If my deferred presentment location is closed for an extended period of time due to COVID-19, can I hold the customer checks beyond the original maturity date, or must the checks be deposited?
If a location is closed, customer checks cannot be deposited and must be held until the location is reopened. All customers must be notified when the location is reopened and provided 2 business days to redeem the check. Checks not redeemed during this timeframe must then be deposited. An auto-close hold must be placed on these transactions.