Mailed Receipts for Night Deposits

by Mary Beth Guard
Guru BIOS


Question: Are we required to mail a receipt to a customer that uses our night depository, or when we receive a deposit by mail?

Answer: Take a look at what your deposit account agreement says. While it is good practice to provide a receipt for any deposit, I do not believe it is actually required by any particular regulation or law. It?s a matter of contract and prudent business.

First published on BankersOnline.com on 9/27/04