Q: We have a husband and wife who are opening a new joint checking account with our institution. The husband has had an individual account with us for a while, but the wife has never had an account with us. Can we still use the Regulation CC new account exception hold for deposits into the account?
A: The commentary provided below makes clear that if any of the joint account holders do not have an account with the bank, the bank may use the new account hold under § 229.13.
If two customers that each have an established individual account with the bank open a joint account, the joint account is not subject to the new account exception. If one of the customers on the account has no current or recent established account relationship with the bank, however, the joint account is subject to the new account exception, even if the other individual on the account has an established account relationship with the bank.
Comment (B)(1)(b)(vi) to § 229.13: https://www.fdic.gov/regulations/laws/rules/6000-2500.html#fdic6000sup1229ApxE
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