Originally Posted by
radonc1
Read the back of your MO again.
You are prohibited from depositing the MO via mobile deposit. If you ignore this and something goes wrong, it will be on you to fix it, no matter where in the system the error is or if your deposit vanished into thin air.
All you have is a piece of paper that is worth bubkis if someone else has drained it. MG is not going to make you good. That is all that they are saying.
I understand what they are saying, but the issues that could occur from what i can tell would be that your bank and MG fail to exchange fund and complete the deposit for whatever reason. you still have a legal tender MO you can take to the bank physically and get the bank to try again.
If the MO somehow gets drained before you can make the deposit, (like sometimes happens with VGCs during fraud) and you still have the MO, you think you cant take it to the bank and get the bank and MG to fix the fraud?
I think as long as you have the paper, and its legal and valid, you can always take it to a bank and make a in person deposit and then they have to deal with it. However if you snap the pic, the mobile deposit fails, and you toss the MO then yea, you're screwed. I think that's what they are getting at. And since you can see funds available before the funds have officially cleared on the back end, people think they are good, but if your bank never gets the funds from MG, they will reverse that deposit on you up to 10 biz days later. thats why all mobile deposits programs say keep the check for 14 days before you toss it. I think MG is just making the same warning, but from their end, and with different scary wording in an effort to reduce fraudulent deposits. I wonder if there are people out there running check kiting fraud with MOs and modifying the MOs and doing mobile deposits and draining the accounts into cash before the back end transfer occurs.