Thread Options
#1517417 - 03/03/11 09:42 PM RDC for consumers-still a gigantic contract??
Trees Offline
Power Poster
Joined: Apr 2005
Posts: 4,013
We offer RDC to select group of commmercial customers. They all signed a multi-page contract that covers all issues. We want to branch out and allow consumers/small business owneers the option of using a device 9scanner, even mobile phone) to scan in checks for deposit. is anyone out there offering this? Did you have your consumers sign a huge contract? I can see them all running for the hills....

Return to Top
eBanking / Technology
#1517440 - 03/03/11 10:10 PM Re: RDC for consumers-still a gigantic contract?? Trees
AFaquir Offline
Platinum Poster
Joined: Jan 2011
Posts: 763
Top of the world... and never ...
We don't offer a consumer friendly service, but I can't imagine it gets smaller for consumers...

Consider this for rationale, the reason the business one is so large is because the sheer numbers of risk types and complexity of risk associated with business accounts... however if you're like most banks you have fewer business accounts to worry about so its marginally easier to cover all your bases in the agreement.

On the other hand consumers face many of the same risks, although likely with reduced complexity, but now you have MORE accounts to worry about, so building an agreement that covers all your bases to protect the bank (which based on Reg E isn't much), will bulk up the contract.

I wouldn't anticipate customers running for the hills though, I just wouldn't read it... I'd just sign it and assume it was not that much different from anything else I've ever signed without reading in my life (Credit Card Agreements for example, see also any software EULA I have ever been asked to agree to before continuing) and move on from there.

In life, there is a lot less that could get better and a lot more that could get worse.


My views only!

Return to Top
#1518091 - 03/07/11 01:01 AM Re: RDC for consumers-still a gigantic contract?? AFaquir
Andy_Z Offline
10K Club
Joined: Oct 2000
Posts: 27,328
On the Net
Search on the sites of banks offering this service, Chase and USAA come to mind.
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

Return to Top

Moderator:  Andy_Z