New Account Exception Hold

Is a bank required to notify a consumer each time it places a new account hold? Or is a one time notice in the Terms and Agreements sufficent? We also post on our Funds Availability Policy.

There are no specific notice requirements for each deposit other than the Funds Availability Policy disclosure at account opening for new account holds.

This is what I thought! It's nice to have a forum that can be used to verify what one thinks!

Thanks for the assistance.

What if your disclosure says special rules "may" apply for new accounts. I read in another area where it appeared to make a difference if you said "will" or "may". I was under the impression also that as long as it was spelled out in the disclosure we are OK...but now I wonder about that one little word. Does it trigger the hold notice? Our exception hold notice is a very detailed fill-in-the-blank form but "new account" is not listed as a reason for delayed availability.