Bank Of First Deposit

The bank of first deposit, also known as the BFD, refers to the branch or outlet that receives an initial deposit.

Before checks enter the system of processing funnels connecting funds with accounts, checks must be prepared for automated processing. The bank of first deposit is likely to be manually involved (you hand your teller a check, they process your request). Due to the fact that checks can be processed by over a dozen readers or scanners prior to the completion of a transaction, there are a number of benefits in being able to recognize the initial branch involved in the process. Individuals involved are questioned, circumstances are investigated and problems can resolved.