C-4—Holds to Statutory Limits on All Deposits
(Includes Chart)
YOUR ABILITY TO WITHDRAW FUNDS
Our policy is to delay the availability of funds
from your cash and check deposits. During the delay, you may not withdraw
the funds in cash and we will not use the funds to pay checks that
you have written.
Determining the Availability
of a Deposit
The length of the delay is counted
in business days from the day of your deposit. Every day is a business
day except Saturdays, Sundays, and federal holidays. If you make a
deposit before (time of day) 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 (time of day) or on a day we are
not open, we will consider that the deposit was made on the next business
day we are open.
The length of the delay varies depending on the type of
deposit and is explained below.
Same-Day Availability
Funds from electronic direct deposits to your account
will be available on the day we receive the deposit.
Next-Day Availability
Funds from the following
deposits are available on the first business day after the day of
your deposit:
U.S. Treasury checks that are payable to you
wire transfers
checks drawn on (bank name) [unless (any
limitations related to branches in different states or check-processing
regions)]
If you make the deposit in person to one of our employees,
funds from the following deposits are also available on the first
business day after the day of your deposit:
cash
state and local government checks that are payable
to you [if you use a special deposit slip available from (where
deposit slip may be obtained)]
cashier’s, certified, and teller’s checks that are
payable to you [if you use a special deposit slip available from (where deposit slip may be obtained)]
Federal Reserve Bank checks, Federal Home Loan Bank
checks, and postal money orders, if these items are payable to you
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 on the second business day after
the day we receive your deposit.
Other Check Deposits
To find out when funds from other check deposits
will be available, look at the first four digits of the routing number
on the check:
Personal Check
Business Check
Some checks are marked “payable
through” and have a four- or nine-digit number nearby. For these checks,
use this four-digit number (or the first four digits of the nine-digit
number), not the routing number on the bottom of the check, to determine
if these checks are local or nonlocal. Once you have determined the
first four digits of the routing number (1234 in the examples above),
the chart below will show you when funds from the check will be available.
If you deposit both categories of checks, $100 from the checks will
be available on the first business day after the day of your deposit,
not $100 from each category of check.
Longer
Delays May Apply
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 (number) business day after the day of your deposit.
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
Special Rules
for New Accounts
First four digits from routing
number
When funds
are available
When funds are available
if a deposit is made on a Monday
[local numbers]
$100 on the first business day after the day of your deposit.
Tuesday
Remaining funds on the second business day after the day of your
deposit.
Wednesday
All other numbers
$100 on the first business day after the day of your deposit.
Tuesday
Remaining funds
on the fifth business day after the day of your deposit.
Monday of the
following week
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 (number) business day after the day of your deposit.
