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#1672605 - 03/02/12 06:57 PM ATM Deposit Availability
Hi Offline
Member
Joined: Jun 2003
Posts: 54
Is there any requirement to make any portion of a deposit made at an ATM immediately available for withdrawal? For example, deposit containing a Treasury Check.

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Operations Compliance
#1672787 - 03/02/12 09:19 PM Re: ATM Deposit Availability Hi
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,702
Cape Cod
T-checks deposited at a proprietary ATM are next-day availability items. Deposited on Monday, available on Tuesday.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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#1672834 - 03/02/12 10:06 PM Re: ATM Deposit Availability Hi
MyScamper Offline
Gold Star
Joined: May 2006
Posts: 452
Between here and there
But, John. Don't we have to make the first $200 available immediately?

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#1672837 - 03/02/12 10:08 PM Re: ATM Deposit Availability Hi
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
No. Regardless, of the type of check deposited, the $200 need not be made available until the next day.
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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#1673006 - 03/05/12 03:27 PM Re: ATM Deposit Availability Hi
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,702
Cape Cod
I'll qualify what Ken said just a smidge -- If you disclose (in your account disclosures) to customers that you make the first $200 of an ATM deposit available immediately, that's what you have to do. The regulation, however, doesn't require you to make available any deposit made in cash or by check until the next business day, or later, in some cases.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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