Good Morning! I am looking to see how other FIs handle putting holds on mobile deposits. Not what we can do, but how you are physically putting the hold on the check. I know Mobile Deposit does not fall under Reg CC and we basically have to follow what is stated in our agreement. That is fine. Our issue is this:
A customer makes a mobile deposit prior to our cut-off time of 4:00 pm. We accept the deposit but want to put a hold on the funds. We notify our customer of this. The way our mobile deposit works though, is once the deposit has been accepted, then the funds are not deposited into the customers account until the batch is ran at 9:00 pm in the evening. Which means, we can't physically put a hold on the funds until the following business day. This leave the funds available to the customer until this time. Does anyone else have this issue? If so, how do you handle these situations? Our system does not allow us to effective date a hold and obviously nobody is in the bank at 9:00 pm to physically put a hold on the check once the batch has ran.
Other than denying the check and asking the customer to bring it to a branch for review, any other thoughts?