Our policy is to delay the availability of funds
from your cash and check deposits. During the delay, you may not withdraw
the funds in cash 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 your deposit. Every day is a business
day except Saturdays, Sundays, and federal holidays. If you make a
deposit before (time of day) 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 (time of day) or on a day we are
not open, we will consider that the deposit was made on the next business
day we are open.
The length of the delay varies depending on the type of
deposit and is explained below.
Same-Day Availability
Funds from electronic direct deposits to your account
will be available on the day we receive the deposit.
Next-Day Availability
Funds from the following
deposits are available on the first business day after the day of
your deposit:
U.S. Treasury checks that are payable to you
wire transfers
checks drawn on (bank name) [unless (any
limitations related to branches in different states or check-processing
regions)]
If you make the deposit in person to one of our employees,
funds from the following deposits are also available on the first
business day after the day of your deposit:
cash
state and local government checks that are payable
to you [if you use a special deposit slip available from (where
deposit slip may be obtained)]
cashier’s, certified, and teller’s checks that are
payable to you [if you use a special deposit slip available from (where deposit slip may be obtained)]
Federal Reserve Bank checks, Federal Home Loan
Bank checks, and postal money orders, if these items are payable to
you
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 second business day after
the day of your deposit.
Other Check Deposits
The delay for other check deposits depends on whether
the check is a local or a nonlocal check. To see whether a check is
a local or a nonlocal check, look at the routing number on the check:
Personal Check
Business Check
If the first four digits of the
routing number (1234 in the examples above) are (list of local
numbers), then the check is a local check. Otherwise, the check
is a nonlocal check. Some checks are marked “payable through” and
have a four- or nine-digit number nearby. For these checks, use the
four-digit number (or the first four digits of the nine-digit number),
not the routing number on the bottom of the check, to determine if
these checks are local or nonlocal. Our policy is to make funds from
local and nonlocal checks available as follows.
1. Local checks. The first $100 from a deposit
of local checks will be available on the first business day after
the day of your deposit. The remaining funds will be available on
the second business day after the day of your deposit.
For example, if you deposit a local
check of $700 on a Monday, $100 of the deposit is available on Tuesday.
The remaining $600 is available on Wednesday.
2. Nonlocal checks. The first $100 from a deposit of nonlocal checks
will be available on the first business day after the day of your
deposit. The remaining funds will be available on the fifth business
day after the day of your deposit.
For example, if you deposit a $700 nonlocal check on a
Monday, $100 of the deposit is available on Tuesday. The remaining
$600 is available on Monday of the following week.
Longer Delays 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 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 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 (number) business day after the day of your deposit. If
you deposit both categories of checks, $100 from the checks will be
available on the first business day after the day of your deposit,
not $100 from each category of check.
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 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 (number) business day after the day of your deposit.
