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 you deposit. Electronic direct deposits will
be available on the day we receive the deposit. Once
the funds are available, you can withdraw them in cash
and we will use them 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to you, and you have withdrawn the funds, you are still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 deposit.
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 2:00 PM 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 2:00 PM or on a day we are not open, we will consider
that the deposit was made on the next business day we
are open.
Longer
Delays May Apply-
- Case-by-Case
delays-- 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 fifth business day after the day of your
deposit. The first $100 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.
- Safeguard
exceptions-- In addition, the
funds you deposit by check may be delayed for a
longer period under the following circumstances:
Ø We
believe a check you deposited will not be paid.
Ø You
deposit checks totaling more than $5,000 on any one day.
Ø You
redeposit a check that has been returned unpaid.
Ø You
have overdrawn your account repeatedly in the last six
months.
Ø There
is an emergency, such as a 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 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 first business day after the
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 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 |
