Is a bank required to mail a receipt for a night drop or mail deposit?

Yes Sinklebarger Yes

Rose,
Would you mind saying why you think that's the case? I'm not aware of any federal requirement and there is nothing along these lines in the model version of the UCC.

Its good customer service for one thing Ken. I try to treat customers the way I would like to be treated. A receipt for a transaction whether done in person, night drop or mail is good customer service and beneficial to us both.

Rose,
I agree, it's good manners...

I don't disagree, but you also need to do a cost benefit analysis. At $.37 a pop, that's an expensive way to gather deposits. We had some customers that would nightdrop $10-15 dollars a night.

Our night drop envelopes have a box to mark if you'd like to receive a reciept. If it is checked we mail one, if it's not checked we don't. We also hold deposit receipts for customers that frequently make night drops and mail them weekly (when agreed to by the customer).

I think that the initial question was is it required? The simple answer I think is, NO. It is not required by a law or regulation that a receipt has to be sent. Rose's answer was strictly from a customer service standpoint and I think that the initial question was looking from a rules standpoint. Rose's answer is not wrong, it is just what that institution has chose to do. Another comment was made regarding giving the customer the choice, I think that this is definitely a bank by bank case of do we or don't we WANT to. If it helps we have return slips with the customers mailing address typed on it, if the customer includes it in the night or mail deposit, we will send a receipt.

My Credit Union (not my employer) no longer mails receipts for deposits. It states that you should check on line to see if your deposit has been credited. After I got over the initial shock, I realized that I check on-line anyway, so it really was a cost saving to them.

I would say it is a control weakness to NOT mail a receipt for any night drop that includes cash.