Answer:
Answer by Ken Golliher:
Yes, case by case holds can be applied without stating a reason:
"Did you see how ugly that guy's tie was? Put a five day hold on that nonlocal check he deposited."
Answer:
Answer by Jim Bedsole:
One caveat, however. If you get to the point where you are placing casebycase holds on a large majority of the checks deposited, yet you maintain a funds availability policy that states your policy is to make funds available next day, you could have a problem. But other than that, you are free to place a casebycase holds on these types of items. I can, however, tell you that in many cases these items are not returned within the time parameters allowed by casebycase holds.
First published on BankersOnline.com 7/1/02
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