funds availability

The length of delay is counted in business days from the business day of deposit. Every day is a business day except Saturdays, Sundays, and federal holidays.  If a deposit is made at a branch office of Woodsboro Bank during branch hours on a business day that the bank is open, that day will be considered the day of deposit.

If a deposit is made at a Woodsboro Bank Night Depository on or before 9:00 am on a business day that the bank is open, that day will be considered the day of deposit.  However, if a deposit is made after 9:00 am at a Woodsboro Bank Night Depository on a business day the bank is open, the deposit will be considered being made on the next business day.

If a deposit is made at a Woodsboro Bank ATM on or before 2:00 pm on a business day that the bank is open, that day will be considered the day of deposit.  However, if a deposit is made after 2:00 pm at a Woodsboro Bank ATM on a business day the bank is open, the deposit will be considered being made on the next business day.

If a deposit is made by means of Mobile Banking, or Remote Deposit Capture methods on or before 8:00 pm on a business day that the bank is open, that day will be considered the day of deposit.  However, if a deposit is made after 8:00 pm by means of Mobile Banking, or Remote Deposit Capture methods on a business day the bank is open, the deposit will be considered being made on the next business day.

If a deposit is made on a day that the bank is not open, the deposit will be considered being made on the next business day that the bank is open.

Funds from the following deposits are available on the same business day of deposit:

• All electronic direct deposits
• Checks drawn on us if funds are available in the account
• Online Banking Transfers
• Cash deposits

Funds from the following items are also available on the first business day after the day of deposit:

• Government checks (U.S. Treasury, Federal, State and local)
• Cashier's, certified and teller checks that are made payable to the account holder
• Federal Reserve Bank checks, Federal Home Loan Bank checks and U.S. Postal money orders, if these items are payable to the depositor
• All other checks drawn on another financial institution

In some cases, we may delay your ability to withdraw funds beyond the next business day. In those cases, the funds will generally be available by 9:00 am on the second business day after the day of deposit. The first $225 from the deposit will be available on the first business day after the day of deposit.

We will notify affected customers if we delay their ability to withdraw funds at the time of the deposit. In some cases, the decision to place the hold may be made after the time of the deposit. In those cases, a Notice of Hold will be mailed to the customer.

In addition to holding checks under the case-by-case provisions in the rules, the availability may be delayed for longer periods under the following circumstances:

• We believe a check will not be paid;
• Deposited checks total more than $5,525 on one day;
• Returned unpaid checks are redeposited;
• An account has been overdrawn repeatedly in the last six months; and/or
• Emergencies, such as failure of communications or computer equipment.

We will notify affected customers if we delay their ability to withdraw funds for any of these reasons. We will tell affected customers when the funds will be available, which generally will be no later than the seventh business day after the day of deposit.

Special rules apply during the first 30 days an account is opened. Funds from electronic direct deposits and cash will be available on the day of deposit.

Funds from wire transfers deposits and the first $5,525 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 deposit if checks are payable to the depositor. The excess over $5,525 will be available on the ninth business day after the day of deposit.  Funds from all other checks will be avail­able by 9:00 am on the ninth business day after the day of deposit.

If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of the funds that are already in your account. These funds will be available at the time funds from the check we cashed would have been available if you had deposited it.