Funds Availability definition

Funds Availability refers to your ability to use the funds that you deposit into your account through the MCDS. This funds availability policy only applies to deposits made using the MCDS. You agree that items transmitted using the MCDS are not subject to the funds availability requirements of Federal Reserve Board Regulation CC. Deposits made at a branch location or ATM remain subject to the funds availability policy outlined in your deposit account agreement. The funds for the Checks that you deposit through the MCDS may not be immediately available to you. In order to determine the availability of your funds, you will need to determine the date and time that the Checks and all required data and information are received by the Bank. You understand and agree that we shall not be deemed to have received a Check deposit through the MCDS until we notify you via onscreen messaging and/or e-mail that we received the Check deposit. The deposit cut-off time for the MCDS is 7:00 PM Central Time (CT) on a business day as defined in Section 7. The Bank reserves the right to change the cut-off time in its sole discretion. Such change shall be effective immediately and may be implemented before you receive notice of the change. You may contact us at any time to verify our current cut-off time. If you complete the scanning and transmission process and receive your deposit receipt, checks that you deposit before the cut-off time on our business days will be considered as received that same business day. Checks that are received by us through the MCDS after the cut-off time on a business day, or on any day that is not a business day, will be considered as received by us on the next business day. For purposes of determining when a deposit is received, the Bank’s records shall be determinative. Your deposit made using the MCDS will generally be available on the first Business Day after the day of deposit. The Bank may delay availability of funds based on such factors as credit worthiness, the length and extent of your relationship with us, transaction and experience information, and such other factors as the Bank, in its sole discretion, deems relevant. 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. In general, funds delayed for the above reasons will be available no later than the second Business Day after the day of your deposit. You agree that it is your responsibility to understand and build ...
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Funds Availability. The Credit Union policy is to make the first $225 of the deposit available to the member immediately, while the remaining funds will become available around two (2) business days after the date of deposit. Even after the Credit Union has made funds available to the member, and even if the member has withdrawn the funds, said member is still responsible for checks that are deposited and are returned to the Credit Union unpaid, and for any other problems involving said member’s deposit.
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Funds Availability. The Bank agrees: to make Fed Funds available to the applicable Portfolio at 10:00AM ET on the second business day after deposit of any check into an Account in the amount of the check (subject to reversal in the event that any such check does not properly clear); to make funds available immediately upon a deposit made by Federal Reserve wire; and to make funds available on the next business day after a deposit by ACH credit.
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Examples of Funds Availability in a sentence

  • However, we will not be liable for direct or consequential damages in the following events: - If, through no fault of ours, there is not enough money in your accounts to complete the transaction, if any funds in your accounts necessary to complete the transaction are held as uncollected funds pursuant to our Funds Availability Policy Disclosure, or if the transaction involves a loan request exceeding your credit limit.

  • The availability of funds in your account may be delayed as described in our Funds Availability Policy Disclosure.

  • Also, the availability of funds for transfer or withdrawal may be limited due to the processing time for any ATM deposit transactions and our Funds Availability Policy.

  • Funds will be available as described in our Funds Availability Disclosure.

  • Also, the availability of funds for transfer or withdrawal may be limited due to the processing time for ATM transactions and our Funds Availability Policy.

  • Availability of funds for transfer or withdrawal may be limited due to the processing time required for ATM deposit transactions and our Funds Availability Policy.

  • All communications which relate to any changes to the Contract shall not be considered effective until agreed to, in writing, by both parties.E.2. Subject to Funds Availability.

  • However, we will not be liable for direct or consequential damages in the following events: • If, through no fault of ours, there is not enough money in your accounts to complete the transaction, if any funds in your accounts necessary to complete the transaction are held as uncollected funds pursuant to our Funds Availability Policy, or if the transaction involves a loan request exceeding your credit limit.

  • You may consult the Funds Availability Policy Disclosure for information regarding the availability of funds in your account.

  • We reserve the right to place longer holds on non-U.S. items than the time frames specified in our Funds Availability Policy.


More Definitions of Funds Availability

Funds Availability has the meaning set forth in Section 4.2.
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Funds Availability. Our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit. At that time, 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. If you make a deposit before 5:15 PM 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 5:15 PM or on a day we are not open, we will consider that the deposit was made on the next business day we are open. 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 eleventh business day after the day of your deposit. However, the first $100 of your deposit will be available on the first business day after we receive your deposit. If we are not going to make all of the funds from your deposit available on the first business day, 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 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 an even 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 deposit a check that has been returned unpaid; • You have overdrawn your account repeatedly in the last six months; or • 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 eleventh business day after the day of your deposit. If you are a new member, the following special rules will apply during the first 30 days your account is open. The first $5,000 from a deposit of U.S. Treasury checks will be available on the first business day after the day of your depos...
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Funds Availability means, at any time, the amount equal to the amount of cash or Cash Equivalents held by the Seller at such time.
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Funds Availability. Items transmitted using Remote Deposit are not subject to the funds availability requirements of Federal Reserve Board Regulation CC, and therefore longer hold delays may apply to these deposited items. Remote Deposit checks submitted before 4:00 p.m. (PST) on a business day will be reviewed and processed the same day, otherwise Remote Deposit checks will be reviewed and processed the next business day. A business day is any day except Saturday, Sunday and holidays. Funds that you deposit using Remote Deposit may not be immediately available to you. Acknowledgment that your Check Image deposit has been received by us does not mean that the Check Image deposit was received error free. Availability of funds will differ based on the account status and other account requirements or limitations. The following check items are not accepted for deposit through Remote Deposit: • Items that do not contain the described restrictive endorsement. • Items displaying a "non-negotiable" or "void" notation or watermark. • Items containing an alteration on the front of the check, or which you know or suspect, or should know or suspect, are fraudulent or otherwise not authorized by the owner of the account on which the check is drawn. • Items dated more than six (6) months prior to the date of deposit. • Items previously converted to a substitute check or items that are remotely created checks as defined by Federal Reserve Board Regulation CC. • Items issued by or through a financial institution in a foreign country. • Items not payable in United States currency. • Items with incomplete or illegible information. • Items that are money orders, traveler's checks or savings bonds. • Items made payable to a third party (i.e., any person or entity other than you). • Items that are in violation of any federal or state law, rule, or regulation. • Checks or items prohibited by the Credit Union's current procedures relating to Remote Deposit or are otherwise not acceptable under the terms of your Credit Union account. • Items with any endorsement on the back other than what is specified in this Agreement. You agree to follow any and all other procedures and instructions for use of the Remote Deposit service as the Credit Union may establish from time to time.
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Related to Funds Availability

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

  • Borrowing Availability means as of any date of determination the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the Revolving Loan and Swing Line Loan then outstanding.

  • Loan Availability means the amount available for Advances under this Agreement on any date as determined in accordance with the Availability Statement submitted to WFFPC on such date in accordance with Section 3.3.

  • Required Availability means that the sum of (a) Excess Availability, plus (b) Qualified Cash exceeds $10,000,000.

  • Borrowing Base Availability as to any Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Commitment Percentage of the Borrowing Base in effect at such time over (b) such Lender’s Aggregate Credit Exposure.

  • Accounts Availability means the amount of Loans against Eligible Accounts Laurus may from time to time make available to Company up to ninety percent (90%) of the net face amount of Eligible Accounts based on Accounts of Company and the Eligible Subsidiaries.

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Parent and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Parent and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Maximum Availability has the meaning set forth in Section 2.1.1.

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount or (ii) the Maximum Revolving Advance Amount, minus (b) the outstanding amount of all Revolving Advances and Swing Loans, minus (c) the Maximum Undrawn Amount of all outstanding Letters of Credit, minus (d) the sum of (i) all amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past their due date, plus (ii) all fees and expenses incurred in connection with the Transactions for which Borrowers are liable but which have not been paid or charged to Borrowers’ Account.

  • Canadian Availability means, as of any date of determination thereof, the result, if a positive number, of:

  • System Availability means the average percentage of total time during which the production version of the Service is available to Customer during a calendar month, excluding (i) any maintenance windows (including any maintenance windows defined in a supplement to this Agreement); (ii) delays due to conditions beyond the reasonable control of SAP; (iii) delays caused by systems outside of the Service, including, but not limited to, Customer’s network, equipment and systems; (iv) micro outages (meaning an inaccessibility that lasts less than fifteen (15) minutes, provided that there are no more than three (3) micro outages within a calendar month); and (v) inaccessibility due to Customer’s requests or where Customer approved the same in advance.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Aggregate Availability means, with respect to all the Borrowers, at any time, an amount equal to (a) the lesser of (i) the aggregate amount of the Commitments and (ii) the Aggregate Borrowing Base minus (b) the total Revolving Exposure.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • Net Borrowing Availability means as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case less the sum of the Revolving Loan and Swing Line Loan then outstanding.

  • Average Availability means, at any Adjustment Date, the average daily Availability for the fiscal quarter immediately preceding such Adjustment Date.

  • Availability Block means an amount equal to $10,000,000.

  • Revolving Credit Availability means, at any particular time, the amount by which the Maximum Revolving Credit Amount at such time exceeds the Revolving Credit Obligations at such time.

  • Term Loan Availability Period means the period from and including the Effective Date to but excluding the earlier of the Term Commitment Termination Date and the date of termination of the Term Commitments.

  • Service Availability The total number of minutes in a calendar quarter that the Tyler Software is capable of receiving, processing, and responding to requests, excluding maintenance windows, Client Error Incidents and Force Majeure.

  • Tranche A Availability Period means, with respect to any Lender, the period from and including the Closing Date to the earliest of (a) the Revolving Maturity Date applicable to such Lender, (b) the date of termination of the Aggregate Tranche A Commitments pursuant to Section 2.5, and (c) the date of termination of the commitment of each Tranche A Lender to make Loans pursuant to Section 7.1.

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Availability Payment means the payment to Owner described in Section 8.1 for Condition 1 and 8.2 for Condition 2.