Ascencia!! - Disclosures - Funds Availability


Disclosures Funds Availability	Print	Close Window

	Policy Statement
	Longer Delays
	New Accounts

Policy Statement

Our policy is to make funds from your deposits available to you based on a standard check clearing availability schedule. Generally, the funds will be available on the first banking day after the day the deposit was received by us for local checks. Non-local checks will be available on the second banking day after we received the deposits. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.

To find out when funds from your check deposits will be available, look at the first four digits of the routing number on the check. The check is a local check if the first four digits of the routing number are any of the following:

0420           2420
0421           2421
0422           2422
0423           2423
0442           2442
0515           2515
0519           2519
0740           2740
0749           2749
0813           2813
0830           2830
0839           2839
0863           2863

All other checks are nonlocal. Some checks are marked "payable through" and have a four or nine digit number nearby. For these checks, use this four digit 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 nonlocal.

Deposits are subject to verification and corrections will be made if necessary. We do not accept credit card convenience checks. We do not accept items payable to a business as deposits to personal accounts. International checks, upon request, may be sent for collection. Appropriate collection fees will apply. With collections, you will receive credit when we receive credit. We assume no liability in regards to other financial institutions negligence in handling any item.

We are not able to accept a substitute check that has not previously been handled by a bank through the US collections process. This includes a substitute check created by you or another person.

Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

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 4:30 P.M. EST 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 4:30 P.M. EST or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

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Longer Delays May Apply
In some cases, we will not make all of the funds that you deposit by check available to you on the first or second 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. However, the first $100 of your deposits 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 or second business day after we receive your deposits depending on whether the item is local or non local, we will notify you at the time that 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 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 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 communications or computer equipment.
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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.

There may be a hold on your initial check deposit for seven business days. If your initial deposit is an ACH, there will be a hold of two business days.

Funds from electronic direct deposits into 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 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 $5,000 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 business day after the day of your deposit.

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