RapiDeposit REMOTE DEPOSIT CAPTURE SAVINGS CALCULATOR
Description	Traditional	Paper-Based		Check 21	RDC
	Volume / Cost	Annual Cost		Volume / Cost	Annual Cost		Annual
							Savings
ASSUMPTIONS
Number of Depositing Locations	1			1
Checks processed per month	1000			1000
Checks processed on daily basis	45			45
Average Dollar Volume of Check process	$107			$107
Number of Items eligible for ARC Conversion	0%			35%
Required Number of Scanners				1
Scanner Cost - Including CAR/LAR Software				$1,500
Read Rate - OCR				80%
Lease Rate / Depreciation of Scanner				36
Analysis and Cost Factors
Transportation Costs
Deposit delivery cost	$35			$0.00
Number of Deposits per month	22			22
Annual Transportation Cost - Per Location		$9,240.00			0.00		$9,240.00
Cost of Labor in Preparation of Deposit
Labor Cost - Per Keystroke	$0.015			$0.015
Checks Per Day	45			45
Keystroke per check	7			7
Balancing of Check - Daily Average	2.2			1
Keystrokes per day on daily basis	693			315
Keystrokes other documents - Invoice / Account Data	1541			308
Grand Total of Daily Key Strokes	2234			623
Monthly Key Strokes	49148			13706
Monthly Labor Cost	$737.22			$205.59
Total Annual Labor Cost		$8,846.64			$2,175.00		$6,671.74
Operational Cost
Number of Bank Accounts	1			1
Bank Account Fee - Monthly	$10.00			$25.00
Deposit Fee per Deposit Slip - Per Day	$0.32			$0.00
Total Monthly Deposit Slip Fee	$7.04			$0.00
Deposit Fee per Check Deposited Per Day	$0.12			$0.00
Total Monthly Check Deposit Fee	$120.00			$0.00
Average RapiDeposit Processing Fee + CAR/LAR	$0.00			$0.33
Total Monthly RapiDeposit Processing Fee- Average	$0.00			$330.00
Average Number of Return Items	20			20
Cost of Returns-Statewide Average	$8.00			$3.00
Total Cost of Return Items	$160.00			$60.00
Total Time Bank Reconciliation Time	8			3
Employee Hourly Rate	$25.00			$25.00
Total Reconciliation Time	$200.00			$75.00
Total Monthly Operational Cost	$497.04			$490.00
Total Annual Operation Cost		$5,964.48			$5,880.00		$84.48
Funds Accelerated for Use
Desktop float - in days per item	1.50			0
Availability of funds	1.50			1.30
Check 21 Item Availability, days	1.00			1.00
Total Float	3.00			1.20
Float rate, WACC=12%	12.00%			12.00%
Daily Float Cost	$7.28			$2.89
Monthly Float Cost	$218.40			$86.70
Total Annual Float Cost		$2,620.80			$1,040.40		$1,580.40
RapiDeposit Cost - New Monthly Costs
Monthly Cost of Scanner, purchase or lease				$55.00
Scanner Supplies and Replace Cost				$15.00
Monthly Miscellaneous Fees				$45.00
Total Monthly Cost				$115.00
Total Annual Cost					$1,380.00		($1,380.00)
Total Annual Savings for One Scanner		$26,671.92			10,475.40		$16,196.62
Cost of processing, per check		$3.61			$1.43		$2.18
Percentage Savings		100.00%			39.61%		60.39%