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Funds Availability

Your Ability to Withdraw Funds at The Eastern Colorado Bank

Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit.  However, funds from electronic direct deposits will be available on the 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 that you have written.  For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays.  We have different deposit cut-off times for different locations.  Our cut-off times are as follows:

 

8:30 AM                      Mountain Time Zone - Night Drop

3:00 PM                      Mountain Time Zone – ATM Deposits

4:00 PM                      Mountain Time Zone – All other Deposits

 

If you make a deposit before our cut-off time 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 our cut-off time or on a day we are not open, we will consider that the deposit was made on the next business day we are open. 

Reservation of Right to Hold

In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the 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 $225.00 of your deposit, however, may be available on the first business day after the day of your deposit.  If we are not going to make all of the funds from your deposit available on the first 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. 

 

Longer Delays May Apply.  We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:

  • You deposit checks totaling more than $5,525.00 on any one day.
  • You redeposit 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 seventh business day after the day of your deposit.

 

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:  Funds from electronic direct deposits to your account will be available on the day we receive the deposit.  Funds from deposits of cash, wire transfers, and the first $5,525.00 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.  The excess over $5,525.00 will be available on the ninth business day after the day of your deposit.  If your deposit of the checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,525.00 will not be available until the second business day after the day of your deposit.

Funds from deposits of checks drawn on The Eastern Colorado Bank (On-Us Checks) will be available on the first business day after the day of your deposit.

Funds from all other check deposits will be available on the ninth business day after the day of your deposit.

 

Additional Information - Delay for Wire, Cashier's Checks and Money Order Transactions

Only the available balance in your account will fund any outgoing wire or the purchase of a cashier’s check or personal money order.  The delay for check deposits depends on whether the check is an On-Us check or Local check.

If the check is drawn on The Eastern Colorado Bank it is an On-Us check.  All other checks are considered Local checks.

On-Us Checks

The entire amount of the check will be available the next business day.  For example, if you deposit an On-Us check for $700.00 on a Monday, $700.00 of the deposit is available on Tuesday.

Local Checks

The first $225.00 from a deposit of all other checks will be available on the first business day after the day of your deposit.  The remaining funds will be available on the second business day after the day of you deposit.  For example, if you deposit a local check of $700.00 on a Monday, $225.00 of the deposit is available on Tuesday; the remaining $475.00 is available on Wednesday.