New Account Hold
The number of days a new account hold is placed
9 business days
How much is available the next business for a "other check" item?
$225 Next Business Day
True or false:
"Other check" items can be placed on a case by case hold?
Non-Customer comes into your institution to open a new account. They present a personal check from another institution in the amount of $13,500.00. What type of hold is this and for how many days?
New Account Hold
9 business days
A case by case hold has been placed for a personal check item. When will the funds be available?
$225 next business day
Remainder on the 2nd business day
Name 3 types of next day items and how much would be available the next business day
NEXT DAY ITEMS: Cash, Electronic Payments (ACH / Wire), Cashier's Checks, Official Checks, Certified Checks, On Us Checks, U.S. Treasury Checks, U.S. Postal Money Orders, Federal Reserve Bank Checks, Federal Home Loan Bank Checks, (Your) State or Local Gov. Checks
$5,525 available the next business day
True or False:
A customer brings a check for $5,000. A large hold must be placed.
False
An "on us" check has been deposited and placed on a reasonable cause hold for redeposited item, when will funds be available?
2nd business day
Non-Customer comes into your institution to open a new account. They present a Cashier’s Check in the amount of $19,450.00 to use for their opening funds. What type of hold is this and when will funds be available?
New Account Hold
$5,525 next business day
Remainder of 9th business day
A customer is re-depositing a personal check for $8,000. What type of hold is this and when will the funds be available?
Redeposited item
7 business days
When can you place a new account hold?
NEW CIF has been created
The number of days a large deposit hold is placed
7 business days
An "other check" item has been deposited and placed on reasonable cause hold for repeated overdraft, when will the funds be available?
7th business day
A customer has a $6,000 personal check and their account has only been open for 25 days. What type of hold is this and for how many days?
New account hold
9 business days
Customer deposits a cashier's check for $15,000. A case by case hold and a large deposit hold is placed. Is a manager able to sign off on this?
No. You can only place one type of hold.
When can a new account hold NOT be placed for a large deposit?
*If EACH customer on the account has
had another account at the depository
bank for at least 30 calendar days. A
New Account Hold type may NOT be
placed. Please use Case by Case or
Large Deposit Hold type.
$225 is available the next business day for a "other check" item, when is the next availability of funds and how much?
2nd business day / $5,300
$225 the next business day and the remainder on the 2nd business day
A customer comes to deposit a $10,000 on us check, they have had repeated overdrafts. What type of hold is this and for how many days?
Reasonable cause (repeated overdraft)
2 business days
Customer comes in with a personal check in the amount of $2,750.00. They explain that they have sold some furniture to a family member and this is the payment. The customer keeps an average of $500.00 in their account and have no NSF’s. What type of hold is placed and when will the funds be available?
Case by Case Hold
$225 next business day
Remainder on the 2nd business day
True or False:
"Other checks" have some funds available the next business day
False: "other checks" do not have any funds available the next business day. All funds will be available on the 9th business day.
An "on us" check in the amount of $10,000 is placed on a large hold. $5,525 is placed on a next business day hold, when will the rest of the funds be available?
On us checks are available the 2nd business day
A cashier's check has been placed on a reasonable cause hold for repeated overdraft, when will the funds be available?
7th business day
A customer deposits a $50,000 personal check into their account. What kind of hold is this and when will the funds be available?
Large deposit hold
$225 next business day
$5,300 2nd business day
Remainder on the 7th business day
A customer deposits a certified check for $20,000 in their account. What type of hold is this and when will the funds be available?
Large deposit hold
$5,525 next business day
Remainder 7th business day