New customer brings in (2) cashiers checks:
(1) - $3200.00
(1) - $3400.00
Do we have to make only the first $5000 available next day and the excess on the 9th, or all the deposit available on the next day. I have confused myself somehow.

Since the aggregate exceeds the $5,000 threshhold for new customer account, you would make the first $5,000 available next-day and the remainder on the 9th business day.

Thanks Doug, that was a quick response.

I thought we could hold the excess but for some reason I just can't think today.

Doug gets all his material from the new account exception hold notice in the model form.

Close, but no cigar.

I actually use a version of one of the "Funds Availability Quick Reference Guides" here on BOL. It's much clearer and concise and always at my fingertips.

BOL: Your one source for compliance information!!!!

I have a question: If a cashiers check in the amount of 10,000 is presented in person by existing customer for deposit can an exception hold be placed first 200 next day, 4800 2nd day, remainder 7th day? I'm getting confused I have referred to the BOL chart listed above, but am still unclear.

No. You can't do a case by case hold on a cashier's check. It would have to be $5,000 next day, remainder on the 7th day.

If the $10,000 cashier check was mailed in to the bank, can you use the large item items exception hold as the $200 next day, $4800 2nd day, and remainder 7th day? Just double checking.

I believe you would still treat it as a 'next-day' item and would have to make $5,000 available the next business day and the remainder on the 7th day.

This assumes it is not an 'on-us' cashier's check, which (if I'm correct) would require the remainder to be available on the 2nd business day.

So does the "not to an employee of the bank" exception not include cashier checks? I thought I understood that some next day items had to be deposited with an employee in order to be considered "Next Day". and if not, they became "checks".

A cashier's check is one of the next day items, from what I have read the check if presented to an employee would be treated as follows: first 5,000 next day (if on us remainder 2nd day) not on us remainder 7th business day.

Another point of clarification please: I am finding that one of our branches is choosing a large deposit exception hold and then putting whatever hold (below the maximum required by the reg)on. I know it's outside of our policy but correct me if I'm wrong not a reg violation.

Holding less than the limit is never a violation of Reg CC unless it happens so often (more than half the time) to make your disclosures inaccurate.

As for a cashier's check deposited by mail (or at an ATM), the "in person to an employee of the bank" requirement is not met. Under 229.10(c)(2), you can delay availability to the second business day after the banking day of deposit. You still cannot place a case-by-case hold, and you don't have to provide next-day access to the first $200. You may use applicable exception holds to delay availability another five business days, but if you use the large deposit hold, the first $5,000 will have to be available on BD 2.

If it fails more than just the "in person" deposit requirement -- for example, if it's also not deposited to an account of a payee or a required special deposit ticket is available but isn't used, it's no longer treated as a cashier's check. It's then one of the "other" checks just like a personal biurthday check from your Aunt Tilly in Topeka.

Back to this cashier check not presented "in person to an employee of the bank". When we delay the availability to the second day, are we not required to give any type of notice? On that same point - isn't that the same as a case-by-case hold, just without the $200 available next day?

It's not a CBC hold because you can't place a CBC on a cashier's check unless it is deposited by someone other than a payee of the check or without a required special deposit slip. I believe no notice is required.

Ken,
Our bank is installing some ATMs that accept deposits. These can scan the item(s) being deposited. Since Reg. CC has not been updated regarding $200 next day, where do I find the ATM deposit rules? Some of our employees maintain accounts at BofA and WF, so we have learned that these banks give only $100 next day on check deposits. But I'd much rather have it in writing than just simply following what the mega banks do. Also where can I find that deposits at ATMs do not require a notice sent the next business day when the ATM deposits are removed/reviewed? THANKS.

Just to clarify on WF. I have an account with them and was making a deposit yesterday so decided to check my recollection prior to responding here. When you deposit via the ATM without a deposit slip (scanning the check into the ATM), you receive an immediate $100 availability (not next day) and the balance is available the next morning subject to large $ and that sort of limit.

OK, thanks for the WF clarification. But what I really need to know is -- where is it written that ATMs do not have to honor the new $200 next day availability minimum AND that a hold notice is NOT required for ATM deposits, should we decide to place an exception hold upon reviewing ATM deposits during the next business day?