arturo’s bank tells him they have placed an eight-day hold on the funds. arturo tells them they cannot do so. is he correct? multiple choice yes, because they must make the funds available on the fifth business day following the day of deposit of the non-local check. yes, because they must make the funds available on the third business day following the day of deposit of the non-local check. no, if one of the checks was over $5,000. no, if one of the checks was over $10,000. yes, because a depositary bank must release funds on the fifth business day after transfer to a federal reserve bank.
