04/16/2023
We had a customer deposit a Cashier's Check for $92,000. He called the automated number listed on the check and it says the check was paid on Feb. 15. He now wants to wire the money out. We are concerned the check could still come back as fraudulent. What are our time frames for allowing complete use of the funds?
03/04/2013
In 1910 the American Bankers Association set up the routing number system.
11/19/2012
I would like to know more about Expedited Funds Availability Act.
04/16/2012
Foreign check deposited to account on 02-13-12 with no endorsement. Deposit made by third party. Now, customer requests wire transfer on 02-14-12. Can we place exception hold for missing endorsement or uncollected funds? We know we can place case by case. Can we place hold on entire deposit amount?
03/21/2011
Does Reg CC apply to Canadian Postal Money Orders? We have a customer wishing to deposit a Canadian Postal Money Order and are trying to determine how long we are able to place a hold on these funds.
12/06/2010
Can a hold be placed on a postal money order?
08/30/2010
There are different acronyms that banks have within their spray which they consider an endorsement. We recently cut a cashier's check to a credit card company on behalf of a customer, and we returned it for missing endorsement. Within the banks 'spray' it reads "PEG" Citibank, another acronym we've seen is "BOYD". Are these proper endorsements?
06/01/2005
Question: Can we use the same form when we put a hold on a savings account deposit that we use on our checking accounts?
03/09/2005
Dealing With Unauthorized Drafts:
Fed Proposes Reg. CC Solution
John S. Burnett, Associate Editor, BankersOnline.com
01/01/2005
In letters sent from Congress to banking associations and officials, legislators cited concerns about check-hold times and providing availability more quickly to deposits.