We are in the process of introducing Remote Deposit Capture servies to our business customers. Looking for ideas on establishing policies, procedures, and processes for mitigating potential risks. Can anyone help?

Dutch,

Remote Deposit Capture is a young service for my institution as well. We have set a profile requirement for our existing customer base, where we will review the last quarter of activity, statements and payments to ensure the customer is an appropriate match for the service.

When we open this service to new customers we will require 6 months of bank statements, financials and business documents.

We’ve found this information has been key in compiling the deposit velocity settings as well as getting a good overview for the customer in general. I hope you’ve found this information helpful.

We are going through this as well. We have an established policy to approve the business' to have the product. We also have the agreement cover their liability and responsibility for security, fraud, privacy, secure protection of the checks along with secure destruction. We will also set limits to the daily amounts that can be processed specific to each customer approved based on their deposits and loans. Our agreement states that should we find information that their business has gone into bankrupcy or other issues that would cause us risk we can terminate the relationship.

I am now looking for appropriate verbiage to add to the document that would appease the NACHA operating rules as it relates to check conversion to ACH.