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Requirement on Timely Notification OD/NSF

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Question: 
NSF & OD notices are not available until 2pm, but our post office closes at noon for Christmas Eve. What is our requirement on timely notification of OD or NSF?
Answer: 

There is no federal requirement to send an overdraft notice. Thus, there are no stipulated timing or content requirements for a notice you are not required to send. You are allowed to operate under the fantasy that it was the consumer who wrote the check and, thus, the consumer should know he is overdrawn without being told by you.

First published on BankersOnline.com 1/14/13

First published on 01/14/2013

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