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Funds Availability Policy: Sign On ATM Machine

Answered by: 
David A. Dickinson

Question: 
Our Funds Availability Policy states that a deposit at an automated teller machine that is owned and operated by the bank before 2:00 PM on a business day that we are open, we will consider the deposit made on that day. Do we need to post a sign on the ATM that state that.
Answer: 

Refer to §229.18(c):
(c) Automated teller machines. (1) A depositary bank shall post or provide a notice at each ATM location that funds deposited in the ATM may not be available for immediate withdrawal. (2) A depositary bank that operates an off-premises ATM from which deposits are removed not more than two times each week, as described in Sec. 229.19(a)(4), shall disclose at or on the ATM the days on which deposits made at the ATM will be considered received.

First published on 11/10/2014

Filed under: 
Compliance
Filed under compliance as: 
Reg. CC

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