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In Response To:
Thread Starter: burkemi
Title: Re: Cashier's Check and Reg CC New Account

Originally Posted by Anonymous
Originally Posted by BrianC
Quote
Don't forget, you can place a "Case By Case" hold on the check.

No, you can't. Case by case holds cannot be placed on mandatory next day items such as cashier's checks.

REGARDLESS, you can FIND a reason to hold ANY check.

If you think that a brand new customer is opening a brand new checking account with a $500,000.00 Cashier's Check and getting $494,500.00 available in a few days, you're nuts.

You're still not quite right. If you're hunting and inventing reasons to hold a check you're violating a federal regulation - period. However, if you have a brand new customer that comes in a $500k cashier's check that you don't trust you can refuse the check altogether.