Funds Availability Policy. 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 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 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 (1st) business day after the day of your deposit: • U.S. Treasury checks that are payable to you. • Wire transfers. • Checks drawn on us. If you make the deposit in person to one of our employees, funds from the following deposits are also available on the first (1st) business day after the day of your deposit: • Cash. • State and local government checks that are payable to you. • Cashier’s, certified, and xxxxxx’s checks that are payable to you. • 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 (2nd) business day after the day we receive your deposit.
Funds Availability Policy. Information contained in this section is provided to assist you in understanding our Funds Availability Policy. All deposits into accounts opened through the Bank are processed at a Bank processing facility. We make funds available according to the type of deposit and when the funds are applied, or credited to the Account. Some types of deposits may not be available for immediate use. When we delay the availability of funds or place a hold on a deposit made to the Account, you may not withdraw those funds, and we will not use them to pay any debits, such as ACH transfers or payments, Bill Pay transactions or transactions using your Card during the hold period. We have the right to refuse any deposit. If final payment is not received on any item you have deposited into the Account, or if any direct deposit, ACH transfer credit is returned to us for any reason, you agree to pay us the amount of the returned item.
Funds Availability Policy. This policy applies only to checking accounts. Deposits to other types of accounts may be subject to longer holds at our discretion.
Funds Availability Policy. Information contained in this section applies to all deposit accounts. Our general policy is to make funds available to you on the following basis. We intend to make cash and check deposits available to you immediately on the day we receive your deposits. Similarly, electronic direct deposits will also be available to you on the day we receive the deposit. When funds are available to you, you may withdraw them in cash and we may use them 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 available if you had deposited them. If we accept for deposi the time funds from the check we cashed would have been already in your account. Those funds will be available at the availability of a corresponding amount of funds that are for you that is drawn on another bank, we may withhold any other issues involving your deposit. If we cash a check returned to us unpaid and, subject to applicable law, for are still responsible for checks that you deposit that are on the day of your deposit, we will notify you to the extent possible 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 notice by the next business day after we receive your deposit. If you will need funds from the deposit right away, you should ask us when the funds will be available. In addition, in the case of an exception hold, 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; one day; You deposit checks totaling more than $5,750 on any • returned unpaid; You redeposit a check that has been previously • last 6 months; or You have overdrawn your account repeatedly in the • t a check that is drawn on another bank, we may make the funds from the deposit available for withdrawal immediately applicable time periods that are described elsewhere in this disclosure for the type of check that you deposited. would then not be available for withdrawal until the or another account with us. The funds in the other account amount of funds that you have on deposit in this account but delay your availability to withdraw a corresponding deposit. than the seventh (7th) business day after the day of your will be available. They will generally be available n...
Funds Availability Policy. 1. General Funds Availability Policy 2. Reservation of Right to Hold 3. Holds on Other Funds
Funds Availability Policy. We may hold the availability of funds from your cash and check deposits in accordance with statu- tory limits. During the hold period, you may not withdraw the funds, and we will not use the funds to pay checks that you have written.
Funds Availability Policy. Our Funds Availability Policy describes when funds deposited to your checking Account will be made available to you. While we generally apply the same policy to deposits you make to your savings Account, please keep in mind that this Funds Availability Policy does not apply to these deposits and we may delay availability of funds from these types of deposits. Checks drawn on a foreign bank and/or payable in a foreign currency are not subject to this Funds Availability Policy and may be subject to Holds.
Funds Availability Policy. Your available balance may be lower than your actual balance due to funds held for debit card transactions you have authorized, and deposited checks held pursuant to our funds availability policy. You can view your available balance through Online Banking to avoid an overdraft. Transactions may not be presented in the order which they occurred, and the order in which checks, or items are received and processed may affect if an overdraft occurs. WECU processes checks and ACH items and credits in the chronological order they are received.
Funds Availability Policy. This policy statement applies to “transaction accounts”. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third parties and an unlimited number of telephone and preauthorized transfers to other accounts of yours with us. Checking accounts are the most common transaction accounts. Feel free to ask us whether any of your other accounts might also be considered transaction accounts. Our general policy is to make funds from your check deposits available to you on the first business day after the day we receive your deposit. Once the funds are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written and other electronic debits that are presented for payment. For determining the availability of your deposits, Monday through Friday is a “business day” except Federal Holidays, Good Friday, the Friday after Thanksgiving, Christmas Eve, New Year’s Eve, and on any day designated for their observance. If you make a deposit at one of our offices before 5:00 p.m. 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 5:00 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open. Remember, 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 problems involving your deposit. Same Day Availability Funds from the following deposits will be available on the same day we receive the deposit: •Cash deposited in person to one of our employees; •Funds from electronic deposits (ACH) to your account; or •Checks drawn on the Credit Union and deposited in person to one of our employees. Next Day Availability Funds from the following deposits will be available on the first business day after the day of your deposit: •Wire transfers to your account; •U.S. Treasury checks and U.S. Postal money orders that are payable to you; •Federal Reserve Bank and Federal Home Loan Bank checks that are payable to you; •State and local government checks that are payable to you; •Cashier’s, certified, and teller’s checks that are payable to you; or •Checks drawn on the Credit Union and deposited into our night depository receptacle. If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these ...
Funds Availability Policy. Our policy for all transaction accounts is to make funds from your cash deposits, electronic direct deposits, government, cashier’s, certified, and teller’s checks (made payable to you) available on the day we receive them, and check deposits available to you on or before the second business day after the day we receive your deposit. The first $200 of your deposit will be available the next business day. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. 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 the close of business on a business day that we are open, we will consider that day to be the day of your deposit. For deposits made after we close, or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
