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Funds Availability Policy

Published: 06/09/2020

Effective July 1, 2020, the Consumer Financial Protection Bureau (CFPB) and the Federal Reserve Board have amended Regulation CC, which limits the amount and length of time funds may be held on check deposits. Please see below for details regarding these changes. 

CASE-BY-CASE HOLDS: 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 fifth business day after the day of your deposit. The first $225 of your deposits, however, may be available on the first business day.

EXCEPTION HOLDS: Funds you deposit by check may be delayed for a longer period under the following circumstances: You deposit checks totaling more than $5,525 on any one day.

NEW ACCOUNT HOLDS: Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,525 of a day's total deposits of cashier's, certified, teller's, traveler's, and federal, state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,525 will be available on the 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.

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