Funds Availability

A State Bank Group Banking ServiceAs a customer of our financial services, you need to know when the funds you deposit by check to your accounts are available for you to withdraw and use...

Funds availability. What is it?

Funds availability refers to the time that passes before funds deposited into your account are actually available to you for check writing and cash withdrawals. Our policy has been designed to give you quality service, meet regulatory Funds Availability After Depositrequirements and protect both you and ourselves from loss.

If we decide to change or further improve any of the availability schedules listed in this disclosure, we will notify you within 30 days of any such change. This information should take some of the guesswork out of the management of your personal finances.  

Your ability to withdraw funds at Wonder Lake, Johnsburg, Spring Grove, Lakemoor, and Hebron State Bank, includes Harvard Savings on N. Ayer St and also N. Division Street.

Funds Availability Disclosure 

Our policy is to make funds from your check deposits availalbe to you on the first business day after the day we receive the deposit.  Cash and electronic direct deposits will be available on the day we receive the 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.

Determining the Availability of a Deposit

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. 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 the deposit was made on the next business day we are open. 

Longer Delays May Apply

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 communications or computer 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 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 on 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 will not be available until the second business day after the day of your deposit.

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

Holds on Other Funds (Check Cashing)

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.




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