55A - RESO - DEPOSITORY SRVS - Laserfiche WebLink

Home Browse Search

111, AkNlll 2�., FOR ACCOUNTS MAINTAINED IN THE U,S, The Bank's policy is to make funds available to the Customer on the same, next or second business day after the day of deposit depending on the type of deposit and when the deposit is made as described below. If the Cuslorner will need the funds from a deposit immediately, the Customer should ask the Bank when the funds will be available A, Determining the Day of a Deposit. If a deposit is made to an account on a business day before this Bank's cutoff time established for that location (which will be no easier than 2 em, local timop However, it a deposit is made after the cutoff trure or on a day that * not a business day, then the Bank will consider the deposit to have been made no later than the next business day, For determining this availability of deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. Availability with respect to any deposit will be determined by the location of the banking center or other facility where the deposit was received, For deposits made at the Bank's automated! teller machines (ATMs the cutoff time is 111 p or Eastern Time unless otherwise noted on the ATM screen B Same Day Availability. Funds from the following deposits made at a banking center or at an ATM that do not require deposit envelopes will be available on the business day the Bank determines the deposit is made: . Cash; . Wire transfers; and . Electronic direct deposits to an account C Next Day Availability. Funds from the following deposits are available on the first business day after the business day the Bank determines the deposit is made: U S Treasury checks that are payable to the Customer Checks drawn on a Bank affiliate that fields the applicable account (excluding a Controlled Disbursement site), and At least, the first $100 from a day's total deposits If the deposit is made in person to a Bank employee, funds born the following deposits are also available on the first business day after the business day the Bank determines the deposit is made State and local government checks that are payable to the Cusiorner, if a special deposit slip, available upon request at any Bank banking center is used; Cashier's, cerfified, and teller's checks that are payable to the Customer, if a special deposit slip, availlible upon request at any Bank banking center, is used, and Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, ff these items are payable to the Customer If a special deposit slip is not used, availability of funds from these deposits will follow the schedule identified in the Availability of 01her Check Deposits section below. 1) Availability of Other Check Deposits. Generally, funds frorn all other deposits of cinecks, drawn on banks (as defined in Federal Reserve Regulation CC) will be available no later than the second business day after the day of deposit Checks that require special handling may receive delayed availab,illity. The amount of funds available to the Customer will be reduced by this amount of any deposited check that is returned unpaid If the hank reprocesses the check, the funds will become available no later than the second business day after the business day in which the check is reprocessed E Longer Delays May Apply. In some cases the Bank may not make all of the funds that are deposited by check available. Depending an the type of check deposited, funds may not be available as set'. forth above However, the first $100 of the aggregate deposit will be available on the first business day after the day of deposit. if the Bank is not going to make all. of the funds from a deposit available at the times shown above, it will notify the Customer and specify when 'the funds will be available. If a deposit is not made directly to a Bank employee, or if the Bank decides to take this action after the Customer has left the premises, the Bank will mail or otherwise send the notice to the CLencareir by the business day after the daiy of deposit. Funds deposited by check may be delayed fur a longer abuse under the toli oncumstances The Bank believes a deposited check will not be li Deposited checks for all of the Customer's accounts total more than $5,000 in any one days 55A -129 PAY. 350914 iO0C'1D: 2 Puge, 19 of 5 1