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#269058 - 11/01/04 11:38 AM Cutoff time
Ross Offline
New Poster
Ross
Joined: Apr 2002
Posts: 22
Whats the official cutoff time for your banking day?
Your cutoff time?
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Votes accepted starting: 11/01/04 05:00 AM
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Operations Compliance
#269059 - 11/01/04 11:47 AM Re: Cutoff time
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Your cut-off time for lobby transactions cannot be before 2:00 PM.

Sec. 229.19 Miscellaneous.

(a) When funds are considered deposited. For the purposes of this subpart--
[Abridged]
(5) Funds may be considered deposited on the next banking day, in the case of funds that are deposited--
(i) On a day that is not a banking day for the depositary bank; or
(ii) After a cut-off hour set by the depositary bank for the receipt of deposits of 2:00 p.m. or later, or, for the receipt of deposits at ATMs, contractual branches, or off-premise facilities, of 12:00 noon or later.
(ii) After a cut-off hour set by the depositary bank for the receipt of deposits of 2:00 p.m. or later, or, for the receipt of deposits at ATMs, contractual branches, or off-premise facilities, of 12:00 noon or later.
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