- YOUR ABILITY TO WITHDRAW FUNDS
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 your deposit. Electronic direct deposits will be available
on the day we receive the deposit. Once they are available, you
can withdraw the funds in cash and we will use the funds to pay checks
that you have written.
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 (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.
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.
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.
