FRedTM is First Resource Easy DepositTM -- a remote deposit service for businesses that enables you to scan check deposits from your office, at any time of day, and electronically transmit them to the bank for deposit to your account. No driving to the bank or waiting on line -- FRedTM does the work and lets you get back to business!
Using your computer and a scanner provided by First Resource, you would log into a First Resource web-site, scan checks for deposit, confirm the check total, and let FRedTM do the rest! Checks scanned and accepted before
7pm are deposited that same business day into your account. FRedTM also provides great reporting functions: if you choose to capture your customers' data along with their checks, FRedTM can archive that information for you to research later by customer name, invoice number, or any customized data you desire.
Neither. FRedTM is web-based - the only special software is a free download of the drivers needed to operate the check scanner. And
First Resource lends you the scanner at no additional fee, for your use so long as you actively use the service for your account(s) at First Resource.
Click here for System Requirements.
FRedTM is very easy to use, and First Resource will walk you through the installation and training, in person, at your location. Should you need it, help is available through our Customer Support until 9pm weekdays. We're confident you'll find FRedTM to be simple, reliable and quick!
After you've scanned your checks, simply store them in a secure location for a brief period of time, while the check images clear the banking system, and then shred them. No need to photocopy the checks to keep a record - you can retrieve and print an image of any check online for up to a year after you've scanned it. This is a much more secure way of storing your customers' sensitive banking data, and saves the time and paper involved in photocopying!
If your business periodically needs to make cash deposits, we can arrange for a courier to pick up these deposits.
The monthly cost for using FRedTM will vary, based on the number of items scanned, number of accounts linked to the service, type of processing selected (individual vs. batch scanning), and whether you'd prefer to offset some or all of the cost by maintaining balances in your account. We'd be happy to learn more about how you would use FRedTM and develop an estimate of the costs that may apply. Please call us at 610.363.9400, or email FRed@firstresourcebank.com **, and ask for information about FRedTM to obtain a quote. We're confident that you'll find FRedTM is a bargain, when compared with your savings in time, gas, convenience and efficiency.
Email FRed@firstresourcebank.com **, or call 610.363.9400 and tell
us that you'd like to get FRedTM to work for you. You can get started by downloading and completing the FRedTM application, and faxing the application to 610.561.6039, attn: FRed. We will work with you to understand your business needs, process your application, and get FRedTM to help you work smarter, not harder.*
Deposits scanned and accepted by
7pm on a banking business day are deposited to your account the same business day, and available according to our applicable funds availability schedule. Deposits accepted after
7pm are deposited the next banking business day. No more interruptions in your day to run to the bank before it closes; and no more deposits piling up in your desk or in your car, waiting to have time to make the trip to the bank. FRedTM handles your deposits on your schedule.
*Eligibility for FRed™ is subject to the Bank's terms and conditions.
**E-mail is not a secure communication tool. Do not e-mail sensitive information such as account numbers or social security numbers to FRed@firstresourcebank.com.
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