Funds Availability
Which of the following is an exception to the New Membership hold?
If the new member deposits a payroll check
If the new member wants to apply for a loan
If the new member was previously a joint owner for longer than 30 days
If the new member is opening a CD
Mr. Member is depositing a treasury check for $12,500. His membership has been open for 28 days. What is the hold on his check?
$12,500 on 5 business days
$12,500 on 1 business day
$5525 on 1 business day and the remaining on 2 business day
$5525 on 1 business day and the remaining on 5 business day
True or False: It is required to select a Extended Hold reason when checks are placed on a 5 business day hold.
True
False
What type of check is this?
Next Day
Non Next Day
No hold item
True or False: Regulation CC requires a written notice (ex. receipt) to be provided to the member when a check is placed on a 5 day hold.
True
False
Mrs. Member presents a $6000 personal check. She would like $2000 to go toward her credit card and $4000 to her savings. What is the appropriate hold for the check?
No float on $2000; 2 day float for $4000
2 day float on $6000
No float on $6000
No float on $2000; 1 day float for $4000
Mr. Member presents two personal checks, one for $500 and another for $600. He wants to deposit the $500 check into his checking and the $600 check into his savings. He would also like both transactions on one receipt. What is the appropriate hold for this transaction?
Both checks on 1 day float
Both checks on 2 day float
$500 check on 1 day float; $600 check on 2 day float
No float on both
True or False: Navy federal does not accept these types of checks.
True
False
Which of the following is not a next day item?
US Treasury Checks
US postal money order
Local Government Checks
NFCU Heloc Checks
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