FUNDS AVAILIBILITY DISCLOSURE

Funds Availability Disclosure

Your Ability To Withdraw Funds

Our policy is to make funds from all check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits, deposits of cash, and wire transfers 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. Remember, even after we have made funds available to you and you have withdrawn the funds, you are still responsible for checks you deposit that are returned unpaid and any other problems involving your deposit.

Determining the Availability of a Deposit

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit during business hours on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after business hours or on a day we are not open, we will consider that the deposit was made on the next business day we are open. Also, if you make a deposit at our 256 Court Street or 325 Sabattus Street ATM after 5:30 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Longer Delays May Apply

In some cases, we may not make all of the funds that you deposit by check available to you by the first business day after the day of your deposit. Depending on the type of check that you deposit, for example, if the check is not made out to you, the funds may not be available until the second business day after the day of your deposit. The first $225.00 of your deposits, however, may be available on the first business day.

If we are not going to make all of the funds from your deposit available by 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 by the first business day after we receive your deposit. If you 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 deposit will not be paid.
  • You deposit checks totaling more than $5,525n any one day.
  • You redeposit a check that has been returned unpaid.
  • You have overdrawn your account repeatedly in the last six months.
  • There is an emergency, such as failure of computer or communications 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 sixth business day after the day of your deposit.

Special Rules For New Accounts

If you are a new customer, the following special rules will apply during the first 30 days that your account is open.

Funds from electronic direct deposits to your account, deposits of cash, and wire transfers will be available on the day we receive the deposit. Funds from the first $5,525 of a day’s total deposits of cashier’s, certified, teller’s, and traveler’s checks, U.S. Postal Service money orders, and federal, state, and local government checks will be available on the 1st (first) business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,525 will be available on the 9th (ninth) business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,525 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the 9th (ninth) business day after the day of your deposit.

Notwithstanding the above provisions, all items are subject to final collection by the Bank.