funds availability policy
Our policy is to make funds from your cash and check deposits available to you on the same business day we receive the deposit. Funds from electronic direct deposits will also be available on the same business day we receive the deposit. Once the funds are available, you can withdraw them in cash and/or we will use them to pay checks you have written.
Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. Our cut off hour is 4 p.m. every business day. If you make a deposit before closing on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after closing or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
Reservation of the Right to Hold In some cases, we will not make all the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. The first $225 of your deposits, however, will be available on the first business day.
If we are not going to make all the funds from your deposit available on the first business day we receive your deposit, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take action after you have left the premises, we will mail you the notice by the end of the day after we receive your deposit.
If you need the funds from a deposit right away, you should ask us when the funds will be available.
Delays May Apply
We may delay your ability to withdraw funds deposited by check into your account for these reasons:
- You deposit checks totaling more than $5,525.00 on any one day.
- You re-deposit a check that has been returned unpaid.
- You have overdrawn your account repeatedly in the last six months.
- We believe a check you deposited will not be paid.
- There is an emergency, such as failure of computer or communications equipment.
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally, be available no later than the second business day after the day of your deposit.
Holds on Other Funds. If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that is already in your account. These funds will be available at the time funds from the check we cashed would have been available if you have deposited it. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.
New Customer Special Rules If you are a new customer, the following special rules apply during the first 30 days your account is open.
Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,525 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state and local government checks will be available on the first business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,525 will not be available until the second business day after the day of your deposit.
Funds from all other check deposits will be available on the tenth business day after the day of your deposit.
Lending, Risk Management Advisor
BSA Officer, Loan Processor, CSR
Loan Processor, CSR
monday - Friday: 8am - 4pm
Saturday & Sunday: closed