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#20125 - 06/10/02 12:30 PM Out-of-State State Check and Reg CC
PatrickG Offline
100 Club
Joined: Jun 2001
Posts: 165
Binghamton, NY, USA
Our state’s Department of Taxation and Finance issues checks drawn on a bank account that has an out-of-state routing number (non-local). Do we have to figure out a way to give next-day availability? Can we require the use of a special deposit ticket for those checks?

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Operations Compliance
#20126 - 06/10/02 03:49 PM Re: Out-of-State State Check and Reg CC
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
How disloyal of your state to use an out-of-state bank! Of course, there must be mitigating reasons for their choice.

These checks qualify under §229.10(c) for next-day availability, regardless of where the drawee bank is located. You may condition that next-day availability upon your customer's use of a special deposit ticket.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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