Hold on Split Deposit

Check total is $29,901.40. $29,801.40 was deposited into a checking and $100 into a savings.

The $100 in the savings was made available next day.

Of the $29,801.40 deposited into the checking the teller gave $200 next day, $4,800 second day and put a hold for $24,901.40 for seventh day availability.

So we gave the customer $300 next day and $4,800 the second business day but the large deposit hold portion seems to me that is it $100 too much. The final amount that should be held would be $24,801.40.

Total Deposit - $29,901.40
Total Next Day - $300.00
Total Second Day - $4,800.00
Remaining balance to place large hold - $24,801.40

Correct?

First off, what kind of a check was it? That could make a difference on the 2nd day availability if it was a next-day item...

For the 7th day availability, it seems they held $30,001.40 which is more than the deposit of $29,901.40. I agree that your summary would have been the correct way to do it (except the $100 into the savings really could have been whatever you wanted it to be as Reg CC doesn't apply to savings accounts).

I concur with your math and with Adam.

Something to consider - prohibiting split deposits when the deposit item(s) will have delayed availability imposed. We adopted this rule a few years ago. Maybe a dozen times since then has a customer asked to split the deposit of a check that warranted a hold. We would tell the customer they can deposit the check into one account, and as the funds are available to transfer funds to the other account(s).

Thanks for the help. It was a local check, sorry I didn't specify.