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#2270373 - 05/12/22 03:31 PM Presenting of Checks for Overdrafts
Anonymous
Unregistered

We have an adhoc overdraft program (not an overdraft service) and we present checks that our lower to higher.

Is this correct and what regulation covers this?


Thanks

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#2270377 - 05/12/22 03:58 PM Re: Presenting of Checks for Overdrafts Anonymous
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
It is a matter of your depositor's agreement and any State law.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2270444 - 05/13/22 10:13 PM Re: Presenting of Checks for Overdrafts Anonymous
Anonymous
Unregistered

Lower dollar amounts to higher dollar amounts?

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#2270447 - 05/14/22 12:53 PM Re: Presenting of Checks for Overdrafts Anonymous
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
It means they pay checks presented in the order from the lowest dollar amount to the highest dollar amount which results in the fewest checks returned, but the higher dollar amount checks might be more important.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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