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Mobile Remote Deposit Capture Disclosures Lacking: Pew

Survey finds large banks dont offer consumers information on the status of deposited funds.

By Robert McGarvey | Updated on November 18, 2014

A report from Pew Charitable Trusts found that banks are not doing enough with their disclosures on mobile remote deposit capture.

“Mobile remote deposit capture is a feature of mobile banking that is gaining in popularity with consumers, banks, and prepaid card companies. But Pew identified 10 areas in which either the terms of mRDC products are poorly disclosed or basic features, such as notifications regarding the status of deposited funds, appear to be generally unavailable,” the Washington-based think tank wrote.

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