Next-Day Availability Increase from $200 to $225
Exception Holds for Large Deposits Increase from $5,000 to $5,525
Exception Hold for New Accounts Increase from $5,000 to $5,525
1150 Purchase Street
New Bedford, MA 02740
508.994.6546 · nbcu4u.com
FUNDS AVAILABILITY CHANGE
Effective July 1, 2020
ABILITY TO WITHDRAW FUNDS
This policy is the explanation of the possibility of delaying the availability
of funds from your cash and check deposits. During the delay, you may not
withdraw funds in cash, we will not use the funds to pay checks that you have
written, or pay for purchases you have made with your debit card.
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
or state holidays. If you make a deposit on a business day that we are open,
we will consider that day be the banking day of deposit. However, if you make
the deposit after we close, or on a day we are not open, we will consider that
deposit to have been made on the next business day we are open. The length
of the delay varies on the type of deposit and is explained below.
Same Day Availability
Funds from cash, electronic direct deposits, and checks drawn on this
institution will be available the day we receive the deposit.
Next Day Availability
If you make the deposit in person to one of our employees, funds from the
following deposits are available on the rst business day following the banking
day of deposit:
• U S Treasury checks that are payable to you
• Wire transfers
• Cashier’s, certied, and teller checks that are payable to you
• Federal Reserve Bank checks, Federal Home Loan Bank checks, and U S
Postal money orders, if these items are payable to you
• State and local government checks that are payable to you
If you do not make your deposit in person to one of our employees (for example,
if you mail the deposit), funds from these deposits will be available on the
second business day following the banking day of your deposit.
Other Checks
The rst $225 from a deposit of other checks will be available on the rst
business day following the banking day of deposit. The remaining funds will
be available on the second business day following the banking day of your
deposit. For example, if you make a $700 deposit of other checks on Monday,
$225 will be available on Tuesday and the remaining $475 will be available on
Wednesday.
LONGER DELAYS MAY APPLY
Funds you deposit by check may be delayed for a longer period under the
following circumstances:
• You deposit checks totaling more than $5,525 on any one day
• We believe a check you deposit will not be paid*
• You redeposit a check that has been returned unpaid*
• You have overdrawn your account repeatedly*
• There is an emergency such as a 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 following the
banking day of your deposit.
*The $225 rule does not apply
SPECIAL RULES FOR NEW ACCOUNTS
If you are a new member, during the rst 30 days after the account is
established the $225 rules does not apply and the availability schedules do not
apply except for:
• Funds from electronic deposits to your accounts will be available on the
rst business day following the banking day of deposit
• Funds from deposits of cash, wire transfers and the rst $5,525 of a day’s
total deposits of cashier’s, certied, traveler’s, and federal,state and local
government checks, and Federal Reserve Bank checks, Federal Home
Loan Bank checks, and U S Postal money orders will be available on the
rst business day after the banking day of deposit if the deposit meets
certain conditions. For example, the checks must be payable to you. The
excess over $5,525 will be available to you on the seventh business day
following the banking day of 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 rst $5,625 will not be available until the second business
day following the banking day of deposit
Funds from other check deposits will generally be available on the seventh
business day following the banking day of deposit.
DEPOSITS MADE AT THE AUTOMATIC TELLER MACHINE
Only NBCU members with an active NBCU ATM or Visa Check & ATM card
can deposit at an NBCU ATM. Funds from deposits made at an NBCU ATM
are not immediately available. An automatic hold is immediately placed on
all deposits. When deposit is veried the hold status is reviewed and may be
removed or extended depending on the items deposited. Holds that are not
removed are subject to the Funds Availability policy outlined here. Funds
deposited prior to 2:00 pm will be treated as deposited that day. Funds from
deposits made after 2:00 pm will be treated as deposited the next business day.
All ATMs that NBCU owns and operates are identied as our machines.
MOBILE DEPOSITS
If you make a deposit after 2:00 pm ET using the NBCU Mobile Application
or on a day NBCU is closed will be considered deposited on the next business
day NBCU is open. A two business day hold is placed automatically when
deposit is made. When deposit is veried the hold status is reviewed and may
be removed or extended depending on the item(s) deposited. Holds that are
not removed are subject to the Funds Availability policy outlined here. Before
making a mobile deposit, please endorse the back of the check with the words
“For NBCU Mobile Deposit Only” or the check will be refused for deposit.
Insured by NCUA
Bankers Group Purchasing, Waltham MA 02453