Managing Mobile RDC Risk
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24 June 2011Bart Narter
Chase is the leader in mobile remote deposit capture (RDC), with more customers depositing more checks than anyone else in the market. I just received a notice from them that is essentially Chase practicing good risk management. Dear Chase Customer:You are receiving this message because you are enrolled in Chase QuickDepositSM. We want to provide you the following updates for this service.
- You may deposit as much as $1,000 on any day and as much as $3,000 over any thirty (30) day period.
- Federal Reserve Board Regulation CC (availability of funds) does not apply when you send us images of your electronic checks. Generally, you will be able to withdraw funds by the second business day after you make a deposit. However, we may delay access to your funds based on factors we determined in our sole discretion.
- We may return or refuse to accept all or any part of a Chase QuickDeposit transaction at anytime. We are not liable if this would cause outstanding checks or other debits to your account not to be honored and returned.