Deposit Delay Institution Options |
  
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Navigation: Deposit Screens > Account Information Screen Group > Funds Holds Screen > Uncollected Funds and Deposit Delay tab > Deposit Delay field group >
Deposit Delay Institution Options |
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The following institution options must be enabled for Deposit Delay to work properly on the customer account. A work order must be submitted to GOLDPoint Systems to activate these options.
Institution Option Code |
Description |
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Delay deposit on amount of deposit. If this option is enabled, the total amount of the deposit will be delayed, not just the check-in amount. Even if the teller enters a different amount from the total amount of the check in the Local Amount or Non-Local Amount fields, the entire amount of the transaction will be held for the specified number of days. |
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Use business days. If this option is enabled, only weekdays are used to determine the expiration date on holds. If this option is not enabled, weekend days will be used to determine expiration dates. For example, if the funds hold is set up for three days, and the check is deposited on a Friday, the deposited funds are available by Monday if this option is not enabled. If it is, the funds are not available until Wednesday. |
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Number of days deposit delay on Next Day checks. This option determines how many days your institution holds a Local check before the funds are available. |
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Number of days deposit delay on Second Day checks. This option determines how many days your institution holds a Non-Local check before the funds are available. |
In order to access deposit delay options, the Account Uses Deposit Delay? field must be marked. When that field is marked, no interest is calculated for check deposit, based on the number of days your institution uses for Next Day (Local) or Second Day (Non-Local) checks.