In addition to case-by-case holds, the Bank may place exception holds, which would make funds available on the seventh business day after the date of deposit (or long if applicable). These guidelines will be used for both checking and savings accounts. Electronic deposits (ACH) will be made available on the effective date of the deposit. deposits dropped in the night depository or at an ATM that accepts deposits), the day of deposit will be the next business day that we are open.įirst State Bank reserves the right to hold funds on a case-by-case basis according to the permanent availability schedule of Regulation CC which generally allows the first $225 availability of checks deposited on the first business day, second business day availability for the remainder of the checks deposited.
cutoff on a day we are open, that day will be the day of deposit. If the deposit is made before our 5:00 p.m. For determining the availability of deposits, every day is a business day, except Saturday, Sunday, and federal holidays. Subpart B relating to the availability of funds affects all transaction accounts and all deposit accounts are affected by Subpart D relating to substitute checks.įirst State Bank’s policy is to generally make funds from deposits available to the customer on the first business day after the day we receive the deposit. The Expedited Funds Availability Act and the Check Clearing for the 21 st Century Act, implemented through Regulation CC, impose requirements regarding the maximum length of hold periods that can be placed on deposited funds before the funds are available for withdrawal by the customer, stipulate disclosure requirements that must be made available, and set standards for check endorsements, substitute checks, and timely check returns. Your Availability to Withdraw Funds At First State Bank
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