Select Board discusses check reader, remote deposit and bank limits
Board members said the town will get a check reader to enable remote deposit; discussion noted potential daily bank limits (one member cited a $5,000 daily limit) and security considerations for large deposits.
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Members discussed a forthcoming check reader that will allow remote deposits and reduce the need to travel to the bank. One Select board member noted limits to consider: "I know our bank has a $5,000 limit per day, and then so many thousand per week," a practical constraint the board said they must account for when accepting large deposits or running multiple transactions.
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