I. Longer Delays May Apply.
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 on the type of check that you deposit, funds may not be available until the second Business Day after the day of your deposit. However, the first $200 of your deposit will be available on the first Business Day after the day we receive your deposit.
If we are not going to make all of the funds that you deposit by check available on the first Business Day after the day of your deposit, 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 the day after we receive your deposit.
If you will need the funds from a deposit right away, you should ask us when the funds will be available.
In addition, funds you deposit by check may be delayed for a longer period under the following
circumstances:
• We believe a check you deposited will not be paid.
• You deposit checks totaling more than $5,000 on any one day.
• You redeposit a check that has been returned unpaid.
• You have repeatedly overdrawn your account in the last six months.
• There is an emergency, such as failure of communications or computer 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 seventh Business Day after the day of your deposit.
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II. Funds Availability Policy.
Our current policy is to make funds from your deposits available to you on the first Business Day after the day we receive your deposit. Funds from deposits of cash made in person to one of our employees, electronic Direct Deposits and wire transfer deposits will be available on the day we receive the deposit. Funds from the first $100 of deposits of checks made in person to one of our employees will be available on the day we receive the deposit (cash back that you receive from a deposit will not count against this $100).
Once the funds are available, you can withdraw them in cash and we will use them to pay checks that you have written. For determining the availability of your deposit, every day is a Business Day, except Saturdays, Sundays and federal holidays. If a wire transfer is received by 4:00 p.m. CST on a Business Day that we are open, we will consider that day to be the day of your deposit. However, if a deposit
is received on a day we are not open or we receive a wire transfer after the applicable time mentioned above, we will consider those next Business Day Transactions.
For customers on account analysis, we make your funds available in accordance with federal regulatory requirements and our check clearing schedule. Please contact your account representative for a copy of the check clearing schedule.
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III. Claims that Third Parties Make Against Us
We have responsibilities to third parties for Items that you deposit to your account. We also have responsibilities to third parties that transfer funds into your account. Those third parties may be able to make claims against us. If a claim is made against us:
• We may place a hold on your account when we learn of a claim.
• We may deduct the amount of the claim from your account. We may also deduct our losses and expenses in handling the claim. We may not give you notice before we do this. We may do this even though it overdraws your account.
• We are not obligated to verify the factual accuracy of claims. We are not obligated to verify that the claim is timely or to assert any defenses to the claim.
• In some situations, you might ask us to dispute a claim. If we do, you agree to be
responsible for our losses and expenses
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