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Reg CC and Cashier's Checks

04/16/2023

We had a customer deposit a Cashier's Check for $92,000. He called the automated number listed on the check and it says the check was paid on Feb. 15. He now wants to wire the money out. We are concerned the check could still come back as fraudulent. What are our time frames for allowing complete use of the funds?

Place Hold on Entire Deposit Amount?

04/16/2012

Foreign check deposited to account on 02-13-12 with no endorsement. Deposit made by third party. Now, customer requests wire transfer on 02-14-12. Can we place exception hold for missing endorsement or uncollected funds? We know we can place case by case. Can we place hold on entire deposit amount?

Reg CC and Canadian Postal Money Orders

03/21/2011

Does Reg CC apply to Canadian Postal Money Orders? We have a customer wishing to deposit a Canadian Postal Money Order and are trying to determine how long we are able to place a hold on these funds.

Endorsement Acronyms

08/30/2010

There are different acronyms that banks have within their spray which they consider an endorsement. We recently cut a cashier's check to a credit card company on behalf of a customer, and we returned it for missing endorsement. Within the banks 'spray' it reads "PEG" Citibank, another acronym we've seen is "BOYD". Are these proper endorsements?

Hold Forms for Savings Accounts

06/01/2005

Question: Can we use the same form when we put a hold on a savings account deposit that we use on our checking accounts?

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Calculating a customer's IRA RMD

01/19/2025

We have a customer who made an IRA deposit for the previous year. When calculating her RMD, our system is including this deposit in her RMD amount even though it was not her ending balance as of December 31st. We don't believe this to be correct as everything we find says the RMD is based on the end-of-year balance. Are we correct or should we include the deposit she made after 12-31 in calculating her RMD amount?

Terms and Conditions for Online Banking

01/19/2025

We need to update our online banking terms and conditions. Is there anywhere that we can get one that is created already or a place where we can find a template?

Using Counteroffers and Denials Effectively

01/12/2025

While scrubbing files, I found a loan request for a HELOC that did not close due to the house being listed for sale. We can't take collateral that is for sale. The officer started a new request with a different loan product that closed. I believe the first request should have been denied when we found out the house was listed for sale. However, it is past our 30 day window and we also have to report for HMDA. How do we handle this?

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