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#393329 - 07/28/05 09:51 PM Reg CC $100 availability
Anonymous
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If you have a deposit of mixed availability checks and we have reason to doubt collectability on one large non-local check in that deposit - you still have to make $100 available - right??

What if you have a only one item for deposit and you doubt collectability - can you put an extended hold on the whole thing?

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General Discussion
#393330 - 07/29/05 06:12 AM Re: Reg CC $100 availability
Princess Romeo Offline

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Princess Romeo
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Quote:

If you have a deposit of mixed availability checks and we have reason to doubt collectability on one large non-local check in that deposit - you still have to make $100 available - right??


You only need to make $100 from the total of local and/or non-local items available the next day. You do not need to make any amount of a reasonable doubt item available the next day.

As an example, your customer deposits 5 checks. 4 of the checks total $500, and the 5th check is for $2,000. You have reason to doubt the collectability of the $2,000 check and place an Extended Hold on that item. You place a "Case by case" hold on the other items and hold them for either 2 days or 5 days depending on the local or non-local nature of the check. You would still need to make $100 of that deposit available the next day.

Quote:

What if you have a only one item for deposit and you doubt collectability - can you put an extended hold on the whole thing?



No - items with a Reasonable Doubt hold are not included in the $100 availability.
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