![]() If you are a new member, the following special rules will apply during the first 30 days your account is open.įunds from electronic direct deposits to your account will be available on the day we receive the deposit. They will generally be available no later than the seventh business day after the day of your deposit. We will notify you if we delay your availability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. There is an emergency, such as failure of communications or computer equipment.You have overdrawn your account repeatedly in the last six months.You redeposit a check that has been returned unpaid.You deposit checks totaling more than $5,525 on any one day.We believe a check you deposit will not be paid.First $225 of the day’s other check deposits.įunds you deposit by check may be delayed for a longer period under the following circumstances:.Payroll Checks (items clearly identifiable as being drawn on a payroll account) that are made payable to you.Federal Reserve Bank and Federal Home Loan Bank Checks that are made payable to you.Postal Money Orders and Traveler’s Checks that are made payable to you. Cashier’s, Certified and Teller’s Checks that are made payable to you.Texas state and local government checks that are made payable to you.Checks drawn on a Smart member’s checking account.Wire Transfers, including preauthorized credits, such as Social Security benefits and payroll payments.The length of the delay varies depending on the type of deposit and is explained below.įunds from the following deposits presented to us will be given same day availability: Every day is a business day except Sundays and federal holidays. The length of the delay is counted in business days from the day of your deposit. However, if you make a deposit after we close, or on a day we are not open, we will consider that the deposit was made on the next business day we are open.ĭetermining the Availability of a Deposit If you make a deposit on a business day that we are open, we will consider that day to be the day of your deposit. 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 subject to the Funds Availability Policy upon receipt of the deposit. Electronic Direct Deposits will be available on the day we receive the deposit. During the delay, you may not withdraw the funds in cash and we will not use the funds to pay checks that you have written. Our policy is to delay the availability of funds from certain check deposits. Establish maximum time limits that your deposit may be held.Make your deposited funds available as soon as possible, and. ![]() ![]() Smart Financial Credit Union (SFCU) has adopted the following policy to comply with The Federal Reserve’s Regulation CC. Large deposits and new accounts not subject to next day availability amount will increase from $5,000 to $5,525. Effective Jcheck deposits not subject to next day availability amount will increase from $200 to $225.
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