Hello. Guy here in charge of my banks Mobile Deposits. Essentially we require the user to endorse and write “For Mobile Deposit Only” on the back of check underneath your endorsement. We get a digital copy of your check and it is electronically stamped. All physical paper checks and scanned anyways in to digital format and submitted to FED. You are required to keep the check for 60 days in case the check gets returned for any reason, i.e fraud. We also know alot of the signs of fake/ fraudulent checks and look for those. We see a lot more of these type of checks than you would think. If the user no longer has said check then we charge the check back to the customers account to get the money back. If the user doesn’t have enough money to cover the check being returned then the account is put into overdraft and the user must deal with that. But that is a much longer topic. That should cover it. Let me know if any other questions regarding this type of stuff :).
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