Fort Worth Telco Credit Union
Funds Availability Policy
Disclosure


When a member makes a deposit into a share draft account, our policy in most cases is to make funds available sooner than the Regulation requires. While deposited checks are in the clearing process, we may delay the availability of some funds.

Type of Deposit When Funds Are Available When Funds are Available if a deposit is made on Monday
1. Cash and Direct Deposit Same business day except for cash deposited at an ATM Monday
  First business day after day of deposit if deposited at ATM Tuesday
2. Wire Transfers Next business day Tuesday
3. US Treasury Checks Preauthorized Credit-On Us Checks-Texas State & Local Govmt. Checks-Cashier's, Certified & Teller's Checks-FRB & FHLB Checks- Postal Money Orders First business day after the day of deposit Tuesday
4. Local Checks $100 on the first business day after the day of deposit Tuesday
  Remaining funds on the second business day after the day of deposit Wednesday
5. Non-Local Checks $100 on the first business day after the day of deposit Tuesday
  Remaining funds on the fifth Business day after day of deposit Monday of the following week
*Note: These are maximums, and in some cases, funds may be available sooner than this schedule indicates
Note the length is counted in Business Days from the day of your deposit. If you make a deposit before the close of business on a Business Day, we will consider that day to be the day of deposit. A deposit made after the close of business on a Business Day, will be considered a deposit to be made on the next Business day.
Revised January 8, 1996

LONGER DELAYS MAY APPLY
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 that $5,000.00 on any one day.
  • Redeposited checks that have been returned unpaid.
  • You have overdrawn your account repeatedly in the last six months.
  • There is an emergency, such as failure of communication or computer equipment.
  • If your deposit contains any of the following items:
    1. Insurance Drafts
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 that the 9th business day after the day of you deposit.

SPECIAL RULES FOR NEW ACCOUNTS
If you are a new member, the following rules may apply during the first thirty (30) days your account is opened.

The first $5,000 from a deposit of U.S. Treasury checks and State Government checks will be available on the first Business Day after the Business Day of your deposit. The excess over $5,000 will be available no later that the ninth Business Day after the Business Day of your deposit. Funds from wire transfers into you account will be available no later than the first Business Day after the Business Day we receive the deposit.

The first $5,000 of a day's total deposits of cashier's, certified, teller's, traveler's, and local government checks will be available on the first Business Day after the Business Day of your deposit if the deposit meets certain conditions. For example, the check must be payable to you. The excess over $5,000 will be available no later than the ninth Business Day after the Business Day of your Deposit.

Funds from cash deposits and all other checks deposits will be available in accordance with the availability schedule for all other deposits as provided for existing accounts. Notwithstanding the above, however, if you have not provided to us all required documentation in connection with opening a new account, we will not consider the account "established" and may not permit any withdrawals until the required documentation is provided.

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 which are already in you account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.