11/05/2001
I'm reading Reg CC and noticed it adressed "nonproprietary ATMs" but I'm wondering what the rules are for ATMs owned by the depository bank. Right now we have next day availability for ALL deposits and we're getting BURNED! We looking at changing some of our policies and the main change will come from the ATM side. If a customer makes a $500.00 (cash) deposit in an ATM owned by us how long can we hold the availability of that money? Same question using a $500.00 local check and a $500.00 nonlocal check (seperate deposits). Correct me if I'm wrong but in all of the above examples if the deposits were made at an nonproprietary ATM we could hold the customers fund for up to 5 business days...
11/01/2001
Question: I write corporate platform procedures and would like to know if you have any Regulatory information concerning "Late Return Claims" or "Claim of Delay"?
10/01/2001
Do Internet banking transfers from a Money Market account to a transaction account count in the 6/3 rule?
10/01/2001
Customer deposits checks equaling $700 and request less cash of $300 making the total deposit of $400. Can we place a Reg CC hold on the total $700 in checks used to make up the deposit? If a hold is placed for the $700 and places the customer's available funds into a negative balance can items be returned (we pay off of available funds)? Our practice is to use the casebycase hold availability and make funds available next day. If a customer cashes a non on us check can we place a hold on the customer's account for the amount of the check cashed? If so would it be a Reg CC hold?
10/01/2001
Our commercial officers want to selectively determine who should receive overdraft notices. Can someone direct me to a law or regulation that would provide guidance in this area? Is the bank required (other than by good business practice) to give notice to a customer who is overdrawn if the checks are paid and a fee charged or if the checks are returned and a fee charged?
10/01/2001
I'm interested in the required record retention on check safekeeping (not imaging).
08/06/2001
We now have the computer capability to rebate foreign ATM fees that are charged to our customers that using other bank's ATMs. We will limit the rebate to $10 per month per account. As a small bank with few ATM's, we hope this will provide a competitive advantage. Question from an IRS standpoint, is this taxable income to the account holder that we have to report? It doesn't seem to fall in the category of interest or a bonus.
08/06/2001
Under the GLB Privacy Act this question was posted May a teller continue to record our customers' account number on the reverse side of a check when cashing a third party check for example Our customer Bob has a check made payable to him drawn on Joe Schmoes' account at another bank. When Bob cashes that check our teller records Bobs' account number under his endorsement. .Is this operation covered by Section 216.15(a)(2)(ii)?
08/06/2001
I know we can send out a 30 day notice of closure due to NSF's. This is to accomodate a positive balance closure due to excessive NSF's. My question.....Is this a UCC item and where would I find the information in its entirety?
07/09/2001
We receive mail in deposits for some of our customers from Investment companies,banks, Oil companies andretirement checks from various companies. The envelopes are usually addressed to the bank with the customers name and account number in the mailing address. Is the bank obligated to contact the customer or the company and ask that the customer's name and or the account number be deleted from the mailing address?