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FUNDS AVAILABILITY POLICY DISCLOSURE STATEMENT - REGULATION CC

YOUR ABILITY TO WITHDRAW FUNDS AT TERRABANK N.A.

Our policy is to make funds available on the next business day after the day of the deposit.  The first $200.00 of the deposit will be available on the first business day after the day of the deposit.  Once the funds are available, you can withdraw the funds in cash and/or we will use the funds to pay share drafts (checks) that you have written.  Under certain circumstances when depositing cashier’s checks or government checks a “special deposit slip” is available and this would make the entire deposit amount available on the next business day regardless of the amount of the deposit.  For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays and Federal Holidays.  If you make a deposit before 5:00 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 5:00 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Description of Deposit Funds can be withdrawn by cash/check
Direct Deposits Available the day we receive the deposit
Cash, Wire Transfers Available the day we receive the deposit
Government Checks, Certified/Cashiers Checks**
**(using a special deposit slip)
Available the next business day after the day of deposit
Local Checks Available the 2nd business day after the day of the Deposit


Longer Delays may Apply.

Longer delays may apply depending on the amount of your deposit; funds may not be available until the 5th business day for all deposits over $5,000.  However, the first $200 of your deposit will 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 by the 2nd business day after the day of your deposit, we will notify you at the time of the deposit or we will mail you the notice of hold by the next business day after the day of your deposit.  The deposit will generally be available no later than the 5th business day after the day of your deposit. 

We may delay your ability to withdraw funds deposited by check into your account an additional number of days for any of these reasons:

  •  We believe a check you deposit will not be paid.
  •  You deposit a check for more than $5,000.
  •  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 communications or computer equipment.

We will provide a notice of hold if we delay your ability to withdraw funds for any of these reasons.  If you need the funds from the deposit right away, you should ask us when the funds will be available.

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