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Value proposition

Since the passing of the Check 21 law in 2004, one of the leading industry solutions has been remote deposit capture (RDC), which captures digital images of items so they can be electronically processed for forward cash collection. Corporate One uses TranzCapture LLC, a credit union service organization, as the platform for all its item processing services. TranzCapture’s remote deposit capture and deposit item processing streamlines work through its web-based platform that offers consolidated administration and processing for all deposit channels (branch, business, mobile and ATM/intelligent teller machines).

Users access TranzCapture through Members Only, Corporate One’s online member portal, and conduct all deposit item work, including verifying items, viewing archives and running reports from one consolidated platform. Members can count on robust reporting, real-time duplicate item and batch detection and same-day access to images in a seven-year archive.

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Deposit Return Services

As an addition to our Remote Deposit Capture solutions, Corporate One’s Deposit Return Services provide convenient and timely access to deposit returns with comprehensive reporting. And, with the changes to Reg. CC as a result of the implementation of Dodd-Frank legislation, Deposit Return Services provides an increasing value to credit unions who face shortened hold times and increased availability.

How does it work?

Deposit Return Services replace paper chargebacks and implement an electronic deposit return chargeback solution using image exchange, offering many of the same benefits as other electronically processed items.

Automatic redeposit options

Credit unions processing larger volumes of return items may benefit from two options when it comes to automatic redeposit: Redeposit All items with Return Reason code of NSF or set up a predefined threshold.

Benefits:

  • Automates decisioning of chargebacks using images and default thresholds, further reducing manual tasks
  • Powerful search capabilities and a seven-year image archive interface, with reporting capabilities
  • Secure role-based access control system
  • Online access to chargeback images

Chargebacks-only option

This option utilizes IRD printing (Provision to print substitute check or photocopy in lieu) with the ability for your credit union to print and present.

Benefits:

  • Credit unions receive an electronic file of chargebacks.
  • Return images are archived online for seven years.
  • Deposit return reports are available online, including:
    • Chargeback and re-deposited items with MICR line, return reason and links to check images
    • Notification of Large Dollar Returns Report (from EARNS)
    • Deposit/return timeline that reflects each deposit return and number of days since the deposit was made
    • Corporate One member-to-member returns
    • Check maker and payee information, if desired (additional fees apply)
  • Automated settlement occurs through the credit union's Corporate One account.

IRD printers and supplies are available through a vendor of the credit union’s choosing or Rosetta Technologies.