Answer:
There is a provision in Regulation CC 229.12(d) ("Time period adjustment for withdrawal by cash or similar means") that allows a bank that has made appropriate account opening disclosures to delay by one day a depositor's cash access to funds deposited by check or at an ATM. It does not apply to checks for which next-day access is required under 229.10.
It's easiest to explain in an example: Assume that your customer deposits on Monday a $2,000 check that is not a next-day check, and that you've made appropriate account disclosures to be able to delay availability of other than next-day checks until the second business day after deposit, as well as a disclosure similar to Model Clause C-10. Under the $200 next-day requirement you will provide cash access to $200 by opening of business or 9 a.m., whichever is first, on Tuesday (the next business day after the banking day of deposit).
You will provide in-clearing access (payment of in-clearing checks and ACH items) to the remaining $1,800 of the deposit beginning by opening of business on Wednesday (the second business day following the banking day of deposit) but you can block cash access (which includes cash withdrawals and cashing of checks across the teller counter, ATM withdrawals and POS purchases, check certification and wire transfers from those funds) until Wednesday afternoon at 5 p.m., when you have to provide cash access to another $400 of the deposited amount.
Full access has to be provided by opening of business on Thursday.
First published on BankersOnline.com 9/17/12
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