How can businesses meet guidelines for reopening while still turning a profit? Whether your challenge needs a quick fix or a complex solution, our team is here to help. Talk to one of our technology experts today. Call Sign In Cart 0 Search for:. What is Reg CC? Blog Post. General : This introductory section describes which federal banking regulatory agencies are responsible for maintaining Reg CC compliance, how key terms are defined in the regulations, and what the purpose of the regulations are.
A vailability of Funds and Disclosure of Funds Availability Policies : This section spells out exactly when banks must make funds available to consumers, when they must start accruing interest on interest-bearing accounts, and how and when banks must disclose fund availability to their customers.
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I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Monetary Policy Federal Reserve. What Is Regulation CC? Regulation CC requires financial institutions to provide account holders with disclosures that indicate when deposited funds will be available for withdrawal. Regulation CC addressed long hold times that customers were facing after they had deposited endorsed checks to banks, including implementing maximum hold times. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.
This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Same-day funds is a term for money that can be transferred or withdrawn the same day that it is deposited into the recipient's bank account.
What Is Regulation DD? Regulation DD is a federal policy that requires lenders to provide certain information about fees and interest when opening an account for a customer.
Business days are defined as Mondays through Fridays except federal holidays. A banking day is any business day up to the bank's cut-off hour when your institution is open for substantially all of its banking activities. All references to the number of days to funds availability in this guide indicate maximum time limits for making funds available; your institution may provide earlier availability of funds if it chooses and may extend the time when funds are available up to periods set by Regulation CC on a case-by-case basis.
The following types of deposits must be made available on the first business day following the banking day of deposit "next-day availability" : Cash deposited in person to one of your employees. Electronic payments received by your institution for deposit in an account--An electronic payment a wire transfer or an ACH credit is considered received deposited when your institution has received both payment in collected funds and information on the account and the amount to be credited. Under other rules, funds for most electronic deposits are made available on the day of deposit.
Treasury checks deposited in person to one of your employees or at an ATM owned by your institution a "proprietary" ATM and into an account held by a payee of the check. Postal Service money orders deposited in person to one of your employees and into an account held by a payee of the check. Federal Reserve Bank and Federal Home Loan Bank checks deposited in person to one of your employees and into an account held by a payee of the check. State or local government checks deposited in person to one of your employees and into an account held by a payee of the check, if your institution is in the same state as the payor of the check.
Note: If the customer desires next-day availability of funds from these checks, you may require use of a special deposit slip. Cashier's, certified, or teller's checks deposited in person to one of your employees and into an account held by a payee of the check. Checks drawn on an account held by your institution "on-us checks" deposited in person to one of your employees or at on-premises ATMs or night depositories. Exceptions: When deposits of types 1, 4, 5, 6, and 7 are not made in person for example, when they are made at one of your ATMs , the funds must be made available by the second business day.
Deposits, cash or check, made at an ATM that you do not own a "nonproprietary" ATM must be made available by the fifth business day.
For checks of types not discussed above, funds generally must be made available in accordance with a schedule specified in Regulation CC. That schedule differentiates between "local" or "nonlocal" checks. Since there is now only one Reserve Bank check-processing region, however, there are no longer any "nonlocal" checks for purposes of Regulation CC. Funds from local checks must be made available by the second business day following the day of deposit.
There are minor exceptions involving, for example, certain checks deposited outside the continental United States and cash withdrawals of the proceeds of certain checks.
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