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#1575231 - 07/07/11 08:02 PM Reg CC split deposits and holds
CARM9 Offline
100 Club
Joined: Feb 2011
Posts: 112
If a client deposits a local check for $1,000.00 and receives $500.00 back, if an extended hold is placed on the check, should the hold notice reflect the net amount of $500.00 or the entire check amount of $1,000.00. If the client already has cleared funds in their account wouldn't they be drawing on these funds and the entire amount of the check be held? Conversely, if they do not have sufficient funds then the bank has already gone beyond the requirements for Reg CC by giving the client access to these funds and their net available would be a negative amount if we place a hold for the entire check amount?

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#1576609 - 07/12/11 01:39 PM Re: Reg CC split deposits and holds CARM9
rachelchri Offline
100 Club
Joined: Aug 2010
Posts: 165
I'm not entirely sure what your hold notices look like, but the one we use at our Institution have both the "Amount of Check" and also wording that states "We are delaying the availability of $__________ from this deposit."

IMO I would put $1,000.00 in the "amount of check" and $500.00 in the delayed availability portion.
Last edited by rachelchri; 07/12/11 01:40 PM.
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