Next Day Items
-Generally, funds are made available the next business day, however cash and electronic funds are available the same day.
Next Day Items
-Cash
-Eletronic Funds
-On Us Checks
-Teller’s Official Checks
-Cashier’s Checks
-Certified Check
-Us Treasury Checks
-Us Postal Money Orders
-Federal Reserve Bank Checks
-Federal Home Loan Bank Checks
-Georgia State or local government checks
Local Check items
- All other checks are considered local checks
What types of accounts can a hold be placed on?
DDA or NOW Account
What types of accounts can a hold not be placed on?
MMA, Savings, CD/IRA
Case by Case Hold Next Day Item Funds Avaiability
-Next Business Day
Case by Case Local Check Item Funds Availability
-$275 next business day
New Accounts Next Day Item Funds Availability
$ 6,725 next business day then On US Checks 2nd day other next day items 7th day
New Accounts Local Checks Funds Availability
9th business day
Large Deposits Next Day Item
-First 6,725 next business day
then;
-On US 2nd business day
-Other-next day items 7th business day
Large Deposits Local Item
-275 next business day
-next $5300 2nd business day
-The rest on the 7th business day
-Repeated Overdraft Next Day Items
-Redeposited Item Next Day Items
-Reasonable Cause Next Day Items
-On us 2nd Business Day
-Other next-day items 7th business day
-Repeated Overdraft Local Items
-Redeposited Item Local Items
-Reasonable Cause Local Items
-7th business day
Emergency Condition
-No limit- checks may be held till conditions permit the bank to provide availability of the funds.
New Account Qualification
-account is 30 days old or less
If a customer with a savings or non DDA or NOW Account wants to open a DDA account, is it still a new account and is affected by Reg CC
Yes
Repeated Overdraft Qualification
-Has repeatedly overdrawn during the last six months a repeated overdraft hold may be placed
