We will be changing the cut off time for accepting Remote Deposit Capture items for deposit from 3pm to 5pm. The cutoff time is included in the customer agreement, with a clause "Bank reserves the right to change the Deposit Limit and Cut-Off Time. These modifications are effective immediately and may be implemented prior to Customer’s receipt of the newly established Deposit Limit or Cut-Off time." So I would say that prior disclosure is not required, but that the bank would need to notify customers of the new cut-off time.

My question is when notifying the customer of the newly established cut-off time can we provide a notification for the amendment to the agreement, or does the customer have to sign something acknowledging they received an amended agreement?

Thanks

You've already informed the customers of this service that the cut-off time may be changed. So you don't need agreement or receipt. I suggest getting the notice out as soon as practicable, though, because there might be one or two of those customers who will be confused if deposits start showing up on their accounts a day earlier than expected once in a while.