To the point made by the previous poster, I agree that MICR detection can be a bit of a “Red Herring”. This timeframe typically took anywhere from 1 to several days (rarely, in some cases, weeks or months). If it was a legitimate check but had no MICR, it would be “corrected” and actually clear. If the item was fraudulent, it would eventually be returned. So… in the “traditional” way of check clearing (Pre-RDC), the vast majority of items were accepted and forwarded for clearing. Very few banks actually refused to accept checks that looked suspicious. Authentic checks with poor or no MICR were (and still are) prevalent. I think it helps to look at the “traditional” process of depositing and clearing paper checks, compare that to the process of RDC and Image-based clearing, then take a closer look at RDC to see how we can “optimize” the system.įake checks were a problem even before RDC came about.
0 kommentar(er)
