Funds Availability
What is it...
Funds availability refers to the time that passes before funds deposited to your account are actually available to you for check writing and cash withdrawals. Our policy has been designed to give you quality service, meet regulatory requirements and protect both you and ourselves from loss.
If we decide to change or further improve any of the availability schedules listed in this disclosure, we will notify you within thirty (30) days of any such change.
This information should take some of the "guesswork" out of the management of your personal finances. We recommend that you keep this disclosure with your other account records so that you may refer to it in the future.
If you have any questions, please stop in and ask...we would be happy to answer your questions.
Your ability to withdraw funds at...
Century Bank & Trust
141 South Wayne Street
1800 North Columbia Street
Milledgeville, GA 31061
(478) 453-3571
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 the deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
For determining the availability of your deposits, every day is a business day, except Saturday, Sunday and federal holidays. If you make a deposit before 3:30 p.m. 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 3:30 p.m. or on a day that we are not open, we will consider the next business day we are open to be the day of your deposit.
Longer delays may apply...
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 fifth (5) business day after the day of your deposit. However, the first $100 of your deposit will be available on the first business day after we receive your deposit.
If we are not going to make all of the funds from your deposit available on the first business day after we receive the deposit, 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 first business day after we receive your deposit.
If you will need the funds from a deposit right away, you should ask us when the funds will be available.
Safeguard Exceptions...
In addition, 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 (6) months;
or - There is an emergency, such as failure of communications or computer 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 eleventh (11) 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 thirty (30) days your account is open. An account is considered open when the first deposit is made to the account.
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 $5,000 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 funds over $5,000 will be available on the ninth (9) business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit.
Funds from all other check deposits will be available on the eleventh (11) business day after the day of your deposit.
