WILDWOOD — Paying the city will be a bit more timely now that the Wildwood Board of Commissioners approved the use of Remote Deposit Capture (RDC) for its tax, water and sewer payments.
At its meeting on July 27, Jodie DiEduardo, Executive Vice President at Crest Savings Bank, explained the process to the commissioners. She explained that under the current system, there is an approximate three-day turnaround time from when the check processed and when the funds are available. Using RDC will condense that period into one day.
“The check is put into a machine,” said Commissioner Pete Byron, “and it is credited immediately. What that will do is to allow us to start collecting interest immediately. This will make our collections more efficient.”
“There will be no more need to stamp the backs of checks or run tapes,” said DiEduardo, noting that the new system will increase efficiency. “When you’re depositing that many checks it’s a time savings,” she added. Customers will also see an increase in efficiency. “Currently, if a customer asks if a check has cleared, you have to wait until you get your statement.” With RDC, DiEduardo added, “You’d have access to 30 days’ deposits immediately. For the customer, within 30 days, the city can provide a copy of the check.”
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