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FUNDS AVAILABILITY POLICY Women’s
No
Cash on Premises We do not keep cash on the premises. Please make deposits in the form of a check or money order. We are not responsible for
cash you mail to us. Your
Ability To Withdraw Funds Our policy is to delay the availability of funds from your check and money order deposits. During the delay, you may not withdraw the funds and, if you have a share draft account, we will not
use the funds to pay checks that you have written. 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 in one of our offices to one of our employees on a business day that we are open—before our door closes--we will consider that day to be the day of your deposit. However, if you make a deposit after our door closes or on a day we are not open, we will consider that the deposit was made on the next business day we are open. Please check our Web site, our recording, and signs posted on or near
our office door for our regular hours and variations in schedule. 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 if they are payable to
you and/or or to Women’s in
an account in your name: •
U.S. Treasury checks;
•
Wire transfers; •
Checks drawn on Women’s 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 if they are payable to you and/or to Women’s Southwest FCU and deposited in an account in your name: : •
State 1 and local
government checks; •
Cashier's, certified, and teller's checks; • Federal Reserve Bank checks, Federal Home Loan Bank
checks, and postal money orders. .
If you do not make your deposit in person to one of our employees, funds from these deposits will be available on the second
business day after the day we receive your deposit. Other
Check Deposits Funds from other check deposits will not be available until the second business day after the day of your deposit. The first $100 of your deposits, however, will be made available on he
first business day.
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. 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 seventh
(7th) business day after the day of your deposit. Special
Rules For New Accounts If you are a new member, 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 wire transfers, and the first $5,000 of a day's total deposits of cashier's, certified, teller's, traveler's, and federal, state 1 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/or to Women’s 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
seventh (7th) business day after the day of your deposit. Footnotes: *Adapted from FRB Reg CC model policy #C-5, Holds to Statutory Limits on All Deposits 1.
“Registered Warrants” & other “IOUs” from the State of California & other government entities are not considered checks. We are sorry, but we’ll be unable to accept them. We’ll return them to you in hopes that you’ll be able to find another
credit union that will accept them. . © 2010 Women's Southwest FCU |
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