Funds Availability Policy Disclosure
Information about deposited items
FUNDS AVAILABILITY POLICY DISCLOSURE
PURPOSE OF THIS DISCLOSURE
For purposes of this disclosure, the terms "you" / "your" refer to the customer and the terms "our" / "we" / 'us" refer to the Bank.
Generally, transaction accounts are accounts which would permit an unlimited number of payments by check to third persons, and also an unlimited number of telephonic and preauthorized transfers to third persons or other accounts you may have with us.
DETERMINING THE AVAILABILITY OF YOUR DEPOSIT
When we delay your ability to withdraw funds, the length of the delay is counted in Business Days from the day of your deposit. The term "Business Day" means any day other than a Saturday, Sunday or federally declared legal holiday, and the term "Banking Day" means that part of any Business Day on which we are open to the public for carrying on substantially all of our banking functions.
If you make a deposit before 4:00 pm 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 pm or on a day that we are not open, we will consider the deposit made on the next Business Day we are open.
Next Day Availability. Funds from deposits of U.S. Treasury checks (if payable to you and deposited into your account), U.S. Postal Service Money Orders (if payable to you and deposited into your account, and the deposit is made in person to an employee of the Bank"), Federal Reserve Bank or Federal Home Loan Bank checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of the Bank"), State or Local Government checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of the Bank"), Cashier's, Certified, or Teller's checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of the Bank"), and checks drawn on us are available on the first Business Day after the day of your deposit.
*If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available no later than the second Business Day after the day of your deposit.
Other Check Deposits. All other check deposits than those indicated above will be available on the first Business Day after the
HOLDS ON OTHER FUNDS FOR CHECK CASHING
HOLDS ON OTHER FUNDS IN ANOTHER ACCOUNT
LONGER DELAYS MAY APPLY
If we are not going to make all of the funds from your deposit available to you according to the previously stated availability schedule, 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.
Funds you deposit by check may be delayed for a longer period under the following circumstances: (a) if we believe a check you deposit will not be paid; (b) if you deposit checks totaling more than $5,000 on anyone day; (c) if you redeposit a check that has been returned unpaid; (d) if you have overdrawn your account repeatedly in the last six months; or (e) if an emergency condition arises that would not enable us to make the funds available to you, such as the failure of computer or communications equipment.
We will notify you if we delay your availability 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. If you will need the funds from a deposit right away, you should ask us when the funds will be available.
SPECIAL RULES FOR NEW ACCOUNTS
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 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 seventh 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 deposit.
Funds from all other check deposits will be available on the seventh Business Day after the day of your deposit.
DEPOSITS AT AUTOMATED TELLER MACHINES
We only allow deposits to be made at ATMs that we own or operate. All ATMs that we own or operate are identified as our machines.
IMPORTANT INFORMATION ABOUT YOUR ACCOUNT
SUBSTITUTE CHECKS AND YOUR RIGHTS
WHAT IS A SUBSTITUTE CHECK?
Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.
WHAT ARE MY RIGHTS REGARDING SUBSTITUTE CHECKS?
The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.
HOW DO I MAKE A CLAIM FOR A REFUND?
or write to us at:
You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must include: