Your
Ability to Withdraw Funds. Our policy is to
make funds from your deposits available to you on the
first business day after 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to you, and you have withdrawn the funds, you are still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
account.
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 that we are open. Your electronic
direct deposits will be available on the day the bank
receives the deposit.
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 upon 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 may be available on the first
business day after the day of your deposit.
If
we are not going to make all of the funds from your
deposit available on the first business day after we
receive your deposit, we will notify you at the time
you make the 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 bank, we will
mail you the notice by the first business 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.
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In
addition, funds that you deposit by check may be delayed
for a longer period under the following circumstances:
- We
believe a check that 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 within the bank, such as a failure of
communications or computer equipment.
- You
request transfer of uncollected funds.
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 into 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 examp1e, 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 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.
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