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#1803327 - 04/10/13 05:55 PM REG CC availability question with multiple checks
Pop Pop Offline
Junior Member
Joined: Dec 2003
Posts: 34
Florida
I have a customer who deposited a $500 check and a $2,000 check on the 1st . The teller then placed a case-by-case hold on the $2,000 check and entered the hold so that it released $2,000 on the 3rd. No $200 was given next day on the 2nd because the teller believed the next day availability of the $500 check covered the $200 requirement. Is this a correct assumption?

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#1803338 - 04/10/13 06:11 PM Re: REG CC availability question with multiple checks Pop Pop
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 78,631
Galveston, TX
Yes.
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#1803380 - 04/10/13 06:56 PM Re: REG CC availability question with multiple checks Pop Pop
Pop Pop Offline
Junior Member
Joined: Dec 2003
Posts: 34
Florida
Thank you. I agree, but I have deposit operations people disageeing with me.

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#1803388 - 04/10/13 07:02 PM Re: REG CC availability question with multiple checks Pop Pop
BrianC Offline
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BrianC
Joined: Nov 2004
Posts: 6,206
Illinois
Then I suggest that the other deposit operations people reread Reg CC 229.10(c)(1)(vii)(B) which states that the availability is based on the aggregate amount of checks deposited in one business day.

(Note ignore the fact that part A still says $100.)
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