does not apply to any Money Market or Savings 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 they are
available, you can withdraw the funds in cash and we will use the funds to
pay checks that you have written.
the availability of your deposits, every day is a business day, except
Saturdays, Sundays, and federal holidays. If you make a deposit before our
cut-off time 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 on a day we are not
open, we will consider that the deposit was made on the next business day
we are open.
Our cut-off time
is 6:00 pm each business day at all locations.
Longer Delays May
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
(2) business day after the day of your deposit. The first $200 of your
deposits, 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. 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.
• 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 seventh (7) business day after the day of your
We reserve the
right to hold funds on your account for checks in which you received cash
versus deposited. In addition, you may elect to have funds from another
account held in lieu of deposited funds considered for hold.
Special Rules for
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. 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 ninth business day after the day of