I am having an issue with the company that does our products. They say that subjecting savings accounts to Funds availability is an option and when setting up a savings product it allowed funds availability as a disclosure option. I did not interpret the regulation to say that we have a choice - savings accounts are not transaction accounts. Can I get someone elses interpretation on this?

Thanks!

From a contractual perspective, you can contract with a customer to handle an account in any manner you want, as long as it is within the law. Savings accounts are not covered under the regulation, but you are free to cover them through your depositor's agreement if you so choice.

Thanks!