Mobile deposit chargeback and indemnity

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Question:

My back accepted a mobile-deposited check that was returned by the paying bank as “previously paid.” Our depositor has apparently left town – his account with us is closed. The paying bank told us the check had been mobile deposited at a local credit union two days before it was deposited with us. Do we have any claim against that credit union to recover our loss?

Answer:

No. The Regulation CC RDC/Mobile deposit indemnity is only available to depositary banks that accept the actual paper check, or a substitute check derived from the paper check, if they sustain a loss because the check is returned unpaid to them due to duplicate payment or presentment. The indemnity does not benefit a depositary bank that received the check for deposit via RDC or mobile deposit.

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Learn more about John Burnett’s Mobile Deposits: Controlling Losses webinar.