| Funds Availability Policy |
|
| DESCRIPTION OF DEPOSIT | WHEN FUNDS MAY BE WITHDRAWN BY CASH OR CHECK |
| Direct deposits | The day we receive the deposit |
| Cash, wire transfers, checks drawn on American Chartered, and the first $100.00 of a day’s aggregate deposits of other checks | The first business day after the day of deposit |
| Cashier’s, certified, state, government, and local government checks* | The first business day after the day of deposit |
| Local checks | The second business day after the day of deposit |
| Non-local checks | The third business day after the day of deposit |
*Must use special deposit slip for next day availability. Available upon request.
Holds on other funds (check cashing):
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 on the second business day after the date the check was cashed.
New Accounts:
Accounts are considered NEW for the first 30 days and are not subject to availability requirements. This means if your account is less than 30 days old the first $100 of a day's aggregate deposits of other checks will not be available on the first business day after your deposit. Funds will be available as follows:
Local checks will be available on the second business day after your deposit.
Non-local checks deposited will be available on the third business day after your deposit.
Non-local checks deposited will be available on the third business day after your deposit.
Once your account has been opened for more than 30 days, our regular Funds Available Schedule will Apply.
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