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#1433200 - 08/24/10 02:17 PM Reg CC
Anonymous
Unregistered

MY FI is revising our Reg CC P&P. I have a sample from a very reputable source. But under sameday availability they include US Treasury Checks and On us checks.

I'm confused because I can't find that in the reg. Everything I've read (and have known prior) is that the earliest checks have to be made available is next-day.

Also since we are revising now can we go ahead and state that we will give access to first $200 if placing a hold (if applicable of course)? I see know reason why we can't as long as we practice what we preach.

Either I'm not as "up on" reg cc as I thought or I'm just simply crazy or both. A little assistance would be helpful.

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#1433269 - 08/24/10 03:19 PM Re: Reg CC Anonymous
Doug Hendrickson Offline
Power Poster
Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
Generally US Treasury and On Us Checks are next-day availability (subject to some conditions). However, there is nothing to prevent a bank from giving them same-day availability. Perhaps this is what the policy you have is stating.
_________________________
I hear and I forget. I see and I remember. I do and I understand.--Confucius

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#1433309 - 08/24/10 03:45 PM Re: Reg CC Doug Hendrickson
West Coast Comp Offline
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West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
Doug is right, the rules provide the maximum hold time not the minimum (immediate availability). If your FI wishes to accept the risk of immediate availability it can do so.
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#1433313 - 08/24/10 03:49 PM Re: Reg CC West Coast Comp
Anonymous
Unregistered

Thanks for verifying what I was certain I already knew. I hate it when doubt enters the brain, but better safe than sorry.

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#1433321 - 08/24/10 03:53 PM Re: Reg CC Anonymous
Doug Hendrickson Offline
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Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
You had a second part to your question which I don't think I answered. Yes, you can go ahead now and give $200 availability on a hold (when applicable), instead of the current $100. Again, as West Coast Comp stated, the $100 is also a minimum and does not prevent you from giving more than that amount.
Last edited by Doug Hendrickson; 08/24/10 03:54 PM.
_________________________
I hear and I forget. I see and I remember. I do and I understand.--Confucius

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