PSECU’s Funds Availability Policy
Our Policy is to make funds from your deposits available to you on the business day that we receive your deposit. Electronic deposits will be available on the day we receive the deposit. Once the funds are available, you may withdraw the funds, and we will use the funds to pay checks that you have written.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, Federal holidays, and any other day that we are closed. Your deposits are considered received: (1) the day you deposit the funds at our teller windows, (2) the day we receive your deposit funds in the mail, or (3) the day you deposit funds in the Automated Teller Machine (ATM). If you make a deposit in our night depository when we are not open, we will consider that deposit to be made on the next business day that we are open.
Longer Delays May Apply
In some cases, we will not make your funds available on the business day that we receive your deposit. PSECU reserves the right to hold funds in certain instances. If you need the funds from a deposit right away, you should ask us when the funds will be available.
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 a failure of communication or computer equipment.
- You deposit a local or non-local check(s) into a new account during the first 30 days.
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. 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. Deposited funds will generally be available no later than eight business days after the day of the deposit.
For information on Upost@Home® funds availabity, Click Here.
Form: PSECU #2160 Rev. 07/05