Reg CC - Customer Notice of Hold

Posted By: phantom

Reg CC - Customer Notice of Hold - 01/29/08 06:10 PM

What are the required components to disclose on the customer Notice of Hold form for Reg CC? Is amount of deposit required?
Posted By: 'Lil Freak!

Re: Reg CC - Customer Notice of Hold - 01/29/08 09:41 PM

For case-by-case delays you only need to disclose the amount of the deposit that is being delayed (§229.16)
Posted By: rlcarey

Re: Reg CC - Customer Notice of Hold - 01/30/08 02:37 AM

Actually, there are four required disclosures:

The notice shall include the following information--
(A) A number or code, which need not exceed four digits, that identifies the customer’s account.
(B) The date of the deposit;
(C) The amount of the deposit that is being delayed; and
(D) The day the funds will be available for withdrawal.