Barring an agreement to the contrary, earnest money received in the office where the escrow records are maintained MUST be deposited into the proper account no later than the close of business:

Depositing earnest money on the day of receipt may not always be feasible due to operational constraints or timing issues. While expediting the process is ideal, regulations typically allow for a more extended timeframe to accommodate various circumstances and ensure proper procedures are followed.

Although depositing earnest money within one business day is a prompt action, it does not meet the regulatory requirement that allows up to three business days. This option may create undue pressure on the parties involved and does not reflect the standards upheld in many real estate transactions.

The distinction between calendar days and business days is critical in this context. While three calendar days may seem sufficient, it does not align with the requirement specifying "business days," which excludes weekends and holidays, potentially extending the actual timeline for deposit beyond what is allowed.