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Banking Check Deposits Date Stamping Checks For Deposit Only

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Last Modified: 2015-04-09
We have business units that receive checks for deposit.  As an internal control, they have been instructed to stamp the checks "For Deposit Only" as soon as they are received so that no one can do anything else with the checks.  One of the business units has a stamp that includes a date stamp in addition to the "For Deposit Only" text.  Sometimes that business unit is not able to deposit checks until a day or two after they are received.  Therefore, if they stamp them when received, the date stamp will not match the deposit date.  Does this matter?  It seems to be that it doesn't but I want to try to make sure before issuing guidance. I believe the date stamp only pertains to the date the business unit receives the check and has no relationship to the date the check is actually deposited.  If there is a relationship, then that would mean we would have to instruct that particular unit to hold off on stamping the checks until the date of deposit which would be an internal control weakness because they would have checks on hand without the "For Deposit Only" stamp on them.  Any thoughts?  Thank you.
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