Funds Availability Policy
Your Ability to Withdraw Funds
This policy statement applies to "transaction" accounts and savings accounts.
Transaction accounts, in general, are accounts which permit an unlimited number
of payments to third persons and an unlimited number of telephone and
preauthorized transfers to other accounts of yours with us. Checking accounts
are the most common transaction accounts. Feel free to ask us whether any of
your other accounts might also be under this policy.
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 the
funds are available, you can withdraw them in cash and we will use the funds 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have withdrawn the funds, you are still responsible for checks you deposit that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
4:00 P.M. (C.S.T.) 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 4:00
P.M. (C.S.T.) 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 $200 of your deposits, however, may be available on the first
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, 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 eleventh business day after the day of
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 tenth business day
after the day of your deposit.