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#2203783 - 01/23/19 10:40 PM Storing scanned checks on site
Anonymous
Unregistered

Hello,

Our Bank keeps physical copies of checks/tickets that have been scanned on site for a period of time after they have been scanned.

I have a couple of questions:

For what period of time do most banks hold physical copies of scanned items?

Is there a requirement (or best practice) to keep them in a fire-proof cabinet/safe?

Please help if you can. Thank you!!

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#2203803 - 01/24/19 01:22 PM Re: Storing scanned checks on site Anonymous
osucpa Offline
Diamond Poster
Joined: May 2011
Posts: 1,402
To me this is a record retention issue. I would check with your state guidance.

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#2203806 - 01/24/19 01:39 PM Re: Storing scanned checks on site Anonymous
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,425
Florida
See above.

............and your insurance carrier.
_________________________
Integrity. With it, nothing else matters. Without it, nothing else matters.

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#2203810 - 01/24/19 01:53 PM Re: Storing scanned checks on site Anonymous
HappyGilmore Offline
10K Club
Joined: Jun 2004
Posts: 19,535
Pulling people out of the ditc...
once we have confirmed the scanned data is legible, we hold for 31 days then shred
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Providing alternative truths since the invention of time

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#2203821 - 01/24/19 02:40 PM Re: Storing scanned checks on site Anonymous
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,697
Cape Cod
The question of security is, of course, important. You don't want checks you have scanned to be used a second time and creating a duplicated presentment against your or any other bank's accounts. Accordingly, actual retention of the physical checks should be for the shortest reasonable period to allow for replacement of faulty images, etc.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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