Your ability to withdraw funds
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 also 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.
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 our cut-off time 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 our cut-off time or 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: 3:00pm
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 business day after
the day of your deposit. Depending on the type of check that
you deposit, funds may not be available until the FIFTH
business day after the day of your deposit. However, the
first $100 of your deposits will be available on the
business day of your deposit.
If we are not going to make all of the funds from your
deposit available on the business day of the 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 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 communications 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. 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 business 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
NINTH BUSINESS day after the day of your deposit.
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