Funds Availability Policy
Your Ability to Withdraw Funds at H-E-B Federal Credit Union
Our policy is to delay the availability of funds from your cash and check deposits. During the delay, you may not withdraw the funds in cash and we will not use the funds to pay checks that you have written. Please note that this policy only applies to deposits made into your Checking Accounts and other transaction Accounts with us. Deposits into non-transaction Accounts may be subject to longer holds. Additionally, as provided in the Remote Deposit Capture Agreement, remote deposits made through the NetBranch Online Banking service may not receive funds availability in accordance with this policy. Also, deposits made at Shared Branch facilities are subject to the funds availability policy of the shared branch used to make the deposit and may not receive the same availability as set forth below. Check with the Shared Branch you are using to determine the availability of your deposit.
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 the Credit Union's cut-off time (4:30 p.m.) or before 8:00 a.m. to the night depository 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 the Credit Union's cut-off time or on a day we are not open, we will consider that the deposit was made on the next business day we are open. The length of the delay varies depending on the type of deposit and is explained below.
Funds from electronic direct deposits to your account will be available on the day we receive the deposit.
Funds from the following deposits are available on the first business day after the day of your deposit:
- U.S. Treasury checks that are payable to you
- Wire transfers, including pre-authorized credits, such as Social Security benefits and payroll payments
If you make the deposit in person to one of our employees, funds from the following deposits are also available on the first business day after the day of your deposit:
- State and local government checks that are payable to you
- Cashier's, certified, and teller's checks that are payable to you
- Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to you
- Payroll checks (must be identified as such) deposited in an account which has been established for over 6 months; this account cannot have had any NSF activity or deposit items returned
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 after the day we receive your deposit.
Other Check Deposits
For other check deposits, the first $225 of the deposit will be available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit.
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 $5,525 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 7th business day after the day of your deposit.
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.
If you have any questions, be sure to ask us.
Special Rules for New Accounts
If you are a new member, the following special rules will apply during the first 30 days your Account is open.
Funds from electronic direct deposits into your Account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,525 of a day's total deposits of cashier's, certified, teller's, traveler's, money orders 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 $5,525 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 $5,525 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 ninth business day after the day of your deposit.