RDC
Business & Finance abbreviation · Banking
| Stands for | Remote deposit capture |
|---|---|
| Categories | Business & Finance |
RDC stands for Remote deposit capture, a banking abbreviation.
Service that lets customers deposit checks by scanning or photographing them, typically with a smartphone app or desktop scanner, instead of visiting a branch or ATM. The bank processes the electronic image under check-image rules.
Example: Businesses use RDC scanners to deposit dozens of customer checks every afternoon.
Usage notes
Remote deposit became possible after the Check 21 Act of 2003 gave substitute check images the same legal standing as paper. Banks set daily RDC limits and may hold funds for several days. Customers are usually asked to endorse the back "for mobile deposit only" and keep the paper check for a period.
Related abbreviations
More banking abbreviations
- ODP – Overdraft protection
- PAN – Primary account number
- PEP – Politically exposed person
- PIN – Personal identification number
- PSD2 – Second Payment Services Directive
- RD – Recurring deposit
- RTGS – Real-time gross settlement
- RTN – Routing transit number
- RTP – Real-Time Payments
- RWA – Risk-weighted assets
- S&L – Savings and loan association
- SAR – Suspicious activity report