Funds Availability Policy
Our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposit will be available on the day we receive your deposit. At that time you can withdraw the funds in cash and we will use the funds to pay checks that 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Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.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. If you make a deposit before 3:00 p.m. 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 3:00 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
Longer delays may apply – In some cases we will not make all of 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. However, the first $225.00 of your deposits will be available on the first business day after we receive your deposit.
If we are not going to make all of the funds from your deposit available on the first business day, 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 this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you need the funds from a deposit right away you should ask when the funds will be available.
In addition, funds you deposit by check may be delayed for a longer period under the following circumstances: (1) we believe a check you deposit will not be paid; (2) you deposit checks totaling more than $5,525.00 on any one day; (3) you redeposit a check that has been returned unpaid; (4) you have overdrawn your account repeatedly in the last six months, or (5) there is an emergency, such as failure of communication or computer 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, no later than the seventh business day after the day of your deposit.
Special rules for new accounts – If you are a new customer, the following special rules will 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 $5,525.00 of a days 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 the deposit meets certain conditions. For example, the checks must be made payable to you. The excess over $5,525.00 will be available on the ninth business day after the day of your deposit. If you do not make the deposit in person to one of our employees, (other than a U.S. Treasury check) the first $5,525.00 will not be available until the second business day after the day of your deposit.
Revised 07.01.2020