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Minimize Exposure for Remotely Created Checks (Pre-Authorized Drafts)

Question: 
What can I do to minimize exposure on remotely created checks? (Pre-Authorized Drafts)
Answer: 

New developments in Image analysis enable financial institutions to identify Remotely Created Checks (RCC) in either deposited items at the Bank of First Deposit (BOFD) or at the paying bank during inclearing processing. The majority of the risk on these items is now placed on the BOFD and the ability to detect these items during same day processing can be an effective component to risk mitigation.

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First published on 05/17/2010

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