FUNDS AVAILABILITY
RULES & REGULATIONS
Your Ability to Withdraw Funds:
This policy statement applies to all deposit accounts.
Our policy is to make funds from your cash and check deposits available to
you on the first business day after the day 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 we
will use the funds to pay checks that you have written.
Please remember that 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have withdrawn the funds, you are still responsible for checks you deposit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 to us unpaid and for any other problems involving your
deposit.
Determining the Availability of a Deposit:
The length of the delay is counted in business days from the day of your
deposit. Every day is a business day except Saturdays, Sundays, and federal
holidays. If you make a deposit before closing 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 closing or on a day we are not open, we will
consider that the deposit was made on the next business day we are open.
The length of the delay varies depending on the type of deposit and is
explained below.
Same-Day Availability
Funds from electronic direct deposits to your account will be available on
the day we receive the deposit.
Next-Day Availability
Funds from the following deposits are available on the first business day
after the day of your deposit
- U.S. Treasury checks that are payable to you
- Wire transfers
- Checks drawn on Ambler Savings Bank
If you make the deposit in person to one of our employees, funds from the
following deposits are also available on the first business day after the
day of your deposit:
- Cash
- State and local governments checks that are payable to you
- Cashier’s certified, and teller’s checks that are payable to you
- Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal
money orders that are payable to you.
If you do not make your deposit in person to one of our employees (for
example, if you mail the deposit), funds from these deposits will be
available on the second business day after the day we receive your deposit.
Other Check Deposits
The delay for other check deposits
depends on whether the check is a local or a non-local check. To see whether
a check is a local or a non-local check, look at the routing number on the
check. If the first four digits of the routing number are 0210, 2210, 0212,
2212, 0214, 2214, 0215, 2215, 0216, 2216, 0219, 2219, 0260, 2260, 0280,
2280, 0310, 2310, 0311, 2311, 0312, 2312, 0313, 2313, 0319, 2319, 0360 or
2360, then the check is a local check. Otherwise, the check is a non-local
check. Some checks are marked “payable through” and have a four- or
nine-digit number nearby. For these checks, use the four-digit number (or
the first four digits of the nine-digit number), not the routing number on
the bottom of the check to determine if these checks are local or non-local.
Our policy is to make funds from local and non-local available as follows:
- Local checks. The first $100 from a deposit of local checks will be
available on the first business day after the day of your deposit. The
remaining funds will be available on the second business day after the day
of your deposit.
For example, if you deposit a local check of $700 on a Monday, $100 of the
deposit will be available on Tuesday. The remaining $600 is available on
Wednesday.
- Non-local checks. The first $100 from a deposit of non-local checks will
be available on the first business day after the day of your deposit. The
remaining funds will be available on the fifth business day after the day of
your deposit.
For example, if you deposit a non-local check of $700 on a Monday, $100 of
the deposit will be available on Tuesday. The remaining $600 is available on
Monday of the following week.
- Local and non-local checks. If you deposit both categories of checks,
$100 from the checks will be available on the first business day after the
day of your deposit, not $100 from each category of check.
If we cash a check for you that is drawn on another bank, we may withhold
the availability of a corresponding amount of funds that are already in your
account. Those funds will be available at the time funds from the check we
cashed would have been available if you had deposited it.
If we accept for deposit a check that is drawn on another bank, 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. 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.
Longer Delays May Apply
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 $5,000 on 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.
- You deposit a check that is payable to someone other than the
owner(s) of the account.
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.
Special Rules for New Accounts
If you are a new customer, the following special rules will apply during the
first 30 days your account is open.
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 $5,000 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
deposits 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
$5,000 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 $5,000 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 tenth business
day after the day of your deposit.
Deposits at Automated Teller Machines
Funds from any deposits (cash or checks) made at automated teller machines
(ATMs) we do not own or operate will not be available until the fifth
business day after the day of your deposit. This rule does not apply at ATMs
that we own or operate that accepts deposits.
Thank You for your Loyalty, Trust and Business!
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