Our general policy is to allow you to withdraw funds deposited in your account on the same business day or the first business day after the day we receive your deposit.

DETERMING 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 holidays

SAME-DAY AVAILABILITY

Our general policy is to allow you to withdraw funds deposited in your account on the first business day after the day we receive your deposit. If you make the deposit in person to one of our employees, funds from the following deposits are also available on the same business day of your deposit: Cash, checks payable through Banner Federal Credit Union, wire transfers, US Treasury checks payable to you, State and local government checks that are payable to you, Federal Reserve Bank checks, Federal Home Loan Bank checks, postal money orders, that are payable to you, and Banner Health payroll checks. NOTE: Longer Delays may apply to checks over $5,000.00. Funds from electronic direct deposits will be available on the day we receive the deposit. In some cases, we may delay your ability to withdraw funds beyond the first business day. Exceptions: When deposits of any type listed above are not made in person the funds may not be made available by the second business day. Deposits, cash or check, made at an ATM that do not belong to Banner Federal Credit Union, will be made available by the fifth business day. Any type of check deposit made through a Banner Federal Credit Union affiliate (AKA Shared Branching Network) will be made available the following business day unless longer delays apply. We will notify you in writing if we delay your ability to withdraw funds for any reason, and we will tell you when the funds will be available. They will generally be available no later than the eleventh business day after the day of your deposit.

NEXT-DAY AVAILABILITY

For local or non-local checks deposited into your checking account, $100.00 will be released the following business day if all funds are not available immediately.

OTHER CHECK DEPOSITS

• A check is considered “local” if your institution is located in the same check-processing region as the paying institution. Funds from local checks must be made available by the second business day following the day of deposit or up to a maximum of seven (7) business days with reasonable cause.
• A check is considered “non-local” if your institution is not located in the same check-processing region as the paying institution. Funds from non-local checks must be made available by the fifth business day following the day of deposit or up to a maximum of eleven (11) business days for reasonable cause

FOREIGN CHECKS

Checks drawn outside the U.S. or US territories are not governed by Regulation CC and will not be deposited into the account until funds are collected, which may take 14 business days or longer.

LONGER DELAYS MAY APPLY

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

•  We have reasonable cause to 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 previously 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 eleventh business day after the day of your deposit.

SPECIAL RULES FOR NEW ACCOUNTS

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

Funds from deposits of cash, wire transfers, and the first $5,000 of a day’s total deposits of  valid cashier’s, certified, teller’s, traveler’s, and federal, state and local government checks will be available on the same business day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The deposit must be made in person to one of our employees. We have no reason to believe the check may not be paid. The excess over $5,000 will be available by the seventh business day after the day of your deposit.

In any case, We reserve the right to refuse any item for deposit or encashment.