How are banks handling approvals of Remote Capture Customers?
Are you putting them through a credit review and requiring financials and who is making the final approvals?
We are just getting the process started and I am struggling with how this end of it should work!!

We initially started with a VERY extensive review and approval process as the Bank first rolled out Merchant Remote Capture. At the time we required tax returns, financial statements and 6 months worth of bank deposit account statements.

After offering the product for about 1 year, we have eliminated the tax returns & financial statements. We have added a list of high risk businesses, which we will not offer the product.

Our experience along with that of the Banking industry has actually been that there has been less fraud historically with merchant remote capture deposits, than over the counter. Granted Merchant Remote Capture is a relatively new product at most banks.

It is important to have an internal review process of incoming deposits.