AboutRyan White Expertise I can answer any questions about banks, policies, regulations, or electronic services. As well as general banking questions, regarding deposit products and miscellaneous services, for both consumer and business banking. I am not able to answer lending questions, this includes credit cards.
Experience Five years in teller, new accounts, call center, and branch operations.
Education/Credentials BS Business Management
Various regulatory training
Expert: Ryan White Date: 7/5/2008 Subject: Cashing cheques (of issuing bank) at drive up teller
Question Hello,
I am curious as to how UCC § 3-502 effects cashing cheques at a drive up
teller. The cheque in question was being presented to the bank, who's
customer wrote me the cheque. This was done on a Saturday, and I had
presented the both the cheque, and my ID.
They indicated that the funds were available, however they cannot release
more than $1000 at the drive up teller. This bank has a lobby, but that
portion of the bank is closed on Saturday. The teller told me that if I had an
account there, they would be able to give me $1000, and the rest would have
to be deposited into my account.
I am now waiting until Monday to handle this transaction, both wasting my
own time, and money (in fuel).
Answer Cash limits in the drive up are not regulated so each bank has a their own policies.
Since you are able to cash the check on Monday they are only delaying your ability to receive payment by one business day...and this is most likely legal if this policy is disclosed. It would be a similar situation if you went into the lobby to cash a $500,000 check. The bank probably wold not have the cash on hand and would need to delay cashing the check until they could order more cash. It is very possible, but unlikely, that the drive up tellers have limited access to the branch vault.
I would talk to a manager about your situation. Seeing that the lobby was not open it was poor customer service to not allow you to cash the check. If you are not happy with their answer you can always visit the FDIC and file a complaint.
