Funds Policy

Funds Availability Policy

Effective July 21, 2011

Your Ability to Withdraw Funds

The availability of funds deposited into checking accounts (including N.O.W. Accounts and Money Market Checking Accounts) depends on the type of deposit. For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, and federal holidays. Deposits received after 5:00 p.m., or on a day which is not one of our business days, will be considered deposited to your account as of the next business day. Automated Teller Machine (ATM) deposits made after 5:00 p.m., or on a day which is not one of our business days, will be considered deposited to your account as of the next business day. ATM transfers are always available immediately. Any deposit made through the mail will be considered deposited on the business day it is received by us in the mailroom. Any deposit made through the night depository will be considered deposited on the business day it is received by us in the night depository box.

We will provide immediate access to funds from electronic direct deposits, including pre-authorized credits, such as social security benefits and payroll payments, and wire transfers on the day we receive the deposit. We cannot accept cash deposits through the mail.

Funds from the deposit of checks drawn on Baytree National Bank & Trust Co. as well as U.S. Treasury checks, Federal Reserve Bank checks, Federal Home Loan Bank checks, U.S. postal money orders, cashier's checks, certified checks, cash, teller checks or checks drawn on a state or local government located in Illinois will be available on the first business day after the business day of your deposit. A special deposit slip available from a personal banker is required to obtain next day availability of state or local government checks, cashiers, certified and teller checks. Deposits must be made in person and in the account held by the payee to receive next day availability. 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 the deposit. Once the funds are available, you can withdraw them in cash and we will use them to pay checks that you have written.

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 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 a 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 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 fifth 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 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 on the first 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 fifth business day after the day of your deposit.

If you have any questions regarding this policy, or about the availability of any deposit you make, please contact us toll free at 1-877-936-2265.

Revised July 21, 2011