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Large check return notices

Answered by: 

Question: 
Does my bank still need to send a large item return notice to the depositary bank?
Answer: 

Yes, but the dollar trigger for that requirement was doubled to $5,000, and the timing has been changed a bit. The notice should normally be received by the depositary bank by 2 p.m. (its local time) on the second business day following the banking day on which the check was presented to the paying bank. Notice can be made by the returned check, a writing, telephone or other reasonable means.

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First published on 05/16/2021

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