Answer:
That account is overdrawn just the same as it would be if the deposit had not been made. The customer has even more notice if you give him the hold when the deposit was made.
First published on BankersOnline.com 5/12/03
"Notice of Hold" & Collection Of Return Item Fees
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Question:
If a customer is given the "Notice of Hold" at the time of their deposit and we return check based on uncollected funds, can we assess fees?
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