Reg CC says that Cashier's Checks are next day items. Does this apply to a cashier's check that is a nonlocal check?

Not sure of all the details, but a couple of things come to mind...Was it deposited to a checking or saving account, and can you call the issuing bank to verify it's their check? The answer to those questions may be beneficial to you.

You are correct in that cashier's checks are next day item. It does not matter whether they are local or non-local. As in the previous post, the type of account it is being deposited into makes a difference as money market and savings accounts are not subject to Reg CC. By the way, Monday will be the 15th birthday of Reg CC. Does anyone wish Reg CC a Happy Birthday?

For cashier checks to be next day available, they must be deposited in person and into the account of the payee of the check. There is a double requirement. If the transaction does not meet the double requirement you can treat the check as you do any other local or non-local check.

To Comply Lady --So Reg CC will be 15 years years old...my how time does fly. I think we should do something noteworthy for this day. Yes it's a birthday but it's not a happy birthday.

You might want to check the issue date on that Cashiers Check. If it is more than 90 days old, you should consider placing a hold on the funds. REG CC does not address this situation specifically (more than 90 days) but beware a stop could be on that check!

If a Cashier's Check is over 90 days old, you should consider accepting it only as a collection item.

Cashier's Checks (even non-local ones) are Next Day items EXCEPT:
1. If deposited at the ATM
2. If your customer is not one of the named payees on the front
3. If it's a large check, then the amount exceeding $5,000 is not subject to Next Day.
4. If your depositor has been repeatedly overdrawn according to Reg CC definitions.
5. If you have reasonable cause to doubt collectability. NOTE - if this is the case, then you should not accept the Cashier's Check in the first place. If you have already accepted the item for deposit, and later find out it's a counterfeit, then Reg CC no longer applies to the item (since it was never a check in the first place!)