Savings Funds Availability

by Mary Beth Guard
Guru BIOS

Question: I understand that funds availability statute and regulation apply to transaction accounts. What, if any, option do I have to hold funds on a traditional passbook savings account?

Answer: You have whatever options your contract with your customer gives you. Put another way: You do not have the restrictions that the EFTA and Reg CC would place on you.

First published on BankersOnline.com 06/28/04