TO WITHDRAW FUNDS
This policy statement
applies to all deposit accounts.
Our policy is to
make funds from your 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.
that even after we have made funds available to you, and you have withdrawn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.
the availability of your deposits, every day is a business day except
Saturdays, Sundays, and federal holidays. If you make a deposit before
3:00 P.M. 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
3:00 P.M. or on a day we are not open we will consider that the deposit
was made on the next business day we are open.
If we cash a check
for you that is drawn on another bank, 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 bank, 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 time periods that are described
elsewhere in this disclosure for the type of check that you deposited.
DELAYS MAY APPLY
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 day after the day of your
deposit. However, the first $200 of your deposits will 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 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 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 communications or computer 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 ninth business day after the day of your