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#2060839 - 01/27/16 08:30 PM item deposited twice - remote and in person
HappyGilmore Offline
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Pulling people out of the ditc...
Item deposited twice, once by mobile banking app and a few days later physical check, of course at 2 different banks. i'm looking for an answer in UCC as to whom the liability falls on, no such luck. Anyone can point me there? thanks
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#2060844 - 01/27/16 08:38 PM Re: item deposited twice - remote and in person HappyGilmore
Cornfed Turtle Offline
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This isn't a real answer, Happy, but I remember some good reading on this from John when we first went "mobile." Try searching on mRDC. Double depositing is my biggest fear with this product.

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#2060851 - 01/27/16 08:43 PM Re: item deposited twice - remote and in person HappyGilmore
rlcarey Online
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#2060886 - 01/27/16 10:03 PM Re: item deposited twice - remote and in person HappyGilmore
John Burnett Offline
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We have no idea how the Fed will finalize its Reg CC proposals, but the second one had an interesting twist that proposed that a bank accepting a RDC or mRDC item for deposit would indemnify a bank that accepted the same item for physical (paper) deposit if the paper-item-deposit bank suffers a loss because the deposited item is returned as a duplicate presentment and the bank that accepted the RDC or mRDC version is does not receive a return of the item.

This still allows the last bank to present the item to absorb the charge-back, but recover from the image-accepting bank. The thinking behind this proposal is that banks that allow RDC or mRDC items to be deposited without taking the original check "off the streets" facilitate the potential for multiple deposits of the same item, thus creating risk for banks that accept the same item later.

I like the concept, although I have no idea how well or badly it would work in practice. And, of course, we still don't know if the change will ever become final.
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#2060889 - 01/27/16 10:25 PM Re: item deposited twice - remote and in person HappyGilmore
rlcarey Online
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Well, if they just made it a requirement that the physical check be "franked" at the time of RDC capture, it might eliminate some problems.

For those of you younger than about 50, you might have to look that term up.
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#2060894 - 01/27/16 10:38 PM Re: item deposited twice - remote and in person rlcarey
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Ok, now I'm depressed. I know what "franked" means.
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#2060953 - 01/28/16 04:10 PM Re: item deposited twice - remote and in person Cape Codder
John Burnett Offline
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Originally Posted By Cape Codder
Ok, now I'm depressed. I know what "franked" means.

Ball Park, Nathan's, or Hebrew National?
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#2060958 - 01/28/16 04:12 PM Re: item deposited twice - remote and in person HappyGilmore
John Burnett Offline
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Biggest risk is the growing mRDC market. There's just about "zero" use of franking or anything like it to minimize the double-dip risk.
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#2061094 - 01/28/16 09:24 PM Re: item deposited twice - remote and in person HappyGilmore
madukes Offline
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Flyers Country
If the adjustment is going through the fed, the fed permits you to select which item you are requesting the adjustment for. For instance, we always try to go after the remote deposit so that the bank is aware their customer is abusing the service. Of course if there is a long time period between the two deposits we go after the more recent one. If we have a customer that deposits checks twice we shut off their mobile deposit capability.

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