#REG CC CHECK HOLDS 2021 UPDATE#

You deposit checks totaling more than $5,525.00 on any one (1) day.We believe a check you deposit will not be paid.LONGER DELAYS MAY APPLY - We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons: The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this Disclosure for the type of check that you deposited.Ĥ. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. HOLDS ON OTHER FUNDS - If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. If you will need the funds from a deposit right away, you should ask us when the funds will be available.ģ. 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 next business day after we receive your deposit. We will also tell you when the funds will be available. If we are not going to make all of the funds from your deposit available on the next business day, we will notify you at the time you make your deposit. However, the first $225.00 of your deposit will be available on the first business day after the day of your deposit. Funds may not be available until the second business day after the day of your deposit. 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 next business day that we receive your deposit. However, if you make a deposit after our cutoff hour or on a business day we are not open, we will consider that the deposit was made on the next business day we are open.Ģ. If you make a deposit before close of business on a business day that we are open, we will consider that day to be the day of your deposit. The earliest cutoff hour that might apply for deposits made at an ATM that we own or operate is 5:00 p.m.

The earliest cutoff time that might apply at a staffed facility is close of business. We have different deposit cutoff hours for different deposit locations. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. Electronic direct deposits will be available on the day we receive the deposit. GENERAL POLICY - Our policy is to make funds from your cash and check deposits available to you on the next business day after we receive your deposit. Please ask us if you have a question about which accounts are affected by this policy.ġ. The Credit Union reserves the right to delay the availability of funds deposited to accounts that are not transaction accounts for periods longer than those disclosed in this policy. It only applies to the availability of funds in transaction accounts. This Disclosure describes your ability to withdraw funds at Community 1st Credit Union.

#REG CC CHECK HOLDS 2021 UPDATE#

Reg CC: Update To Funds Availability PolicyĮffective July 1, our Funds Availability Policy will change to allow $225 (increased from $200) available next business day on non-next day checks and $5,525 (increased from $5,000) available on new account and exception holds.

Reg cc check holds 2021