{"id":2429,"date":"2021-03-19T16:42:56","date_gmt":"2021-03-19T16:42:56","guid":{"rendered":"https:\/\/albanknews.com\/?p=2429"},"modified":"2021-03-19T16:42:56","modified_gmt":"2021-03-19T16:42:56","slug":"compliance-qa-cashiers-check-reg-cc","status":"publish","type":"post","link":"https:\/\/albanknews.com\/?p=2429","title":{"rendered":"Compliance Q&A: Cashier’s Check & Reg CC"},"content":{"rendered":"

Q<\/strong>: For a cashier’s check, and holds, under Reg. CC, isn\u2019t the bank required to make the first $5,525 available by the next business day?<\/p>\n

A: <\/strong>Actually, Reg. CC allows the bank to combine the large deposit hold with a case-by-case hold. This would make the first $225 available next business day, $5,300 available the 2nd business day, and the remainder on or before the seventh business day.<\/p>\n

If a depositary bank invokes an exception contained in paragraphs (b) through (e) of this section with respect to a check described in \u00a7229.10(c)(1) (i) through (v) or \u00a7229.10(c)(2), it shall make the funds available for withdrawal not later than a reasonable period after the day the funds would have been required to be made available had the check been subject to 229.12.<\/em>\u00a0<\/em><\/p>\n