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Funds Availability Policy

YOUR ABILITY TO WITHDRAW FUNDS AT BISON STATE BANK

Our policy is to make funds available from your cash and check deposits available to you on the same business day we receive the deposit. Funds from electronic direct deposits will also be available on the same business day we receive the deposit. Once the funds are available, you can withdraw them in cash and/or we will use them to pay checks you have written.

Our cut-off hour is 2:00 p.m. every business day, except Saturdays. Sundays, and Federal Holidays. If you make a deposit before our cut-off hour 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 cut-off hour or on a day we are not open, we will consider that the deposit was made the next business day we are open.

Reservation of the Right to Hold. In some cases, we will not make all of the funds that you deposit by check available to you on the same business day of your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. The first $200 of your deposit, however may be available on the business day of your deposit. If we are not going to make all of the funds from your deposit available on the same 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 business 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.

Delays May Apply

We may delay your ability to withdraw funds deposited by check into your account for these reasons:

  • You deposit checks totaling more than $5,000.00 on any one day.
  • Your re-deposit of a check that has been returned unpaid.
  • You have overdrawn your account repeatedly in the last six months
  • We believe a check you deposit will not be paid.
  • 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 second business day after the day of your deposit.

Holds on Other Funds. If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that is already in your account. These funds will be available at the time funds from the check we cashed would have been available if you have deposited it. If we accept for deposit a check that is drawn on another financial institution, 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 he type of check that you deposited.

 
 
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