We are in the process of adding deposit functionality to our ATM fleet for on us at us customers. Our EFT provider is asking for a daily max deposit limit at the card level including both cash and checks. Would anyone be willing to share your limits?

Thank you.

What is your threshold for pain when someone stuffs an empty envelope into the slot?? Your threshold for pain might be a little different than the next bank down the road depending on your ATM and deposit processing systems.

A factor to consider is whether you will be taking deposits in envelopes (which have empty envelope risk) or not, and if not, will you have image-capture that is capable of being integrated into your bank's image cash letter. The latter could give you some extra check collection time to partially mitigate whatever added risk is taken on in ATM check deposits.

I guess I should have included that this is image deposit with no envelopes.

One thing I want to point out is that imaging doesn't prevent all forms of ATM deposit shenanigans in and of itself. If your ATM and Core Processing solutions are working together well, proper deposit holds should be placed real time if it is not cash that was deposited. We have found the bad apples have moved from empty envelopes to depositing NSF checks drawn on their own account. The machine accepts it because it is a check and increases the balance. Without a proper hold placed at the time of deposit, they may be able to draw on this artificial balance increase. While we've seen this attempted at our ATMs, it's never been successful because we're placing holds and reviewing the deposited checks. But the fact that people are even attempting this kind of scheme tell me that somewhere, there is some institution that is not placing the right holds and is not looking at the deposited checks to notice, "Hey, this is an on-us and there's no funds in the account!"

In my opinion, people would not know about or attempt this kind of activity unless it is working to the fraudster's advantage SOMETIMES.

Just a thing to consider--there are many types of deposit fraud so it is not a risk-free operation, regardless of the presence of imaging. And who knows what the bad apples out there will think of next? It all comes back to how much loss you can stomach if something does go wrong.

I would double check what they are really asking you. You should be able to set different limits on daily max deposit amount (why set a limit?) verses the amount you are going to give people access to at the time of deposit....set fairly low to avoid losses from fraud.

You might be thinking apples but they are talking about grapes :-)