Check Hold Policy
YOUR ABILITY TO WITHDRAW FUNDS AT APPLE FCU
Our general policy is to make funds from your deposits made at all locations available to you on
or before the first business day after the day we receive your deposit. At that time, you can
withdraw the funds and we will use the funds to pay checks that you have written.
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 closing time on a business day that
we are open, we will consider that day to be the day of your deposit.
Payroll checks are subject to the holds described in this policy.
RIGHTS RESERVED
Apple FCU reserves the right to:



Accept or reject any check for deposit
Revoke any settlement with respect to a check accepted by us and to charge back to
your account the amount of the check based on the return of the check or a receipt of
notice of nonpayment of the check, or claim a refund for such credit
Require that the space reserved for endorsement by Apple FCU on the back of any check
accepted for deposit be free and clear of any prior markings or endorsements.
NEXT-DAY AVAILABILITY
Funds from the following deposits are available on or before the first business day after the
receipt of your deposit:








U.S. Treasury checks
Wire transfers, including pre-authorized credits, such as social security benefits and
payroll payments.
Check drawn on Apple FCU (On-Us checks)
Checks drawn on any bank in an amount less than $500
State and local government checks
Cashier’s, certified, and teller’s checks
Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders
Cash.
OTHER DEPOSITS
Checks deposited in the amount of $500 or more will generally be made available on the 2 nd
business day after the day of your deposit unless one of the exceptions listed below applies to
the check being deposited.
NEW ACCOUNTS
An account is defined as a new account during the first 30 calendar days after it is opened. For
all deposits, funds will be available on the 7th business day after the day of deposit.
TWO PARTY CHECKS
A two party check lists two parties in the payee field. Two party checks in excess of $500 will be
held four (4) business days after the day of deposit. The first $100 will be available on the
business day following the day of deposit.
THIRD PARTY CHECKS
Third party checks in excess of $500 will be held four (4) business days after the day of deposit.
The first $200 will be available on the business day following the day of deposit. The signature
of all payees must be verified on third party checks in excess of $5,000.
LONGER DELAY 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 $5,000 on any one day
You redeposit a check that has been returned unpaid
You have overdrawn your account repeatedly in the last six (6) months
There is an emergency, such as a 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
11th business day after the day of your deposit and may go into a non-transaction account.