General Funds Availability. We make funds available according to the type of deposit and when the funds are applied or credited to your Deposit 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 your Deposit Account, you may not withdraw those funds, and we will not use them to pay any debits, such as ACH transfers or payments, check payments or, if available, 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 your Deposit Account, or if any ACH transfer is returned to us for any reason, you will pay us the amount of the returned item. The length of the delay in the availability of funds will vary depending on the type of deposit. The length of the delay in the availability of funds is counted in business days from the day your deposit is applied to your Deposit Account. For purposes of these disclosures, our business days are Monday through Friday. Federal holidays are not included. Deposits received after the cut-off times provided in your Mercury Account or on a day Banking Provider is not open will be processed the following business day that Banking Provider is open. Funds received from preauthorized electronic payments will be available on the day the deposit is applied to your Deposit Account. ACH Credits received from an external bank account will be applied to the Deposit Account when we have verified the external account and received payment on collected funds. Once the funds are applied to the Deposit Account, they will have same day availability. Electronic transfer deposits into the Deposit Account initiated through the Site or the Mobile App may take up to five (5) business days from the date of the initial request but will post on the payment date of the deposit once the money has reached us. In some circumstances, a longer hold period may apply before funds deposited by check are available in your Deposit Account. For example, a longer delay may apply in the following cases: (i) we believe a deposited check will not be paid; (ii) you deposit one or more checks totaling $5,000 or more in one day; (iii) you redeposit a check that has been previously returned unpaid; (iv) your Deposit Account had a negative balance anytime in the previous six (6) months; or (v) we experience an emergency, such as a failure of communication or computer delays. We will notify you if ...
General Funds Availability
