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HomeFinancial CodeDiv. 1.1Ch. 12Art. 2§ 1421 Check Withdrawal Availability Disclosure

§ 1421 Check Withdrawal Availability Disclosure

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 1421 Check Withdrawal Availability Disclosure

This law says banks must tell you upfront how long you have to wait to use money you deposit by check. They have to give you this info before you open an account and remind you every time you deposit a check.

Key Takeaways

  • •Banks must explain their check-holding rules before you open an account.
  • •Every time you deposit a check, the bank must remind you if you can’t use the money right away.
  • •The bank has to put this info on deposit slips or give you a clear notice.

Example

You deposit a $500 check at the bank.

The bank must tell you right away if you can use that $500 immediately or if you have to wait a few days. They have to print this rule on your deposit slip or give you a note about it.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 1421 Check Withdrawal Availability Disclosure

(a) Prior to opening a deposit account a depository institution shall provide a written disclosure to the potential customer of its general policy with respect to when a customer may withdraw funds deposited by check or similar instrument into the customer’s deposit account. (b) A depository institution shall furnish its customers preprinted deposit slips, envelopes for automatic teller machine deposits, or other individual notice bearing a conspicuous summary statement of its general policy with respect to when a customer may withdraw funds deposited by check or similar instrument into the customer’s deposit account; and, in the case of a particular deposit by check or similar instrument into a deposit account for which funds may not be immediately available for withdrawal, provide specific notice of the time the customer may withdraw such funds. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Last verified: January 11, 2026

Key Terms

depository institutionwritten disclosurewithdraw fundscheck or similar instrumentpreprinted deposit slipsconspicuous summary statementspecific notice

Related Statutes

  • § 1422 Interest On Deposited Checks
  • § 1424 Customer Withdrawal Time Limits
  • § 1425 Customer Funds Availability Period
  • § 1428 Withdrawal Period Exceptions
  • § 1420 Bank And Credit Union Definitions

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 1421.
View Official Source