Our current cut-off time is 3:00 p.m. We are considering changing it to 4:00 p.m., but my courier currently picks up our outgoing cash letter around 4:30 p.m. There is no way we can get all the work from the branch here, ran and processed by 4:30 p.m. I was wondering if anyone had any suggestion of how to handle the situation.

We are considering cutting off a cash letter @ 3:00 p.m. and sending it with the courier. The work from 3:00 to 4:00 would go out the next day. It looks like the midnight deadline would be satisfied. Any thoughts? Does anyone else have this issue and how did your bank solve the problem?

We called for a later pick up time by the courier.

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It looks like the midnight deadline would be satisfied

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The midnight deadline refers only to return items, and you should have made a decision by 3:00 PM on what items to return. For items deposited to you (BOFD), there is no deadline for presenting these to FRB (or any other clearing house), but you delay your credit for every day you hold them. One suggestion would be to leave the courier at 4:30, but have an early cutoff (3:00 PM) where you process everythign up to that point, then after the 4:00 cutoff, run these remaining items. It will be less volume to process, and you may be able to do this and have the cash letter ready in 30 minutes. You would incur a larger cost to FRB for 2 cash letters, but it may be offset by the elimination of an additional day of float.