Funds Availability

THIS POLICY STATEMENT APPLIES TO ALL DEPOSIT ACCOUNTS. 

Funds Availability for Cash Deposits. If you deposit cash funds in person with an employee of our physical branch in Hattiesburg, MS, then the funds will be available for withdrawal not later than the business day after the banking day on which the cash is deposited. If you deposit cash, but not in person with an employee of our physical branch in Hattiesburg, MS, such as at our network ATM or at our retail store agent, then the funds will be available for withdrawal not later than the second business day after the banking day on which the cash is deposited.

Funds Availability for ACH Electronic Deposits. If funds are deposited into your account by ACH electronic deposit, including wires, then the funds will be available for withdrawal not later than the business day after the banking day on which we received the ACH electronic deposit. An ACH electronic deposit is deemed received when we have received both payment in actually and finally collected funds and information on the account and the amount to be credited.

Funds Availability for Checks Deposited in Person. If you deposit a certain check in person with an employee of our physical branch in Hattiesburg, MS, then the funds will be available for withdrawal not later than the business day after the banking day on which the cash is deposited. Such a certain check must be deposited in an account held by a payee of the check or money order, and is limited to the following:

  • A U.S. Treasury check;
  • A U.S. Postal Service money order;
  • A check drawn on a Federal Reserve Bank or Federal Home Loan Bank;
  • A check drawn by a state or a unit of general local government; and
  • A cashier’s, certified, or teller’s check;

For all other checks deposited in person with an employee of our physical branch in Hattiesburg, MS, then the funds will be available for withdrawal as follows:

The lesser of $225 or the aggregate amount deposited on any one banking day to all accounts of the customer by check or checks not subject to next-day availability under paragraphs (c)(1) (i) through (vi) of this section.

Funds Availability for Remote Deposit Checks. If you deposit a U.S. Treasury check using our remote deposit app on your mobile device into an account held by a payee of the check, then the funds will be available for withdrawal not later than the business day after the banking day on which the cash is deposited. If you deposit another certain check or money using our remote deposit app on your mobile device into an account held by a payee of the check or money order, then the funds will be available for withdrawal not later than the second business day after the banking day on which funds are deposited. Such other certain check or money order is limited to the following:

  • A U.S. Postal Service money order;
  • A check drawn on a Federal Reserve Bank or Federal Home Loan Bank;
  • A check drawn by a state or a unit of general local government; and
  • A cashier’s, certified, or teller’s check;

For all other checks deposited using our remote deposit app on your mobile device into an account held by a payee of the check, then the funds will be available for withdrawal as follows:

The lesser of $225 or the aggregate amount deposited on any one banking day to all accounts of the customer by check or checks not subject to next-day availability under paragraphs (c)(1) (i) through (vi) of this section.

 

Banking day means that part of any business day on which our physical branch in Hattiesburg, MS is open to the public for carrying on substantially all banking functions, which open hours are also applicable to the time zone of where you physically make your network ATM, retail store agent, or remote deposit. For instance, if the Hattiesburg, MS branch is open from 9:00 a.m. to 4:00 p.m. Central Time, and you make a retail store agent deposit in Oregon, then your deposit time is from 9:00 a.m. to 4:00 p.m. Pacific Time, and if you make a retail store agent deposit in Virginia, then your deposit time is 9:00 a.m. to 4:00 p.m. Eastern Time.

Business day means a calendar day other than a Saturday or a Sunday, January 1, the third Monday in January, the third Monday in February, the last Monday in May, July 4, the first Monday in September, the second Monday in October, November 11, the fourth Thursday in November, or December 25. If January 1, July 4, November 11, or December 25 fall on a Sunday, the next Monday is not a business day.

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, 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
  • You deposit checks totaling more than $5,525 on any one
  • You redeposit a check that has been returned
  • You have overdrawn your account repeatedly in the last six
  • There is an emergency, such as failure of computer or communications

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 ten business days after the date 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 $5,525 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, 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 $5,525 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 $5,525 will 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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Please Note

You are leaving Grand Bank for Savings, fsb. By clicking OK, you will be taken to a website that is not affiliated with Grand Bank for Savings, fsb. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Grand Bank for Savings’ website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Grand Bank for Savings, fsb.

Please Note

You are leaving Grand Bank for Savings, fsb. By clicking OK, you will be taken to a website that is not affiliated with Grand Bank for Savings, fsb. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Grand Bank for Savings’ website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Grand Bank for Savings, fsb.

Please Note

You are leaving Grand Bank for Savings, fsb. By clicking OK, you will be taken to a website that is not affiliated with Grand Bank for Savings, fsb. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Grand Bank for Savings’ website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Grand Bank for Savings, fsb.

Please Note

You are leaving Grand Bank for Savings, fsb. By clicking OK, you will be taken to a website that is not affiliated with Grand Bank for Savings, fsb. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Grand Bank for Savings’ website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Grand Bank for Savings, fsb.

Please Note

You are leaving Grand Bank for Savings, fsb. By clicking OK, you will be taken to a website that is not affiliated with Grand Bank for Savings, fsb. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Grand Bank for Savings’ website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Grand Bank for Savings, fsb.

Warning!

You are leaving Grand Bank for Savings, fsb. By clicking OK, you will be taken to a website that is not affiliated with Grand Bank for Savings, fsb. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Grand Bank for Savings’ website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Grand Bank for Savings, fsb.

Please Note

You are leaving Grand Bank for Savings, fsb. By clicking OK, you will be taken to a website that is not affiliated with Grand Bank for Savings, fsb. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Grand Bank for Savings’ website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Grand Bank for Savings, fsb.