Can someone who has already rolled out this product give me some insight? This will be an extension of internet banking (you can only sign up through your internet log in) We have done our risk assessment and set our policy limits. What am I missing? Thank you.

Unless included in the risk assessment, the only thing I would see missing is policy, who will be monitoring the deposits, and for what amounts, timeframes, etc?

We rolled this program out in July of this year and it has been "smooth" to my understanding. Deposits are reviewed based on their "score" that generates from the image of the deposit, amount, and length of relationship (we also use the existing online banking customer only mentality).

Other than that the only thing you'd be missing would be the testing phase where you try to beat your own system. We always try to find loopholes in the system when testing because we'd rather have it be with fictitious scenarios rather than real life!

Thank you so much PrimeTime. Great info.

Is the mobile deposit available immediately for withdrawal or is it available after end of day has run (the next day) or when?

Mobile deposits are available when your mobile banking agreement says they are.

Yes, I realize that! I was curious about when other banks were making their mobile deposits available for withdrawal.

If you google "mobile banking agreement" you will get pages and pages of them that you can check out.