Hello,

We are looking for a couple of efficiencies, and I'm wondering if we HAVE to send a mailed receipt for mailed deposits? Also, our core processor has the option to send emailed reciepts, my gut instinct says that we should have an E-sign consent on file before doing so for mailed deposits.

Thoughts?

Thank you,
Angelina

If you do - it would be buried in State law and since it is not a required written disclosure - E-Sign does not come into play.

federal

Thanks Richard

Unless there is a state requirement, deposit receipts are a tradition that most bank customers have come to expect, but they fall into the category of a "business courtesy." That courtesy is less and less needed in today's connected world, where the majority of bank customers have online account information access that can tell them when a deposit has been credited.

Nonetheless, most banks still provide receipts for deposits accepted over the counter and (per law and regulation) at ATMs, and my guess is that most still provide receipts for mail and night drop deposits, although my reading suggests that more and more banks have weaned their mail and night chute customers off of receipts.

we provide, as we also use this to send back a prepaid envelope for their next deposit...goofy, but we get over 1,000 per month. I keep pointing out we should be migrating these customers to mobile check deposit. have one customer that sends in a deposit every day, in cash, essentially whatever money/change he has in his pockets at the end of the day - he has made deposits as low as $.05. yes, elderly customer who grew up poor...

Thanks everyone! Off to dig into the MA UCC to see if I can find any requirements there (but I'm not expecting to!).

Haven't worked for a bank that mailed night deposit or in-mail receipts in almost two decades. Could be a geographic expectation? We had some clients who asked us to print and hold night deposit receipts, which they picked up about once a week.

I'd be VERY surprised if you find anything relating to receipts in Article 3 or 4 of our UCC, Angelina, or the UCC in New Hampshire.