Remote Deposit Capture RSS Feed
Remote Deposit Capture Newsletter
Remote Deposit Capture Group on LinkedIn
Remote Deposit Capture Group onTwitter
The Green Sheet

Email Page 
Print Page 
 Add to LinkedIn Add to Twitter Add to Facebook Add to Reddit Add to StumbleUpon 
Add to Tumblr
Search discussion boards: 

Remote Deposit Capture Discussion Boards

The Remote Deposit Capture Discussion Boards are open to the entire industry. Post comments, share news, ask questions and more with professionals from throughout the industry.
Go back to Discussion Boards
Remote Deposit Capture Discussions Discuss the ins-&-outs of Remote Deposit Capture here. No vendor solicitations here please.
Discussion Boards > Remote Deposit Capture Discussions > Bank vs. Credit Union: Which is more likely to have losses due to Duplicates? View modes: 
User avatar
Site admin
Site admin
John - 10/4/2019 2:46:28 PM
   
Bank vs. Credit Union: Which is more likely to have losses due to Duplicates?
Which type of FI do you think is more likely to incurr losses due to Duplicates deposited via RDC / Mobile Deposit, Banks or Credit Unions? -And Why?

We're doing some research into this issue and will have an article next week. In the meantime, what's your take?

User avatar
Member
Member
GregM - 10/7/2019 9:04:54 AM
   
RE:Bank vs. Credit Union: Which is more likely to have losses due to Duplicates?
Just a guess, but I'd say banks because I believe banks would have a higher volume of checks being deposited via RDC, so, the opportunity for error would be higher

User avatar
Site admin
Site admin
John - 10/7/2019 9:34:22 AM
   
RE:Bank vs. Credit Union: Which is more likely to have losses due to Duplicates?
Hi Greg- Let me clarify... Which type of FI would have a higher RATE of losses.... for example, x% of Banks had losses in the past year vs. y% of Credit Unions.

User avatar
Member
Member
wilfredo.jaurgeui - 10/7/2019 1:46:44 PM
   
RE:Bank vs. Credit Union: Which is more likely to have losses due to Duplicates?
Credit Unions would incur more losses due to Duplicates. The internal process of many CU's are community based and have limited expirience in commercial check processing, many also use smaller core service providers or do not use the services of a third party familiar with checks due to cost structure of a CU.

The CU industry is consolidating so this may be a temporary issue, yet one that having sent X9.37 files to one and the dealy in recieving returns is how I am basing my comments.
 

Recent Forum Posts

RE:New R/T needs to be added to validation tables

I do not believe this is Bancorp's issue to resolve since it's been pointed out that this routing is already showing in the fed table. But unfortunately, many sending banks only update their fed file once a year, if that. Even established banks! I would recommend you call Santander (or w...
Posted on 9/3/2020 8:56:02 PM


RE:RDC Indemnity

tgavin, we are tracking an increase in attempted fraud for the FinTech channels.  The attempted duplicates, bad checks, tends to run .33% for traditional banks and 2.67% fo FinTech... definitely important to guard tighter when running FInTech portfolios.    
Posted on 8/28/2020 9:17:59 AM


RE:ACH Addenda Info

I assume that they are looking for EDI translation of CTX files. This is when one remittance covers 100’s of items. The info is usually only in machine-readable form. We have a product via ACH Alert but it is expensive. The Fed may be the best source for them. I would suggest they touch bas...
Posted on 8/25/2020 4:26:10 PM