Funds Availability Policy

At TopMark Federal Credit Union, our goal is to make your deposited funds available as quickly as possible. In most cases, funds are available immediately or within one to two business days. In certain circumstances, however, federal regulations permit us to delay the availability of some deposits.

During any applicable hold period, you may not withdraw the held funds in cash, and the funds may not be available to pay checks, debit card transactions, or other withdrawals.

Business Day Definition

For purposes of determining when funds are available, every day is considered a business day except Sundays and federal holidays.

Deposits made before 5:00 p.m. (or before the branch closes, if earlier) on a business day are considered received that day. Deposits made after 5:00 p.m., after the branch has closed, or on a day we are not open will be considered received on the next business day.

Deposits Generally Available Immediately

Unless a longer hold applies, funds from the following deposits are generally available immediately:

• Cash deposits
• Electronic direct deposits, including payroll and Social Security benefits
• Incoming wire transfers
• Checks drawn on TopMark Federal Credit Union
• U.S. Treasury checks deposited into an account owned by the payee
• State and local government checks deposited into an account owned by the payee
• Cashier's, certified, and teller's checks deposited into an account owned by the payee

Check Deposits

For most other check deposits, the first $275 of your total daily check deposits is generally available on the first business day after the day of deposit.

The remaining funds are generally available on the second business day after the day of deposit.

For example, if you deposit a check on Monday, the first $275 is generally available Tuesday, and the remaining funds are generally available Wednesday.

Circumstances That May Result in a Longer Hold

Federal regulations allow us to delay the availability of funds in certain situations, including when:

• Your total check deposits exceed $6,725 on any one business day.
• We believe a deposited check may not be paid.
• You redeposit a check that has previously been returned unpaid.
• Your account has been repeatedly overdrawn during the previous six months.
• There is an emergency or other condition beyond our control, such as a communications or computer system failure.
• The deposit is not made directly to a Credit Union employee (for example, deposits made by mail or certain remote deposit methods).

If we place an extended hold on your deposit, we will notify you of the reason for the delay and the date your funds will become available. In most cases, held funds will be available no later than the fifth business day after the day of deposit.

New Accounts

Special funds availability rules apply during the first 30 calendar days after a new account is opened.

During this period:

• The first $6,725 of U.S. Treasury check deposits is generally available on the first business day after deposit, with any remaining amount available on the fifth business day.
• Incoming wire transfers are generally available on the first business day after we receive the transfer.
• Cash deposits and the first $6,725 of cashier's, certified, teller's, traveler's, and state or local government checks (when payable to you and deposited into your account) are generally available on the first business day after deposit. Any amount over $6,725 is generally available on the fifth business day.
• If these eligible check deposits are not made in person to a Credit Union employee, the first $6,725 will generally be available on the second business day after deposit.
• Funds from all other check deposits will generally be available on the fifth business day after deposit.

Large Deposit Example

If you deposit $7,000 in checks on a single business day:

• The first $275 is generally available on the next business day.
• The next $5,250 is generally available on the second business day.
• The remaining $1,475 is generally available on the fifth business day.

This example is provided for illustration only. Actual availability may vary if an exception hold applies.