With regards to holds on New Accounts is the following correct?

> On Us checks - 9th day availability on the whole amount; next day rules do not apply to the first $5000
> Local checks - no max time frame (bank establishes and discloses in policy disclosure)

Thanks in advance.

Technically on us checks are not subject to next day availability under the new account rules.

But, 9 days on an on-us check and more than 9 days otherwise in today's expedited collection environment??

That is what created Reg CC in the first place.

I don't see us every putting a hold on an On Us check and I've never seen it when auditing. But I wanted to be sure I was understanding the rule correctly.

So is what I stated above technically correct?

Yes