DISCLOSURES

Funds Transfer

Overdraft Privileges

Funds Availability

ACH Disclosure

 

Funds Availability Disclosure

 

THIS POLICY DETAILS YOUR ABILITY TO WITHDRAW FUNDS FROM YOUR ACCOUNT AT:

THE BANK OF HARLAN
HARLAN, KENTUCKY
YOUR ABILITY TO WITHDRAW FUNDS


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. Electronic direct deposits will be available on the day we receive your 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.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays and Federal Holidays.  If you make a deposit on a business day that we are open, we will consider that day 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 second business day after the day of your deposit.  The first $200.00 of your deposits, however, may be available on the first business day.

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 day after we receive your deposit.  If you will need the funds from your deposit right away, you should ask us when the funds will be available.

 
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 months.
• There is an emergency, such as failure of computer or communication 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 need the funds from a deposit right away, you should ask us when the funds will be available.
 

HOLDS ON OTHER FUNDS
If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.
If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.
 

SPECIAL RULES FOR NEW ACCOUNTS
If you are a new customer, the following special rules may 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 $5,000 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 (and you may have to use a special deposit slip). The excess over $5,000 will be available until the ninth 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 $5,000.00 will not be available until the second business day after the day of your deposit.
Funds from all other check deposits will generally be available no later than the second business day after the day of your deposit.  Funds from all other check deposits will be available on the eleventh business day after the day of your deposit.


This disclosure is mandated by the Expedited Funds Availability Act and Federal Reserve System Regulation CC. 
 

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