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#2057761 - 01/11/16 03:43 PM Deposit Cut-Off Tinme
HubbaBubba Offline
Gold Star
Joined: Sep 2002
Posts: 311
If we want to change our deposit cut-off time to an hour later (which actually benefits our customers), do we need to give a 30 day prior notice to the change?

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Deposits and Payments
#2057807 - 01/11/16 05:08 PM Re: Deposit Cut-Off Tinme HubbaBubba
Doug Hendrickson Offline
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Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
No, but you do need to give it by 30 days after the change, since it does expedite the availability of funds:

See Reg CC 229.18(e)Changes in policy. A bank shall send a notice to holders of consumer accounts at least 30 days before implementing a change to the bank's availability policy regarding such accounts, except that a change that expedites the availability of funds may be disclosed not later than 30 days after implementation.
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