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#1740763 - 09/13/12 09:01 PM Remote Deposit- Check Endorsement
Bank Compliance Offline
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Joined: Apr 2009
Posts: 22
We have a business customer that does not want to have to endorse their checks (large volumes) they run through remote deposit. As a bank we can accept this risk and not require it... Correct?! Does anyone else not require endorsement on Remote Deposit Customers?!

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Deposits and Payments
#1740775 - 09/13/12 09:19 PM Re: Remote Deposit- Check Endorsement Bank Compliance
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,229
Galveston, TX
Many remote deposit machines automatically supply the endorsement. Why would you allow something through RDC that you would not allow over the counter? Might as well not get any endorsements.
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#1740787 - 09/13/12 09:28 PM Re: Remote Deposit- Check Endorsement rlcarey
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Joined: Apr 2009
Posts: 22
It sounds like it is something to do with the scanner that the customer has- currently it does not have an endorsement capabilities.

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#1741031 - 09/14/12 05:17 PM Re: Remote Deposit- Check Endorsement Bank Compliance
tdogz Offline
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tdogz
Joined: May 2012
Posts: 229
Our scanners apply an endorsement that we choose on our RDC deposits. You just have to make sure your system supports it & that the customer's scanner has the capability (there are models that don't have the capability).

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#1741037 - 09/14/12 05:26 PM Re: Remote Deposit- Check Endorsement Bank Compliance
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Your bank guarantees any missing endorsements...if this customer puts through a check payable to rlcarey, you guarantee that rlcarey either got the money or it went into an account in his name. That's a pretty big promise to make...
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#1741094 - 09/14/12 06:31 PM Re: Remote Deposit- Check Endorsement Bank Compliance
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
... when you only have an opportunity to check things out after the deposit is scanned and completed. I'd be wary of giving approval unless you are really confident in the RDC customer.
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#1741868 - 09/18/12 07:03 PM Re: Remote Deposit- Check Endorsement Bank Compliance
Sallaia Offline
Junior Member
Sallaia
Joined: Jul 2011
Posts: 42
Tennessee
Until our scanners got the ability to apply a virtual endorsement after scanning, we mandated that checks be endorsed, same as if they were bringing them into the branch.

You may want to verify with your RDC provider to see if they offer virtual endorsements because that ability snuck up on us a few years ago and we almost missed it.
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Any opinions expressed are my own and do not necessarily reflect those of my employer.

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