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Funds Availability

Flint Community Bank Funds Availability

Purpose of This Disclosure

The information here describes out policy of holding deposited items in a transaction account before funds are made available to you for withdrawal. This is our Funds Availability Policy. In summary, our policy is to make your funds available on the first Business Day after the day of deposit. Please refer to the section DETERMINING THE AVAILABILITY OF YOUR DEPOSIT for the complete policy. 

For purposes of this disclosure, the terms "you"/"your" refer to the customer and the terms "our"/"we"/"us" refer to Flint Community Bank. Generally, transaction account are accounts which would permit an unlimited number of payments by check to third persons, and also an unlimited number of telephone and preauthorized transfers to third person or other accounts you may have with us. 

Determining the Availability of your Deposit

The length of the delay varies depending on the type of deposit and is explained below. When we delay your ability to withdraw funds from a deposit, you may not withdraw the funds in cash, and we will not pay checks you have written on your account by using these funds. Even after we have made funds available to you and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit. When we delay your ability to withdraw funds, the length of the delay in counted in Business Days from the day of your deposit.The term "Business Day" means any day other than Saturday, Sunday, or federally declared legal holiday. The term "Banking Day" means that part of any Business Day on which we are open to the public for carrying on substantially all of our banking functions. If you make a deposit before the close of the business 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 close of business or on a day that we are not open, we will consider the deposit made in the next Business Day we are open.  

Availability Schedule

Same Day Availability. Funds from electronic direct deposits to your account will be available on the day we receive the deposit. In addition, funds from deposits of:

  • Cash (if made in person to an employee of Flint Community Bank)
  • Checks drawn on us
will also be available on the day of deposit. 
Next Day Availability. Funds from deposits of wire transfers and funds made from the following checks will be available on the first Business Day after the day of deposit:
  • U.S. Treasury checks (if payable to you and deposited into your account)
  • U.S. Postal Service money orders (if payable to you and deposited into your account, and the deposit is made in person to an employee of Flint Community Bank*)
  • Federal Reserve Bank or Federal Home Loan Bank checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of Flint Community Bank*)
  • State or Local Government checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of Flint Community Bank*)
  • Cashier's. Certified, or Teller's checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of Flint Community Bank*)
  • If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposit will be available no later then the second Business Day after the day of your deposit. 
Other Check Deposits. Funds from all other check deposits will be available on the first Business Day after the day of your deposit. 

Longer Delays May Apply

In some cases, we will not make all of the funds that you deposit by check available to you according to the previously stated availability schedule. Depending on the type of check that you deposit, funds may not be available until the first Business Day after the day of your deposit. The first $200.00 of your deposits, however, may be available on the first Business Day after the day of deposit. If we are not going to make all of the funds from your deposit available to you according to the previously stated availability schedule, 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 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.

Funds you deposit by check may be delayed for a longer period under the following circumstances:

  • If we believe a check you deposit may not be paid
  • If you deposit checks totaling more than $5,000 on any one day
  • If you redeposit a check that has been returned unpaid
  • If you have overdrawn your account repeatedly in the last six months
  • If 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.

Special Rules for New Accounts

If you are a new customer, the following special rules will apply during the first 30 days your account is open.

Same Day Availability. Funds from electronic direct deposits, cash (if made in person to an employee of Flint Community Bank*) and wire transfers made to your account will be available on the day we receive the deposit. In addition, the first $5,000.00 of a day's total deposits of:

  • Federal Reserve Bank or Federal Home Loan Bank checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of Flint Community Bank*)
  • State or Local Government checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of Flint Community Bank*)
  • Cashier's. Certified, or Teller's checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of Flint Community Bank*)

Next Day Availability. Funds from the first $5,000.00 of a day's total deposit of:

  • U.S. Treasury checks (if payable to you and deposited into your account)
  • U.S. Postal Service money orders (if payable to you and deposited into your account, and the deposit is made in person to an employee of Flint Community Bank*)
  • Traveler's Checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of Flint Community Bank*)
  • Checks drawn on us
are available on the first Business Day after the day of your deposit. 
 
Funds from all other check deposits will be available on the second Business Day after the day of deposit. 
 

Endorsing Your Checks

When you endorse a check your signature should fall within the prescribed area designated on the back of your check. Please be sure that your signature(s) does not run-over to any other area on the back of the check.