Expedited Funds Availability
Your Ability to Withdraw Funds
Our policy is to delay the availability of funds from your check deposits. 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. Once they are available, you can withdraw the funds in cash, and we will use the funds to pay any payments that have been authorized by you. Cash and electronic direct deposits will be available on the day we receive the deposit.
For determining the availability of your deposit, every day is a business day except Saturdays, Sundays and Federal holidays. If you make a deposit on a business day that we are open during our business hours, we will consider that day to be the day of your deposit. However, if you make a deposit on a day, we are not open or after our normal business hours, we will consider that the deposit was made on the next business day that we are open.
The length of the delay varies on the type of deposit and is subject to the approval of management. This is explained below in the Longer Delays May Apply section of this disclosure. Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for all checks that you deposit at Rome FCU that are returned to us as unpaid and for any other problems involving your deposit.
Same Day Availability
Funds from the following deposits will be available on the same business day that we receive the deposit:
-Electronic direct deposits
-Local Payroll Checks
Next Day Availability
-Funds from the following deposits will be available on the first business day after we receive the deposit:
-US Postal Money Orders
-US Treasury Checks
-NY State Checks
-Local Government Checks
-Local Attorney Checks
Longer Delays May Apply
In some cases, we will not make all of the funds from a check(s) deposit available to you on the same day that we receive it. In those cases, $225 will generally be available for withdrawal on the 1st business day after the day we receive the deposit. The remainder of the deposit will generally become available by the 5th business day, but no later than the 9th business day after we receive the deposit. Under certain circumstances, we may delay funds availability longer. If we decide to delay your funds availability, we will notify you at the time of your in-person deposit, or as soon as possible for other deposits.