/ Banking Management Policies and Procedures Manual
These Banking Procedures will assist retail banking facilities in preparing a Standard Operating Procedures (SOP) Manual for their small to medium-size banks. It can be customized to fit your bank staff and operations. The content also supplements Bizmanualz core procedures manuals for Accounting and Human Resources. The Banking Procedures cover the key functions of retail banking including demand deposit transactions, credit card ATM processing, teller operations and wire transfers
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10 Banking Policies and Procedures
10 Corresponding Forms
“How To” Manual Preparation Guide
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Sample Policy from Banking Management Policies and Procedures

Document ID
BNK 103 / Title
FUNDS AVAILABILITY AND STOP PAYMENTS / Print Date
mm/dd/yyyy
Revision
0.0 / Prepared By
Preparer’s Name/Title / Date Prepared
mm/dd/yyyy
Effective Date
mm/dd/yyyy / Reviewed By
Reviewer’s Name/Title / Date Reviewed
mm/dd/yyyy
Approved By
Final Approver’s Name/Title / Date Approved
mm/dd/yyyy

Title:BNK103 FUNDS AVAILABILITY AND STOP PAYMENTS

Policy:To provide funds in the form of cash deposits, wires, and ABC Bank checks to the customer in a timely manner, and to provide the customer the option of stopping payment of a check at the customer’s request.

Purpose:To outline the guidelines for determining the availability of funds, and explain the procedures for stopping payment of a check.

Scope:Funds Availability guidelines apply only to basic checking and savings accounts and only to check deposits or items payable as cash items. Other accounts such as Money Market Accounts, Certificates of Deposit, Individual Retirement Accounts, etc., may have more specific guidelines, which are to be provided to the customer at the time of opening an account. Stop payments apply to checking accounts.

Definition:Business days include each day the bank is open for business. Saturdays, Sundays, and holidays are not considered business days.

Procedure:

1.0FUNDS AVAILABILITY

1.1The first business day after the day funds in the form of cash, wires, ABC Bank checks, and most other checks are deposited, they will be made available to the customer for withdrawal in most instances. Automatic or direct deposits will be available the day they are received.

1.2The date of deposit will be the same day of a deposit received at the bank before closing, at an Automated Teller Machine owned or operated by ABC Bank prior to 3:00 p.m., or in the night depository before the posted cut-off time. If, in any circumstances, the deposit is other than these, the date of deposit will be the following business day.

1.3In some circumstances (see below) the customer’s deposit may not be available until a later date. This will necessitate a hold being placed on the funds. The customer should be immediately notified if the funds are not available. If the customer has already left the bank, he or she will need to be mailed a notice stating the reason the funds are being delayed, the amount of funds not available, and the date the delay will be released.

Examples of when the funds may not be immediately available include:

  • The bank has reasonable cause to believe a check deposited by the customer will not be paid
  • The total amount of checks deposited to a customer’s account is more than $3,500
  • A check returned unpaid is redeposited
  • The account has a history of excessive overdrafts

1.4Unexpected emergencies, such as temporary communication or computer failures, may also delay the availability of funds.

1.5Complete BNK103 Ex1 Hold Card, if a hold needs to be placed on the account.

2.0STOP PAYMENTS

2.1Stop payments are a service provided to the customer in the event the customer does not want a check he or she has written to be paid. It is important to place the stop payment information on the account as quickly as possible to prevent losses.

2.2Inform the customer that his or account will be charged $15.00 for this service.

2.4The following information must be obtained from the customer and placed on BNK103 Ex 2 Stop Payment Form:

  • Customer’s name, address, and a telephone number where the customer can be reached during banking hours.
  • Account number
  • Check number
  • Date of the check
  • Who the check is made payable to
  • Amount of the check
  • Reason for the stop payment

2.5This information needs to be placed on the account and given to the bookkeepers.

2.6The customer will need to sign the stop payment form within ten business days. The stop payment will be placed on the account for six months.

2.7If the customer would like to release the stop payment, they need to come in the bank and sign a release. It is important that the customer understands that by signing the release, he or she has agreed to allow the check to be paid.

Revision History:

Revision / Date / Description of changes / Requested By
0 / mm/dd/yyyy / Initial Release

]BNK103 Ex1 HOLD CARD

Account Name:Account Number:

Amount of hold:$ Release Date:

Reason for hold:

Other Information:

Employee’s SignatureApproving Supervisor’s Signature

DateTime

NOTE: Your account will be charged $15.00 for this service.


BNK103 Ex2 STOP PAYMENT FORM

Customer’s Name:Account Number:

Amount:$ Check Number:

Check made payable to:

Check date:Release date:

Reason for stop payment:

Reissued?  YES  NOIf so, check number and date:

Other Information:

Customer’s SignatureDate

Information placed on customer’s account?  YES  NO

Employee’s signatureApproving Supervisor’s Signature

DateTime

Banking ManagementPolicies and Procedures Manual:

10 Prewritten Policies and Procedures

  1. ATM Card or VISA Debit Card-
Line of Credit
  1. Foreign Currency
  2. Funds Availability
  3. Incoming and Outgoing Collections
  4. Lost Stolen Checks, ATM Cards and NS Funds
/
  1. Opening and Closing Accounts
  2. Teller Transactions
  3. Wire Transfers
  4. Bank Security
  5. Guard Force Management

10Prewritten Forms and Records

  1. Hold Card
  2. Stop Payment Form
  3. Lost/Stolen Form
  4. Closing Form
  5. Photocopy Request Form
/
  1. Change of Address Form
  2. Wire Transfer Form
  3. Recurring Wire Transfer Form
  4. Key Issue Policy
  5. Special Incident Report Form