Funds Availability Disclosure
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, or we will use the funds to pay checks that you have written.
We believe a check you deposit will not be paid.
You deposit checks totaling more than $5,525 on any one day.
You redeposit a check that has been previously 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 seventh business day after the day of the deposit.
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.
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.
The first $5,525 from a deposit of U.S. Treasury checks will be available on the first business day after the day of your deposit. The excess over $5,525 will be available on the ninth business day after the day of your deposit. Funds from wire transfers into your account will be available on the first business day after we receive the transfer.
Funds from deposits of cash and the first $5,525 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s and state and local government checks will be available on the first business day after the day of the deposit if the deposit meets certain conditions. For example, the check must be payable to you. The excess of $5,525 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, the first $5,525 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.