Funds Availability Policy

YOUR ABILITY TO WITHDRAW FUNDS

Our policy is to delay the availability of funds from deposits for Billinero™ Online Savings Accounts. During the delay, you may not withdraw funds and we will not use the funds to pay online and mobile banking transfers, ACH, or other payment instructions. We do not accept deposits to Billinero™ Online Savings Accounts in person to one of our employees or by mail, including cash or check deposits.

DETERMINING THE LENGTH OF THE DELAY

The length of the delay is counted in business days from the day of your deposit. Every day is a business day except Saturdays, Sundays, and federal holidays. If you make a deposit before 5:00 P.M. Eastern Standard Time (cutoff times may be later on some days or at some locations) 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 5:00 P.M. Eastern Standard 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.

The length of the delay varies depending on the type of deposit and is explained below.  We may, in our discretion, make all or a portion of the funds from certain of these deposits available sooner but reserve the right to delay availability.

SAME-DAY AVAILABILITY

Funds from electronic direct deposits to your account will be available on the day we receive the deposit.

NEXT-DAY AVAILABILITY

Funds from wire transfers may be available on the first business day after the day of your deposit.

OTHER DEPOSITS

All other deposits payable to you, including images transmitted through Mobile Deposit Capture of checks drawn on any U.S. financial institution; federal, state, or local government checks; cashier’s, teller’s, or traveler’s checks; Federal Reserve Bank checks; and Federal Home Loan Bank checks, up to $25 is available for each image of a check deposited on the second business day after the day of your deposit; an additional $25 is available on the fourth business day after the day of your deposit; and the remaining funds on the sixth business day after the day of your deposit.

LONGER DELAYS MAY APPLY

In some cases, we will not make all of the funds that you deposit using Mobile Deposit Capture available to you on the second business day after the day of your deposit. Funds may not be available until the sixth business day after the day of your deposit. The first $25 of your deposits, however, will be available on the second business day.

Funds you deposit by an image of a 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 $5,525 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 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.

If you will need the funds from a deposit right away, you should ask us when the funds will be available.

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 wire transfers will be available on the first business day after the day of your deposit, and the first $5,525 of a day’s total deposits of images of cashier’s, certified, teller’s, traveler’s, and federal, state and local government checks will be available on the second 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 will be available on the ninth business day after the day of your deposit.

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