Remote Deposit Implementation Procedures November 2007 Remote Deposit
Remote Deposit Implementation Procedures November 2007
Remote Deposit Credit Check • Existing Customers üNo additional credit check required • New Customers/Prospects ü 3 -month Bank Statements üFICO of the principal üJay or Brian approval • All Customers üEstablish daily deposit exposure limit üAnnually review financial condition and exposure limit üHave Customer complete Merchant Services Agreement for approval to run credit check
Remote Deposit Implementation Procedures üRDC Agreement must be signed by the customer and approved by the Bank prior to installation üKey Points üBank supplies and maintains the scanner and the Bank owns the scanner. üCustomer must have PC equipment w/broadband Internet connection and supply network support
Remote Deposit Implementation Procedures üChecks must be retained for 45 days then may be destroyed. üBank maintains images for 7 years. üExhibit A – Fee Schedule üMonthly Fees: $50 service fee & $50 equipment lease. (DDA analysis acct req. )
Remote Deposit Implementation Procedures • Complete Customer Information Form üSites üAccount Numbers üUser names ØWhich users can access which accounts at which sites • Original Agreements & Cust Info Forms maintained in Branch. Scanned copies must be emailed to Dep Ops for retention.
Remote Deposit Implementation Procedures (cont’d. ) • Dep Ops / TIorio will maintain supply of scanners. • Contact Tiffany O’Sullivan/Edwin Martinez and arrange for installation of hardware & software and training.
Remote Deposit Misc. Information • Ongoing support provided through Deposit Operations. • Scanners handle 30 checks a minute. • Funds are available next business day if processed by 5: 00 pm. • Customer is responsible for ensuring checks are not deposited twice and assumes all liability.
Remote Deposit Marketing • Demo available on Web site • Flyers available on Mag. Net üLarge quantities may be requested through Marketing • Remote Deposit is integrated into all Marketing campaigns
- Slides: 8