YOUR ABILITY TO WITHDRAW FUNDS AT EBANK
Our policy is to make funds from your cash and check deposits
available to you on the first business day after day we receive
your deposit. However, funds from electronic direct deposits
will be available on the day we receive the deposit. Once the
funds are available, you can withdraw them in cash and/or we
will use them 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 after 4:00PM or on a day we are not open, we
will consider that the deposit was made on the next business
day we are open.
Reservation of Right to Hold
In some cases, we will not make all of the funds that you
deposit by check available to you on the first business day
after the day of your deposit. Depending of the type of check
that you deposit, funds may not be available until the 5th
business day after the day of your deposit. The first $100
of your deposit, however, may be available on the first business
day after the day of you deposit. If we are not going to make
all of the funds from your deposit available on the first business
day, 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 business day after
we receive your deposit. If you need the funds from a deposit
right away, you should ask us when the funds will be available.
Longer Delays May Apply
We may delay your ability to withdraw funds deposited by check
into you account an additional number of days for these reasons:
- You deposit checks totaling more than $5,000 on any one
day.
- You redeposit a check that has been returned unpaid.
- You have overdrawn you account repeatedly in the last six
months.
- We believe a check you deposit will not be paid.
- 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 eleventh 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
the deposit 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 1st business day after the day of your deposit if your
deposit meets certain conditions. For example, the checks must
be payable to you. The excess over $5,000 will be available
on the 5th 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 deposits of checks drawn on ebank will be available
on the 1st business day after the day of your deposit.
Funds from all other checks deposits will be available not
later than the 11th business day after the day of your deposit.
Revised 07/20/2005 Regulation CC Funds Availability Disclosure
Funds Availability Disclosure
Revised 07/20/2005 Regulati8on CC Funds Availability Disclosure |
 |
