How are you handling Deposit Charge Offs today?
Are Deposit Charge Offs currently being closed and changed into loan accounts? Or are you currently writing off an overdrawn checking or savings to a general ledger account after a specific number of days? Are you handling all recovery to these accounts manually?
The latest Fiserv Premier® Release has the capability to automatically charge off deposit accounts. Recovery tracking, Notification, Integration and Credit Reporting capabilities are also available. Once this process is implemented, the need to manually monitor reports, individual accounts and post manual entries is eliminated.
Please contact us at firstname.lastname@example.org if you are interested in learning more about Deposit Charge Offs and the implementation process.