Which of the following is an EXCEPTION to the mandatory availability schedules of the Expedited Funds Availability Act?
A)Cashier's checks
B)Teller's checks
C)Electronic payments
D)New accounts

Question

Quizplus · Accepted Answer

There are six major exceptions to the mandatory availability schedules that are designed to safeguard depositary banks against higher risk situations.One of the exceptions is the new account exception,wherein the depositary bank may suspend the availability rules for new accounts and can limit the next-day and second-day availability to the first $5,000 deposited.

Which of the Following Is an EXCEPTION to the Mandatory