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#1789642 - 02/27/13 04:17 PM Reg CC
amberleigh Offline
Junior Member
Joined: May 2011
Posts: 34
Kansas
We have a customer that wants to deposit a $7000 cashier's check into his checking account. He is a repeat overdrafter. Can we hold the entire check for 7 days?

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Deposits and Payments
#1789678 - 02/27/13 05:23 PM Re: Reg CC amberleigh
Allformyfamily Offline
100 Club
Allformyfamily
Joined: Jun 2010
Posts: 150
You would need to look at the definition of Repeated Overdraft for an Exception Hold. If the customer meets that definition, and the check is not "on-us", then yes, you can hold it for 7 days. Here is a link to BOL Alphabet Soup on Reg CC.
http://www.bankersonline.com/regs/229/229-13.html
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