What action should a teller take when there is doubt about the collectability of presented funds?

When a teller has doubts about the collectability of presented funds, placing a hold on the funds is the appropriate action. This process ensures that the bank can verify the legitimacy and availability of the funds before making them accessible to the customer. A hold helps protect the institution from potential losses associated with a check or payment that might bounce or be fraudulent. By temporarily preventing the immediate access to these funds, the bank maintains its financial integrity and minimizes risk. This procedure is a standard practice in banking to safeguard against potential issues with funds that may not clear in a timely manner.

The other options do not adequately address the concern of collectability. Processing the deposit without verification could expose the bank to losses if the funds are not valid. Issuing a withdrawal in such situations could also lead to complications if the presented funds are later found to be uncollectable. Consulting with a supervisor could be a reasonable step, but the direct action of placing a hold gives a more immediate safeguard while further investigation or verification occurs.