including but not limited to First Data, First American Payment Systems, Bank of America, we will ask for your name, address, date of birth (as applicable) and other identification information (including information about the owners of the business, such as a Social Security number). In certain circumstances, the Patriot Act or our policies may require documentation or information beyond that requested on your initial application. If all required documentation or information is not provided, we may be unable to open an account or establish a customer relationship with you.

This information will be used by the selected credit card processor to verify your identity and satisfy the requirements of Federal law. Confidentiality of the information gathered by the selected credit card processor will be maintained as required under applicable Federal and state privacy laws.

If you’d like a more detailed explanation for the requirement of a social security number to complete a merchant processing application, please contact Member Service Group today at (888) 697-8831.

9. With Remote Deposit, how many checks per minute can the best check scanner handle?

The RDM EC7000i scanner is a single feed scanner that can scan approximately 6 checks per minute. The Epson CaptureOne scanner is a batch feed scanner with a 100 document feeder and scans at 30 checks per minute. There are also other models available that scan up to 90 checks per minute. Daily check volume would dictate which scanner would be best suited.

10. With Remote Deposit, how many days does it take for the funds deposited from the scanned checks to reach a merchant’s bank?

For deposits made by 8pm ET, RDC makes an ACH credit into the designated merchant account(s) that same night. The merchant’s bank will then post the ACH credit to the respective merchant’s account(s) sometime the following business day. Since it is an ACH credit, there is no hold on the funds and the credit is in the total amount of the corresponding deposit made the previous day.