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Funds Availability Policy

 

FUNDS AVAILABILITY DISCLOSURE

 CommunityBank of Texas, N.A.
5999 Delaware

Beaumont, TEXAS 77706

This policy statement applies to all deposit accounts.

The policy of CommunityBank of Texas, N.A. is to make funds from your 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 they are available, you can withdraw the funds 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Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.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 Bank and/or federal holidays. If you make a deposit during regular business hours, we will consider that the day of your deposit. Business hours vary by location and all items received during posted operating hours, Monday through Friday, will be considered received on the current business day. Other items will be considered received on the next business day. Our business days and hours are posted at our branches and are subject to change from time to time at our discretion.

If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.

LONGER DELAYS MAY APPLY

In some cases, we may 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. However, the first $200 of your deposits will be available on the first business day after we receive your deposit.

If we are not going to make all 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 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. 

In addition, funds you deposit by check may be delayed for a longer period under the following circumstances: 

  1. We believe a check you deposit will not be paid.
  2. You deposit checks totaling more than $5,000 on any one day.
  3. You redeposited a check that has been returned unpaid.
  4. You have overdrawn your account repeatedly in the last six (6) months.
  5. 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 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.

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 $5,000 of a day's total deposits of cashiers, certified, teller's, travelers, 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 $5,000 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 $5,000 may 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 eleventh business day after the day of your deposit.

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