Funds Availability Policy
Your Ability to Withdraw Funds at Nevada Security Bank
Our general policy is to allow
you to withdraw funds deposited into your account 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. In most cases, you can withdraw the funds in cash
and/or 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. For ATM deposits that are made before 3:00 p.m. 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 3:00 p.m., or on a day that we are
not open, we will consider that the deposit was made on the next business day we
are open. Please note that we recognize all federal holidays and certain state holidays.
All branches will be closed on those days.
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. Depending on the type of check
that you deposit, funds may not be available until the fifth business day after
the day of your deposit. However, the first $100 of your deposit may be available
on the first business day. If we are not going to make all of the funds from your
deposit available on the first business day, 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 on the day
after we receive your deposit. If you 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:
-
We believe a check you deposit will not be paid.
- You deposit checks totaling
more than $5,000 on any one day.
- You re-deposit a check that has been returned
unpaid. 4
- 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 ninth 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
to 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 cashier’s checks, official checks, traveler’s checks, federal checks, state checks,
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. The excess of $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
will not be available until the second business day of your deposit. Funds from
all other checks deposited will be available on the seventh business day