Funds Availability

Money in hand                            This policy statement applies to all transaction accounts. 

Our policy is to make funds from your deposits available to you immediately.  At that time, you can withdraw the funds 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  Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.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 we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account.  Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us.  The funds in the other account would then not be available for withdrawal until the appropriated time periods have expired for the type of check you have deposited. 

LONGER DELAYS MAY APPLY In some cases, we will not make all of the funds that you deposit by check available to you immediately.  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.  However, the first $200 of your deposit will be available immediately.

 If we are not going to make all of the funds from your deposit available immediately, 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.  In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:

  • We believe a check you deposited will not be paid

  • You deposit checks totaling more than $5000 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 a communications failure or computer equipment failure.

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.