The Funds Availability Policy Notice is a customizable notification poster for banks. The notice states that, in accordance with Federal Regulation CC, the bank must inform customers of its policy regarding the customer’s rights to withdraw funds against deposits made to any transaction account at the posted institution.
Regulation CC implements the federal Expedited Funds Availability Act (EFAA), which requires banks to make funds deposited in transaction accounts available to customers and pay interest on interest-bearing accounts within specified time frames. Banks are also required to disclose their funds-availability policies to their customers.
The Funds Availability Policy Notice provides a blank space for banks to insert an individualized policy statement. The notice must specifically state the availability periods for the various types of deposits that may be made to consumer accounts.
To order a customized version of the Funds Availability Policy Notice with your policy statement printed on the notice, contact CPC by email, chat, or phone.
The Funds Availability Policy Notice must be clearly and conspicuously posted at locations where employees accept consumer deposits and at ATMs. (12 C.F.R. §229.15 (a)). The notice does not need to be posted at each teller window, but it must be posted in a place where consumers seeking to make deposits are likely to see it before making their deposits.
Banks subject to this requirement include an insured bank, a mutual savings bank, a savings bank, an insured credit union, a member bank, a savings association, a Federal Home Loan member bank, and an agency or branch of a foreign bank.