Funds Availability Disclosure
This policy statement applies to “transaction” accounts. Transaction accounts, in general, are accounts which allow an unlimited number of transfer of funds to third parties through checks, wire transfers, debit card payments, drafts, or online transfers. 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.
Your Ability to Withdraw Funds
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 settlement date of the deposit. Once they are available, you can withdraw the funds in cash or 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Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problem involving your deposit.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 closing 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 closing or on a day we are not open, we will consider that the deposit was made on the next business day that we are open.
Cutoff times for the purpose of transferring funds via the bank’s website are 4:00 pm Monday through Thursday, and 5:00 pm on Friday. Transactions performed after these times will be posted the next business day.