Update at a Glance
April 14, 2008
Remote Deposit Services Expand Globally
Leveraging its strong international presence, BNY Mellon Working Capital Solutions has greatly expanded its Remote Check Deposit service overseas. Global clients representing 19 countries worldwide (excluding the U.S.) are now using, implementing or planning to implement the service.
Remote Check Deposit enables clients to scan check deposits remotely and transmit the deposits electronically to The Bank of New York Mellon for presentment.
The service eliminates the physical transportation of check deposits, a process that traditionally incurs high fees and lengthy processing times for international clients handling the delivery of USD checks, traveler checks and money orders. Funds availability is also enhanced as deposits can occur multiple times daily, at any time of the day or night in a matter of minutes (versus days, or even weeks, in the paper based deposit process).
The Bank of New York Mellon was an early provider of Remote Check Deposit as a Web browser-based — or "thin client" — application, a technology that has greatly facilitated deployment of the service overseas as its installation requires only an Internet connection. The streamlined software also requires less technical support to install, and software enhancements can occur without inconveniencing the customer.
According to The Bank of New York Mellon Treasury Services Deputy Sector Head Eric Kamback, "The Web browser-based solution simplifies the implementation and maintenance of the service for our worldwide customers and provides unprecedented flexibility in receiving deposits. As such, it is a key solution for taking us closer to our customers' doorsteps overseas."
BNY Mellon Working Capital Solutions’ Remote Check Deposit service is currently deployed in the following countries*
- Australia
- Egypt
- Germany
- Grand Cayman (British Overseas Territory)
- Honduras
- Italy
- Jamaica
- Lebanon
- Oman
- Panama
- United Kingdom
- Haiti
- Trinidad
Countries soon to implement the service include:
- Costa Rica
- Peru
- New Zealand
- St. Lucia
- Brazil
- Botswana
*Excluding the U.S.
For more information, call us at 1 800 424-3004 or e-mail us at treasury@bnymellon.com.