2/14/2008 3:04:14 AM
Re: Utilizing Remote capture to deposit to Personal Accounts
If the same RDC Platform is being ued for both business and personal deposit processing, ensuring the deposits go into the correct accounts can be very important. One way to do this is to setup security monitoring thresholds for both the RDC Platform as well as a the DDA-level. For example, if the Business account normally has no more than $40,000 deposited in a single day, and the personal account normally has no more than $10,000 deposited in a single day, flagging the personal account for review when a deposit in excess of $10,001 might work well. Most RDC systems can flag aggregate deposit amounts or even individual $$ amounts for review... either by the user or by the manager, or even by the bank providing the service.
As for regulations, I am not aware of any that would prevent this from happening, but we will look into it. A legal agreement would certainly have to be in place for each account in question.
Also, ensuring the truncated checks are safely disposed of is important. -and having this in the legal agreement helps protect te bank in the event of losses the the client as a result of the checks being stolen, etc.
One final item... I believe that the FCC has only approved the majority of the sanners on the market for use at a business location. I believe, if a scanner is to be used in a home, it might be pudent to determine if the FCC has approved the device for such use. Thanks to a quick call placed to the folks at Digital Check, they were able to confirm that if the scanner is to be used in a residential location, it needs to be "FCC Class B Certified". I honestly do not know wat the risks are if the scanner is not certified as such, but at least thi information is now known.
I hope this helps-