We have been discussing electronic retention of ACH Agreements rather than paper, and whether we can shred the originals once they've been scanned in and we've proven they are legible, retrievable, etc. A question came up about a "wet signature" requirement for ACH Agreements, and that we are putting the bank at risk by destroying the original documents with the original signatures. I'm having a hard time finding any references to this particular question, so any input would be most appreciated!

We do not retain originals. I have always been under the impression that the need for a wet signature will depend on the judge. I think it's pretty old school though. We've traditionally retained key commercial loan documentation (note, collateral agreements) with wet signature, but nothing cash management related.

Thanks for the input - hopefully we can make it work