12 CFR 229.32 - Depositary bank's responsibility for returned checks.
(a) Acceptance of returned checks. A depositary bank shall accept returned checks and written notices of nonpayment
(1) At a location at which presentment of checks for forward collection is requested by the depositary bank; and
(2) (i) At a branch, head office, or other location consistent with the name and address of the bank in its indorsement on the check;
(ii) If no address appears in the indorsement, at a branch or head office associated with the routing number of the bank in its indorsement on the check;
(iii) If the address in the indorsement is not in the same check processing region as the address associated with the routing number of the bank in its indorsement on the check, at a location consistent with the address in the indorsement and at a branch or head office associated with the routing number in the bank's indorsement; or
(iv) If no routing number or address appears in its indorsement on the check, at any branch or head office of the bank.
(b) Payment. A depositary bank shall pay the returning or paying bank returning the check to it for the amount of the check prior to the close of business on the banking day on which it received the check (“payment date”) by -
(1) Debit to an account of the depositary bank on the books of the returning or paying bank;
(3) Wire transfer; or
(4) Any other form of payment acceptable to the returning or paying bank;
(c) Misrouted returned checks and written notices of nonpayment. If a bank receives a returned check or written notice of nonpayment on the basis that it is the depositary bank, and the bank determines that it is not the depositary bank with respect to the check or notice, it shall either promptly send the returned check or notice to the depositary bank directly or by means of a returning bank agreeing to handle the returned check expeditiously under § 229.31(a), or send the check or notice back to the bank from which it was received.
(d) Charges. A depositary bank may not impose a charge for accepting and paying checks being returned to it.