FUNDS AVAILABILITY / Check Holds

Next Business Day Items That HOTFCU Does Not Place On Hold (1 DAY HOLD)

·         Cash               

·         On-us checks

·         Treasury, state, and  local government checks ***

·         U.S. Postal Money Orders***

·         Checks drawn on Federal Reserve Bank or Federal Home Loan Bank***

·         Cashier’s Checks***

***If we feel there is something suspicious about the check or money order, you will have the option of agreeing to let us put it in your share account until it clears, sending it for collection, or taking the check elsewhere.

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Second Business Day Items (All other checks) (must be available on the second business day after deposit) ($100 available next business day) (2 DAY HOLD):

·       All checks not listed as a Next Business Day Item and If not deposited in person

·         Treasury, state, and local government checks***

·         U.S. Postal Money Orders***

·         Checks drawn on Federal Reserve Bank or Federal Home Loan Bank***

·         Cashier’s Checks***

           ***If we feel there is something suspicious about the check or money order, you will have the option of agreeing to let us put it in your share account until it clears, sending it for collection, or taking the check elsewhere.

 Above are standard holds that we may place on your deposit. Below are reasons an extended hold of 5 business days may be added for a total hold of 7 business days or longer on new accounts.

Up to 9 days if the account is less than 30 days old. (HOTFCU chooses to have this option as a guideline for new accounts)	Member was overdrawn 6 or more days in the past 6 months.	Emergency has occurred such as computer failure.
The deposited item was previously returned.	Collectability is doubted.	Checks deposited exceed $5,000.  First $5,000 is still subject to standard availability anything over that can have extended hold.

Extended Hold Conditions:

If for any reason the collectability of a check(s) is in question, HOTFCU reserves the right to deposit the check(s) in your share account with a hold of up to 10 business days.

If funds not deposited in person are placed on hold or on an extended hold either when the deposit is made or after  the deposit is made, you will be given or sent a Notice of Hold.  Holds are calculated based on business days, not calendar days.