11/08/2010
If I have a stop payment for a paper item, and the paper item is presented and stopped, does the stop remain in effect for the remainder of its six month period, or having stopped the item of its intent, is the stop is now void or completed, and can it be removed from the system?
08/09/2010
Is there a set policy for the timeframe for accepting checks on the teller line, storing them and finally shredding them? I think we are only required to keep these items for ninety days. We have an imaging system that scans and stores each item daily, but we need advice regarding the timeframe for destruction.
02/22/2010
We have a request to open an account for a processing business that will image checks for a MSB. Do we need to worry about getting documentation from the MSBs involved? What is our responsibility as far as BSA is concerned?
06/09/2008
We have just opened a new branch that has an ATM with check imaging capabilities for deposits. They are talking about the branch balancing (taking out the deposits and posting them to our GL) once a week. All our other ATMs get balanced every day. Is there any regulation that requires ATMs that accept deposits be balanced daily? I am concerned about this weekly balancing, if a customer enters the wrong amount on a deposit or if there is a presenter error, and the customer does not notify the branch. Aren't there time limits on correcting these things?
03/05/2007
We are not currently participating in Check 21 and converting documents. We have had customers claim that a check is a forgery. The check cleared as an IRD and all we have is the replacement document sent to us from the depository bank. When the customer files a police report the police are asking for the original check back so they can test for fingerprints. When we contact the depository bank we are told that the original check has been destroyed. I understand that they have to truncate the check for 14 days then it can be destroyed. After 14 days, what suggestions do you have when the police want the original check to prove forgery and press charges and have you had this come up on previous questions?
09/04/2006
We are going to start check imaging rather than sending checks to our customers. What is the best way for us to inform our customer about imaging? We have an older customer base and want to make it as easy as possible for them to make the transition. Would a letter from the bank President be sufficient, or are there any statement stuffers available that explain imaging?
05/08/2006
We have a customer demanding original checks be returned to him. We do not keep original items beyond a week or two but do have images available. Where can I find the legal information as far as check retention to show him that "by law" we do not have to keep the originals for one year?
12/05/2005
If an official check shows "VOID VOID VOID" on the check when copied, will it show on the image?
07/01/2005
Editor's Note: Normally the training page is meant to use in procedures, training, operations, or education.
05/23/2005
Our bank is getting ready to start imaging loan documents. Where can I get some information about what documents we should keep originals of and not rely on images?