Answer:
Section 229.18 of Reg CC covers this topic. The displayed Funds Availability notice is required at locations where employees accept consumer deposits. The commentary further clarifies that it need not be posted at every teller window, but can be posted in a place where consumers seeking to make deposits are likely to see it. It is not required at any drivethrough teller windows nor is it required at night depository locations.
Note that although Reg CC applies to both consumer and nonconsumer accounts, the Funds Availability notice in only required to be posted at locations where consumer deposits are accepted.
For ATMs, slightly different rules apply. For all ATMs that accept deposits, you must post a notice that funds deposited in the ATM may not be available for immediate withdrawal. This can be posted on a sign attached to the ATM, on the screen, or on the deposit envelopes, but must be provided before the deposit is made. Therefore having it print on the transaction receipt or appear on the screen after the deposit is made is not acceptable. If the ATM is offpremises and deposits are not removed more than 2 times per week, you must also disclose at or on the ATM the days on which deposits made at the ATM will be considered received.
First published on BankersOnline.com 6/04/01
print
share