Customer brings in three cashier checks for $7,500 each. I give $5000 availability on each check and not the total deposit of $22,500 right?

"Sections 229.10(c) and 229.12 do not apply to the aggregate amount of deposits by one or more checks to the extent that the aggregate amount is in excess of $5,000 on any one banking. day"

brain [censored] Friday

Not right.

The phrase "aggregate amount of deposits" indicates that you add the total amount of the checks deposited ($22,500) and then make $5,000 available next day meaning you can hold $17,500.

Ok, we have a similar situation and I think I am over-analyzing the hold.

Say new customer opens 2 new checking accounts. New customer wants to deposit 2 cashier checks for $10,000 each and put $5,000 in one account and the rest in the second account. Would only the 1st $5,000 of the total amount be available or would $5,000 for each account deposit be available?

If this is a new customer, you could apply the new account hold, if it's in your funds availability policy.

In this way you can hold the entire deposit for each account for up to the time limit you set in your policy.

Ok, thanks!

Not if the new account deposit contained cashier's checks...A new account hold will still require that the first $5,000 be made available next day (regardless of how many accounts into which the funds are deposited.) The remaining $15,000 would have to be made available no later than the 9th business day based on your availability policy.

Duh! I forgot about the "cashier check" part!

Thanks, I appreciate the responses!