Your Ability to Withdraw Funds

This disclosure applies to deposits made at a branch, ATM or mobile device. Our policy is to delay the availability of funds from your transit check deposits. During the delay, you may not withdraw the funds and we will not use the funds to pay checks that you have written.

Determining the Availability of a Deposit

The length of the delay is counted in business days from the day of the deposit. Every day is a business day except Saturdays, Sundays and federal holidays. If you make a deposit before closing 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 closing or on a day we are not open, we will consider that the deposit was made on the next business day we are open. For determining the availability of deposits made at our night depository, we will consider that day the deposit is removed (and its contents availability to us for processing) as the day of your deposit. The length of the delay varies depending on the type of deposit and is explained below.

Same Day Availability

Funds from the following deposits are available on the day we receive your deposit:

  • Cash
  • Funds from electronic direct deposits to your account
  • Wire transfers
  • Checks drawn on us (per available balance)

Next Day Availability

If you make deposits in person to one of our employees, funds from the following deposits are available on the business day after the day of your deposit:

  • US Treasury checks (next day availability regardless of method of deposit)
  • U.S. Postal money orders
  • State and local government checks that are payable to you
  • Cashier’s, certified, and tellers checks that are payable to you
  • Federal Reserve Bank Checks and Federal Home Loan Bank Checks.

If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available on the 2nd business day after the day we receive your deposit.

Other Check Deposits

For transit checks, the length of the delay varies depending on the sum total deposited. Any deposit exceeding the available funds in your account are subject to a hold. For example, if you deposit a transit check for $2,000.00 on a Monday, the first $200.00 of the deposit will be available immediately. The remaining funds will be available on Wednesday, the 2nd business day after the day of your deposit.

Longer Days May Apply

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 $5,000.00 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 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 7th business day after the day of the deposit.

Special Rules for New Accounts

If you are a new customer, special rules will apply during the first 30 days your account is open. Refer to the Account Disclosure provided at the time of account opening for further details.

Deposit, Collection and Processing of Items

We have the right to refuse to accept any check or instrument for deposit at our sole discretion. If you deposit an item and it is returned unpaid, we will debit your account for the amount of the item and charge you a fee. You will be liable to us for the amount of any item you deposit which is returned unpaid, and in addition, will be responsible for any of our costs and expenses incurred in the collection of such returned item from you. Any item deposited is subject to final settlement.