Funds Availability Policy

Funds Availability Policy from Marquette

View our Funds Availability Policy PDF

This disclosure describes your ability to withdraw funds at Marquette Savings Bank. It only applies to the availability of funds in transaction accounts. The bank reserves the right to delay the availability of funds deposited to accounts that are not transaction accounts for periods longer than those disclosed in this policy. Please ask us if you have any questions about which accounts are affected by this policy.

Your Ability to Withdraw Funds

Cash & Check Deposits

Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit.

  • Business Days. 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 2:00 EST 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 2:00 EST or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

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Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

Longer Delays May Apply

Depending on the type of check that you deposit and the channel you use to deposit, funds may not be available until the second business day after the day of your deposit. In most cases, the first $200 of your deposits will be available on the first business day.

  • Notification of Delay. 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 by the day after we receive your deposit. If you will need the funds from a deposit right away, ask us when the funds will be available.
  • Longer Delays. 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 months.
    • There is an emergency, such as a failure of computer or communication 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:

  • Electronic direct deposits to your account will be available on the day we receive the deposit.
  • Cash, Wire Transfers, and Other Deposits such as: the first $5,000 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.
    • The excess over $5,000 will be available on the seventh 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 after the day of your deposit.

Funds from all other check deposits will be available on the ninth business day after the day of your deposit.

Holds on Other Funds (Check Cashing)

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.

Holds on Other Funds (Other Account)

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.

Holds on Foreign Checks

Checks drawn on financial institutions located outside the U.S. (foreign checks) cannot be processed the same as checks drawn on U.S. financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds for deposits of foreign checks will be delayed for the time it takes us to collect the funds from the financial institution upon which it is drawn.

Deposits at Automated Teller Machines (ATMs)

  • The total of your cash deposits made at all ATMs will be available on the first business day after the day of your deposit to pay checks you have written.
  • The delay for check deposits at ATMs depends on whether the check deposit is made prior to or after the cut-off time. (2 p.m. on regular business days as defined above)
  • If you make a deposit prior to the cut-off time, all checks deposited will have the funds available on the second business day after the deposit.
  • If the checks deposited total more than $5,000, the amount over $5,000 will have an additional two days added to the number of days before monies are made available.
  • If you make a deposit after the cut-off time or on a day we are closed for business, we will consider the business day of your deposit to be the next business day we are open. Funds from checks deposited will be available on the second day after the business date of your deposit. If the checks deposited total more than $5,000, the amount over $5,000 will have an additional two days added to the number of days before monies are made available.
  • NOTE: Cut-off times at ATMs may vary.
  • Deposits at ATMs are also subject to the rules disclosed in the Electronic Funds Transfer disclosure.

Other Deposits Not Made in Person

  • Mobile Deposits. Checks deposited after 4:00 p.m. EST will be processed on the next business day. The availability of checks deposited may be delayed up to five business days from the day of deposit according to our funds availability schedule. The most you may deposit on a single business day is $10,000.
  • Remote Deposit Scanner Deposits. Checks deposited after 5:00 p.m. EST will be processed on the next business day. The availability of checks deposited may be delayed up to five business days from the day of deposit according to our funds availability schedule. The most you may deposit on a single business day will be governed by your Remote Deposit Capture (RDC) Agreement with us.
  • Night Depository Deposits. Checks deposited after 8:30 a.m. EST in any of our night depositories may be processed on the next business day. The availability of checks deposited may be delayed up to nine business days from the day of deposit according to our funds availability schedule.

The Closest Branch Location

920 Peach St. Erie, PA 16501 (814) 455-4481

or, find other convenient Marquette locations.

Nearest ATM

920 Peach St. Erie, PA 16501

or, find other convenient Marquette atm locations.

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