This policy statement applies to "transaction" accounts. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of yours with us. Checking accounts are the most common transaction accounts. Feel free to ask us whether any of your other accounts might also be under this policy.
Our policy is to make funds from your cash or 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 the funds to pay checks that you have written. Please remember that even after we have made funds available to you and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
For determining the availability of your deposits every day is a business day, except Saturdays, Sundays, and federal holidays.
If you make a deposit before the following cutoff times Monday through
2:00 PM at the New Bethlehem Office
2:30 PM at the Clarion Office
3:15 PM at the Cranberry Office
3:30 PM at the Franklin Office
4:00 PM at the Oil City Office
4:00 PM at the Fryburg Office (Monday through Thursday)
7:00 PM at the Fryburg Office (Friday)
we will consider that day to be the day of your deposit.
If the deposit is received after the cutoff time listed above, we will consider that the deposit was made on the next business day we are open.
If you make a transfer using FON FUNB (Telephone Banking) or INTERNET BANKING before 4:00 PM Monday through Friday, on a business day that we are open, we will consider that day to be the day of your deposit. A deposit processed after 4:00 PM will be considered a deposit on the next business day we are opened.
If you make a deposit at an ATM before 12:30 PM (Cutoff times may be later on some days or at some locations) on a business day that we are open, we will consider that day to be the day of your deposit. Funds from that deposit will be available on the first business day after the day of deposit. If you make a deposit at an ATM after 12:30 pm on a day we are not open, we will consider that the deposit was made on the next business day we are open.
Case-By-Case Delays - 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 deposit, however, may be available on the first business day after the day of your deposit.
If we are not going to make all of the funds from your deposit available on the first business day after we receive your deposit, 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 first business 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.
Safeguard Exception Delays - 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 seventh business day after the day of your deposit.
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