FUNDS
AVAILABILITY POLICY
This policy statement applies to all
deposit accounts.
Our policy is to make funds from your
cash and check deposits available to you
on the first business day after the day
we receive your deposit.
Electronic direct deposits will be
available on the day we receive the
deposit. Once the
funds are available, you can withdraw
them 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you have withdrawn the funds, you are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 6:00PM on a business day that we
are open, we will consider that day to
be the day of your deposit.
If you make a deposit at an ATM
before 2:00PM 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 at an ATM
after 2:00PM or on a day that we are not
open, we will consider that the deposit
was made on the next business day we are
open.
If we cash a check for you that is
drawn on another bank, we may withhold
the availability of a corresponding
amount of funds that are already in your
account. Those funds will be
available at the time funds from the
check we cashed would have been
available if you had deposited it.
If we accept for deposit a check that
is drawn on another bank, 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.
LONGER DELAYS MAY
APPLY
Case-by-case
delays. 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 fourth business day
after the day of your deposit. The
first $100 of your deposit, however,
may be available on the first business
day.
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 will need the
funds from a deposit right away, you
should ask us when the funds will be
available.
Safeguard exceptions.
In addition, funds you deposit by check
may be delayed for a longer period under
the following circumstances:
-
we believe a check
you deposit will not be paid;
-
you deposit checks
totaling more than $5,000 on any one
day;
-
you redeposit a
check that has been returned unpaid;
-
you have overdrawn
your account repeatedly in the last
six months; and/or
-
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 eleventh
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 $5,000 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 the
deposit meets certain conditions.
For example, the checks must be payable
to you (and you may have to use a
special deposit slip). The excess
over $5,000 will be available on the
ninth 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 $5,000 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. Back
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