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Poll Central: Check Retention Guidance Generally Shorter for Mobile than Desktop RDC

Thursday, October 27, 2016 (RemoteDepositCapture.com / Patti Murphy)

Banks and credit unions that offer RDC tend to take a twofold approach to advising customers on when to destroy original paper checks, with many preferring shorter check retention periods for consumer mobile deposits than they do for the paper associated with traditional (desktop) RDC.

A poll of visitors this month to RemoteDepositCapture.com suggests only 12% of financial institutions recommend consumers making mobile deposits retain original checks for more than 45-days. Nearly half (48%) recommend mRDC customers destroy original items within 15 days of deposit; 13% recommend original checks be destroyed immediately following mobile deposit.

Compare this to the results of a poll conducted between August 2015 and August 2016, when RemoteDepositCapture.com asked about recommended check destruction timeframes across all RDC offerings. Among the 440 FIs participating in that poll, 34% recommend check destruction after 45 days. Only half as many (17%) said they recommend original checks be retained for 10 days or less following deposit.

RemoteDepositCapture.com regularly polls visitors on issues related to RDC. During the month of October visitors were asked: When do you advise your mobile deposit (consumer) customers to destroy the original checks? Responses came in from executives at 86 financial institutions. As the accompanying chart illustrates, the vast majority (82%) recommend that original paper checks be destroyed no later than 45 days after deposit.

Not all FIs are confident their customers are taking their advice on check destruction timeframes, however. “We don’t have any. They wouldn’t listen anyway,” one visitor quipped.

During the month of November, RemoteDepositCapture.com visitors are being asked: What are the most important capabilities of an Integrated Receivables Solution?  Click here to visit and participate in Poll Central at RemoteDepositCapture.com.


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