Remote Deposit Policy
This week’s free banking policy is a Remote Deposit Policy.
Excerpt: “Remote Deposit Capture (RDC) enables businesses (referred to within as “merchants”) to make deposits from their business locations instead of taking the deposits to the financial institution. Digital information captured at the business location is transmitted to the financial institution. RDC introduces new risks and increases existing risks in processing deposits originated by the institution’s commercial or retail customers, or by customers of other financial institutions.”
Every Tuesday, Continuity Engine releases a free banking policy for use by community banks and credit unions across America. These policies are made available through Creative Commons licensing so that banks and credit unions may freely remix and reuse the content to suit their individual financial institution’s needs. When we release a new policy, the previous week’s policy is archived on Control where it is always available for free to community members. In case you were wondering, membership in our community is always free for credit union folks and community bankers.
Please remember that this policy is only available for free on our website through December 21, 2009. If you are looking for a particular policy that you would like us to feature on a future Free Policy Tuesday, please let us know in the comments!
Photo credit: David Goehring
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