Common use of General Funds Availability Policy Clause in Contracts

General Funds Availability Policy. For savings accounts, we reserve the right to place reasonable holds on deposited funds to the extent permitted by law. For checking accounts, our general policy is to make funds from your deposits available to you on the same business day that we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and/or we will use them to pay checks that have been written. For check deposits, other than government checks, made at a shared branch facility, we may place a two business day hold on the funds. For determining the availability of your deposits, every day is a business day, except Sundays and federal holidays.