12/9/2023 0 Comments Current reg cc check available![]() ![]() In emergency situations (severe weather, computer malfunctions, etc.).Reasonable cause to doubt collection ability - if a financial institution has reason to believe the check being deposited will not be honored by the paying bank.(The branch may use this exception for 6 months after the last overdraft that made the depositor a “repeated overdrafter”) Repeated overdrafts - if a customer has been overdrawn on an account on any 6 banking days within the last 6 months, OR overdrawn by $5,000 or more on any 2 banking days in the last 6 months.Checks redeposited due to insufficient funds.Large deposits - when the amount of local and non-local check deposits exceeds $5,000 on any single day, the amount over $5,000 may be held for an extended period.An exception-based hold can be placed for any of the following reasons: “Reasonable” is defined as up to an additional 5 days for local checks and an additional 6 days for non-local checks. In certain instances (called “exceptions”), a bank may place “reasonable” extended holds beyond the statutory limits. Include in its funds availability disclosure an explanation that the hold period may be extended on a case-by-case basis. Provide notice to the customer when a case-by-case hold is invoked, and To be able to place case-by-case holds, the institution must: If an institution normally makes funds available sooner than required, it may place holds up to the statutory limit on a case-by-case basis. Treasury checks, Postal Service money orders, checks drawn on a Federal Reserve Bank or Federal Home Loan Bank, state or local government checks, and cashier’s, certified, and teller’s checks not subject to next-day availability.ĭeposits of the following items to a transaction account must be made available for withdrawal no later than the fifth business day after the day of deposit: (This is in addition to the $100 already made available by the $100 rule.)ĭeposits of the following items to a transaction account must be made available for withdrawal no later than the second business day after the day of deposit: On the day that funds become available for withdrawal, a bank may limit to $400 the amount of cash that the customer may withdraw. In addition, the first $100 (or the entire amount if the deposit does not exceed $100) from a deposit of local or non-local checks must be available for cash or other withdrawal no later than the day after deposit. Cashier’s, certified, and teller’s checks Federal Reserve Bank or Federal Home Loan Bank checks United States Postal Service money orders The following items if deposited in person to the payee’s account: United States Treasury checks deposited to the payee’s account The purpose of Regulation CC is to standardize and limit the hold periods placed on checks deposited to transaction accounts, and to ensure the adequate disclosure of funds availability policies to customers.ĭeposits of the following items to a transaction account must be made available for withdrawal no later than the first business day following the day of deposit:
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