WHAT IS ICL?
ICL stands for Image Cash Letter. It is a modern processing method that allows businesses to deposit electronic debits into their bank accounts within minutes by converting physical images or account data into electronic code. Instead of printing and physically delivering eChecks to the bank, ICL technology captures the data and formats it into a machine-readable code. This code is then transmitted directly to the bank, which reads and processes the information for deposit, and forwards it to the Federal Reserve for settlement.
WHAT IS THE ADVANTAGE?
The key advantage of ICL over traditional ACH or eDebit processing lies in speed and flexibility. While ACH deposits typically take 4–5 business days to clear, ICL offers same-day funding, meaning items run on a Monday can be deposited and available the same day.
ICL is particularly attractive for merchants handling high volumes, as it eliminates reserves and limits commonly imposed by ACH processors. With ICL, businesses can process as many items as needed, up to a per-item cap of $25,000, and run volumes ranging from $100 a day to $100 million, all without tying up cash in reserve accounts.
TURBOCHARGED CASHFLOW
No more waiting 3-4 days. Get your money the Same Day!
One of the most powerful advantages we offer is Same-Day Deposit—ensuring that your funds are delivered to your bank account on the very same day you process transactions. While other providers may delay disbursements with outdated systems or inconsistent timelines, our electronic processing infrastructure is built for speed, precision, and reliability.