3.1 Prepare the Deposit
- All Key Capture Deposits are to be no more than 300 items, and should not exceed a total deposit amount of $10 million.
3.2 Scan Checks
After clicking ‘Continue,’ the application will begin communication with the scanner, beginning the scanning process:
A notification will be provided when scanning is complete. After submitting the deposit, a pop-up window will appear with basic information regarding the deposit. You can choose to go back and edit the deposit, or submit it for processing. A ‘Submit Deposit?’ example appears below.
After clicking ‘Submit Deposit’, the deposit receipt will display. You can choose to print the receipt, or can continue back to the Home Page screen by clicking ‘OK.’
3.3 Balance Deposit
3.3.1 In-Balance Deposit
The transaction is in balance when the total amount of the checks scanned equals the amount of the expected deposit total and the amount in the ‘Difference’ field displays as ‘0.00.’
If a deposit is out-of-balance, an alert will be displayed in the upper left hand corner of the screen showing:
In an out-of-balance situation, after clicking ‘Submit Deposit,’ the following screen will appear. Users may either ‘Edit Deposit’ or ‘Update Total’; then proceed.
3.4 Exit Key Capture
To exit Key Capture, close the browser.
3.5 Deposit History
Previous deposits are available for review and research by accessing the main screen. Click the deposit to review that specific deposit.
While reviewing deposited items, you will also be able to view the virtual endorsement feature (if enabled), which will display the following information:
- Corporate ID (within the Key Capture system)
- Deposit Account Number
- The phrase, “For Deposit Only”
Refer to section 6.1 Virtual Endorsement to view a virtual endorsement example.
Deposit history is retained for 90 days, and deposit history can be sorted by date, amount, account or location by selecting the headings. Key Capture User Guide
3.6 Check Retention & Destruction
According to the terms of the Key Capture agreement, clients are required to maintain a policy and process related to the secure retention and destruction of processed checks. While every client should develop a process and standard that makes sense for their business, Key recommends the following:
- A 30 to 60 day retention period is adequate (99% of returned items occur within 30 days, in Key’s experience).
- While Key Capture assists in identifying items which have not been scanned correctly (poor image quality), there is always a small chance that an item may be returned to Key by another financial institution.
- You should weigh the risks and costs associated with secure check retention against the risk and cost related to items returned for poor image quality.