Is there a requirement to post cut-off times at teller lines? I can't find it in Reg CC. Does anyone know what Reg this would be addressed in?

I know of no actual regulatory requirement to post the cut-off time at the teller line, but most banks that have one do in order to avoid customer confusion.

We do post, mostly as a matter of customer service.

Our Wal-Mart facilities close at 7:00 during the week, but hte cut-off time is 6:00. We post this along with signs stating that Saturday deposits aren't credited until the following business day.

Jeeze, if this is what you want, I feel dirty using a Reg. CC answer. We have it at the teller lines, and I believe have used this cite as justification, OSC and the timing cite.

§229.16 [Commentary] Specific Availability Policy Disclosure 6. The business day cut-off time used by the bank must be disclosed and if some locations have different cut-off times the bank must note this in the disclosure and state the earliest time that might apply. A bank need not list all of the different cut-off times that might apply. If a bank does not have a cut-off time prior to its closing time, the bank need not disclose a cut-off time.

§229.16 (c)(2)(ii) Timing of notice. The notice shall be provided to the depositor at the time of the deposit, unless the deposit is not made in person to an employee...

Andy,

Doesn't 229.16(c)(ii) just talk about the timing requirements for the delivery of a case by case hold notice. Although the cut-off times are required to be in the intitial disclosure, I really don't think there is a requirement in Reg CC to post cut-off times at the teller counter.

I agree, Reg CC refers to notifying the customer in the disclosures. It does not require you to physically post the cut off time in the lobbies or elsewhere.

Post deleted by kansayaku

This references the time periods available for withdrawal, not the cut off time.

Post deleted by kansayaku

See the Appendix C C-15 and C-15A. These are the disclosures to be posted where consumer deposits are accepted. They do not reference cut off times. The bank's various cut off times are generally provided to the depositors at time of acct opening.

I think the reference should be to samples C-17 and C-18.

C-15 and C-15A refer to disclosures where consumer deposits are accepted, C-17 and C-18 are disclosures for ATM's and deposit slips (but maybe my book is old and the #'s are wrong, but the descriptions of the notices should be the same) THe original question was referring to disclosures where deposits are accepted.

One last thought on this issue. I don't think anyone is advocating "not" posting cut-off times at the teller line. It's just that it is not a regulatory requirement. I have always suggested that it be posted as a customer service.

I agree, however management usually disagrees. And as it is not required, it is not posted. The reason I would like it is not for Reg CC, but for the customers who think there deposit will be posted that day, but it is after cut off so it is not posted until the next day.

I think your management may have lost sight of who signs their paycheck if they balk at fully informing your customers of your policies.

The cutoff times for the braches, ATM's, and night depositories are included in the documents provided to the deposit at time of acct opening so they are fully informed. That is what is required, at least here in Florida.