Remote Deposit Capture (RDC) is a form of payment in which users can deposit a check by taking a picture of it. RDC is more convenient than depositing a check at an ATM or at a bank branch because it allows users to make the check depositfrom the comfort of their home. However, it exposes the platform to standard RDC fraud and return risks.
Transaction (Node) Type:
- Make sure your controls (what you are allowed to do in our system) allow for RDC transactions.
- Have an account owned by a user with
SEND-AND-RECEIVEpermissions and who is not a match in one of our sanctions lists click here for our guide on how to check for this.
- Have the user take a picture of the front & back of the check and submit to us via Create RDC Transaction API call. Please look at Remote Deposit Capture.
- Our machine learning stack will analyze and validate if the check is valid, if in doubt, our system will escalate the captures to our compliance team who will manually validate or invalidate the RDC. While we make these validations the transaction will have a
- If the check capture passes our inspections we will process the transaction, at which point the transaction status will pass to
3:00 PM PT
Credits for RDC transactions are issued and settled in 6 business days by default. This timeline can be slightly reduced, but doing so will significantly increase your exposure to NSFNSF - Non-Sufficient Funds (or Insufficient Funds) returns which occur within the first 3 business days following deposits.
Updated 6 months ago