Ability to Withdraw Funds. Our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. 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 in person at one of our branch locations 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. NOTE: Generally, our close of business is 5:00 p.m. (local time zone), Monday through Friday, however most of our locations close at 6:00 p.m. (local time zone) on Friday. (Note: These times may vary by location.) If you make a deposit into one of our automated teller machines before 3:00 p.m. (local time zone) on a business day we are open, we may consider that day to be the day of deposit. However, if you make any of the above- mentioned deposits after the cut-off time or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
Ability to Withdraw Funds. It is the general policy of Abilene Teachers Federal Credit Union (ATFCU) to make funds from a member’s cash, electronic direct deposits, and most checks available on the same business day the credit union receives the deposit. Once funds are available, a member can withdraw the funds in cash or we will use the funds to pay checks and/or clear debits. See details below about when the funds from different types of deposits can be used. Determining When a Deposit is Received For determining the availability of deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. We will consider a deposit as being made on a business day if it is made in person to one our employees. Deposits made at one of our night depositories will be considered deposited on the next business day. Same-Day Availability The Credit Union offers same-day availability for the following funds deposited in person at teller stations: • Depository Checks, i.e., Travelers Checks, cashier’s checks, certified checks and money orders. • On-Us Checks, i.e., checks drawn against accounts of Abilene Teachers Federal Credit Union. • Drafts Covered by Member’s Account, i.e. situations where the member’s account balance exceeds the amount of the draft. Standard Holds • In general, for check deposits, unless otherwise stated in this policy, $225 of a check deposit will be available the next business day after the date of deposit. The Credit Union is not required to make the $225 available if cash back of this amount was granted or the amount was applied to a negative balance at the time of deposit. • The Credit Union may impose second day availability (second business day following the deposit of funds) on deposits that are not made in person, for example, a deposit mad utilizing remote deposit capture; an Automated Teller Machine (ATM), or received in the mail. Reservation of the Right to Hold In some cases, we may not make all funds that a member deposits by check available on the same business day as the day of deposit. Depending upon the circumstances, funds may be held for three, seven, or ten business days after the date of deposit. However, the first $225 of a member’s deposit will be available on the first business day after the date of deposit (see example below). If we are not going to make all of the funds from a deposit available on the date of deposit, we will notify the member at the time the deposit is made. If a deposit is not made directly to one of our empl...
Ability to Withdraw Funds. It is the Bank’s desire to provide the earliest availability of funds on deposited items. However, the Bank may delay availability of deposited funds for withdrawal an additional number of business days as stated in the Reg CC – Expedited Funds Availability Disclosure. If your ability to withdraw deposited funds is delayed:
Ability to Withdraw Funds. Generally, our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit, although specific account types, check types or deposit methods may be subject to delayed funds availability. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. In many cases we will make the funds from your deposited checks available to you sooner than we are able to collect the funds from the paying bank, and it is possible for a check or other item to be returned to us as unpaid days, weeks or months after we have made the funds available to you. Please remember that even after we have made funds available to you, and you have withdrawn the funds, we have the right to reverse the credit for the deposited checks and/or you are still responsible for repaying us for any checks or other items you deposit or transmit to your account that are returned unpaid to us for any reason. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit in person at one of our branch locations 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. If you deposit a check by Mobile Deposit on a business day before the Mobile Deposit service cutoff time, we will consider that day to be the day of your deposit. (For Mobile Deposit Business Day cutoff time information, please refer to the Mobile Deposit information in the service-specific Online Banking Agreement.)
