Remote Deposit Users

August 02, 2018 10:20PM

I received the following information from Crappy Credit Union:

On July 1, 2018, a new Federal Reserve Board rule took effect that will impact your use of the NASA Federal Remote Deposit service. The new regulation looks to prevent accidental presentment of duplicate items. As a result, all checks submitted for deposit through Remote Deposit MUST be endorsed with the following:

Your name (i.e., signature)
Date of deposit (mm/dd/yy), and
The words "NASA FCU for deposit via Remote Deposit only"

Checks submitted for deposit that are not properly endorsed as indicated will not be accepted. This information is also located in NASA Federal’s Remote Deposit Agreement.

If you have any questions, please call us at 1-888-NASA-FCU and a Member Service Associate will be happy to assist you.

Thank you in advance for your cooperation and for being a valued member. We appreciate your business and look forward to being of continued service to you for many years to come.

Sincerely,

Member Services
NASA Federal Credit Union

"I told myself to quit you; but I don't listen to drunks." -Chris Stapleton

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August 02, 2018 10:33PM

I've noticed on the few checks I have received recently there is now a check box on the back where you check it if you are using remote deposit.

August 02, 2018 10:51PM

I think it's great to have to write on the check when you deposit. My credit union takes deposits without any endorsement. I found a small check I didn't think I deposited. I made the mistake of depositing a check twice.

I had just started using the app to deposit to my credit union account but opened another bank account to do teller audits. I found a check for $5, wondered why I hadn't deposited it and put in the envelope to deposit the next set of teller audits. Not only did it cost me $18 service charge from the bank but I go a less than nice email from the MSC.

August 03, 2018 02:00AM

Until I got this email at the end of July, I just endorsed the check with my signature and wrote "Deposit Only." on the back of the check. After the deposit was submitted, I would write the date of deposit on the front as a reminder to myself.

I guess the ease and convenience of making deposits this way caught up to the banks.

"I told myself to quit you; but I don't listen to drunks." -Chris Stapleton

August 03, 2018 10:50AM

Many years ago I was taught to write the following on my checks:
for deposit only to (account number) . A check that has only a signature is like cash, I was told. Anyone can re-endorse it and deposit or cash it at their will. Now, cashing such checks is no long an option as far as I know, but as long as that check clear a normal "hold" for re-endorsed items, it can be deposited at will. Looks like the future is an electronic theft version of the past. Fortunately, I do not have to change my old habit, since it is new again.

Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel

Poor customer service? Don't get mad; get video.

August 03, 2018 04:49PM

@walesmaven wrote:

Many years ago I was taught to write the following on my checks:
for deposit only to (account number) .

My sister (who's an accountant) also taught me that many years ago, in the time when there was no PayPal and I used to receive dozens of checks each week. She then bought me as gift, a rubber stamp with the info on it....and it still gets regular use.

That said, the remote deposit situation has definitely caused a shift in my routine. After stamping and processing, newly deposited checks get placed into a 'processing' bin on my desk, then filed away away after the deposit has gone through. I have had 2 checks over the past year kicked out of the system for a glitch, or flare in the photo, and they needed to be re-deposited, so be careful not to immediately write anything on the check that may void it or cause it to be invalid.

August 03, 2018 05:23PM

Good to know. Haven't seen this yet in any of my banks I work with. On my end, it'll force me to better my QC process any ways whenever going through my personal admin work in verifying payments and such.

Very infrequently shopping the Greater Denver Area, Colorado Springs and in-between in Colorado these days.

August 04, 2018 10:31AM

My primary bank has not sent anything out regarding this. I make one small deposit per month to Crappy Credit Union. It is in person because I cannot use their app due to security.

"I told myself to quit you; but I don't listen to drunks." -Chris Stapleton

August 04, 2018 01:56PM

I'm so set in my ways I still like to go to the bank to deposit checks.

August 04, 2018 02:27PM

BoA's online app now makes a similar statement about acct # and bank name.

Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel

Poor customer service? Don't get mad; get video.

August 04, 2018 10:37PM

I work at a credit union and they are definitely changing the remote deposit. It's because whoever is presented the paper check at the branch gets dibs on the money even if it was remote deposited before. So, they want to make it clear what is going on with the check. I just sign and write "Mobile Deposit with <name of bank/CU". I'm hoping that will be enough.

And no financial institution cares about the check box, That's just for the customer to remember he already deposited it once.

August 05, 2018 02:42AM

I don't get many checks any more, but my bank is on a major road I drive up and down all the time. It's easy to swing in and use the ATM.

@JASFLALMT wrote:

I'm so set in my ways I still like to go to the bank to deposit checks.

Happiness is not a goal; it is a by-product. Eleanor Roosevelt

August 05, 2018 11:31AM

Kathy, I recently had a bad experience with PayPal, so I don't use them anymore. All but one of my MS payments are checks or direct deposit.

"I told myself to quit you; but I don't listen to drunks." -Chris Stapleton

August 05, 2018 11:37PM

@HonnyBrown wrote:

Kathy, I recently had a bad experience with PayPal, so I don't use them anymore. All but one of my MS payments are checks or direct deposit.

That depends on how you have PP set up from my understanding if it is a personal account and they disallow you, you are outta luck. But if it is a business account close it and open one under a new name and bank.

August 05, 2018 11:44PM

I still bank the old fashioned way. On the couple of companies that still mail checks I take them into the bank to a teller to deposit. All of the other companies I work for I have direct deposit with.

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