Exceptions.

CFR · 2024-01-01 · US · Title 12

(a) (1) A deposit in a new account— (i) Is subject to the requirements of § 229.10 (a) and (b) to make funds from deposits by cash and electronic payments available for withdrawal on the business day following the banking day of deposit or receipt; (ii) Is subject to the requirements of § 229.10(c)(1) (i) through (v) and § 229.10(c)(2) only with respect to the first $5,525 of funds deposited on any one banking day; but the amount of the deposit in excess of $5,525 shall be available for withdrawal not later than the ninth business day following the banking day on which funds are deposited; and (iii) Is not subject to the availability requirements of §§ 229.10(c)(1)(vi) and (vii) and 229.12. (2) An account is considered a new account during the first 30 calendar days after the account is established. An account is not considered a new account if each customer on the account has had, within 30 calendar days before the account is established, another account at the depositary bank for at least 30 calendar days. (b) (c) (1) To a check that has been returned due to a missing indorsement and redeposited after the missing indorsement has been obtained, if the reason for return indication on the check states that it was returned due to a missing indorsement; or (2) To a check that has been returned because it was post dated, if the reason for return indicated on the check states that it was returned because it was post dated, and if the check is no longer postdated when redeposited.

official document · source cfr-2024 · id 12:§ 229.13