Regulation CC specifies when a financial institution must make the funds from a deposited item available to its customers. All financial institutions are required to have a general availability policy (same day, next day, etc.) and if they want to delay funds beyond that, they must meet certain requirements. A longer delay can often be achieved by either utilizing a case-by-case delay or an exception delay. Case-by-case delays can be placed for any reason but do not give much additional time. Exception delays, on the other hand, provide more time but the financial institution must have a specific reason. Some acceptable reasons for an exception delay include: a large deposit, re-deposited item, the account is repeatedly overdrawn, etc. You need to be careful; however, because the exception delay reasons have some intricacies you need to be aware of.
Kevin explains more in the video.
Published
2023/12/15
