The definition of "new account" for purposes of the new account exception holds is found in paragraph (2) of section 229.13(a).
(2) An account is considered a new account during the first 30 calendar days after the account is established. An account is not considered a new account if each customer on the account has had, within 30 calendar days before the account is established, another account at the depositary bank for at least 30 calendar days.
The correct response to your question is Yes, it is considered a new transaction account if the person has not had an open transaction account with you in the last 30 days. If the new account is a joint account, it is considered a new account if none of the joint owners has had a transaction account with your bank in the last 90 days.
Here are several examples of what constitutes, and does not constitute, a new account taken from comment B 229.13(a)-1.b. In each case, the word "account" when not modified refers to a transaction account.
i. If the customer has an established account with a bank and opens a second account with the bank, the second account is not subject to the new account exception.
ii. If a customer's account were closed and another account opened as a successor to the original account (due, for example, to the theft of checks or a debit card used to access the original account), the successor account is not subject to the new account exception, assuming the previous account relationship is at least 30 days old. Similarly, if a customer closes an established account and opens a separate account within 30 days, the new account is not subject to the new account exception.
iii. If a customer has a savings deposit or other deposit that is not an account (as that term is defined in §229.2(a)) at the bank, and opens an account, the account is subject to the new account exception.
iv. If a person that is authorized to sign on a corporate account (but has no other relationship with the bank) opens a personal account, the personal account is subject to the new account exception.
v. If a customer has an established joint account at a bank, and subsequently opens an individual account with that bank, the individual account is not subject to the new account exception.
vi. If two customers that each have an established individual account with the bank open a joint account, the joint account is not subject to the new account exception. If one of the customers on the account has no current or recent established account relationship with the bank, however, the joint account is subject to the new account exception, even if the other individual on the account has an established account relationship with the bank.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8