Our institution has been using (improperly) "outside normal deposit history" as a reasonable cause to doubt collectibility. We are in the process of removing that as an option for frontline staff to use going forward.
However, with an increase in mobile deposits, Deposit Ops is now asking what valid hold reason (if any) they can use in situations where 1) the client is depositing via mobile deposit for the first time and 2) is depositing a check (ex. $2500) that is much larger than typical deposits to the account or in relation to the account balance. (Our mobile deposit T&Cs state we follow our standard funds availability policy, as detailed in our deposit agreement.) IS there a valid reason to place a hold on mobile deposits such as the situation above? Or, is it a risk we must accept?
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Deep breath in...cleansing breath out...