Funds Availability Policy

Details About Your Ability to Withdraw Funds

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. Funds from electronic direct deposits will be available on the day we receive your deposit. Once the funds are available, you can withdraw them in cash, or we will use them to pay checks or other items that are presented for payment against your account.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and Federal Holidays. If you make a deposit through a Limestone Bank teller during posted business hours on a business day that we are open, we will consider that day to be the day of deposit. However, if you make a deposit after branch business hours or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

If a deposit is made at a Limestone Bank Automated Teller Machine (ATM) or through Limestone Bank Mobile Banking before 7:00 p.m. ET on a business day that we are open, we will consider that day to be the day of the deposit. However if the deposit at an ATM or through Mobile Banking is made after 7:00 p.m. ET or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Reservation of Right to Hold

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

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 next business day after we receive your deposit.

Longer Delays May Apply

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

  • You deposit checks totaling more than $5,000 on any one day.
  • You deposit a check that has been returned unpaid.
  • You have overdrawn your account repeatedly in the last six months.
  • We believe a check you deposit will not be paid.
  • There is an emergency, such as failure of computer or communications equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will inform you when the funds will be available. They will generally be available no later than the seventh business day after the day of the deposit.

Holds on Other Funds

If we cash a check for you that is drawn on another financial institution, 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.

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 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, 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 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 after the day of your deposit.

Funds from deposits of checks drawn on Limestone Bank will be available on the first 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 the deposit.

Change in Terms

We will send a notice to you at least 30 days before implementing a change to our funds availability policy except when the change expedites the availability of funds, then the notice will be sent within 30 days after implementation.

Note: The above disclosure will be given to all customers at the time of account opening and will be given to any customer upon request.