Thread Starter: John Burnett
Title: Re: Cashier's Check and Reg CC New Account
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Correct. For a new account hold on deposited "next day" checks, you make the first $5,525 of the next-day checks available by the start of business on business day one after the banking day of deposit. The rest of the "next day" check amount has to be made available by the start of business on the 9th business day after the banking day of deposit.
On-us checks are not covered by the new account hold rule, and the $225 next-day availability provision of §229.10(c)(1)(vii) and the provisions of §229.12 aren't applicable to any other checks deposited to a new account.
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