Funds Availability Policy
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. 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.
Determining the Availability of a Deposit
For determining the availability of your deposit, every day is a business day except Saturdays, Sundays, and Federal holidays. If you make a deposit on a business day that we are open before:
- 5:00 P.M. Mondays through Thursdays, at any of our offices, or
- 6:00 P.M. on Fridays at most of our offices, or
- 3:00 P.M. at a full-service Bryn Mawr Trust ATM,
we will consider that to be the day of your deposit. However, if you make a deposit after the times listed above or otherwise posted, or on a day that we are not open, we will consider that the deposit was made on the next business day that we are open.
Longer Delays May Apply
Funds you deposit by check may be delayed for a longer period of time 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 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 seven business days 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, treasurer’s, certified, teller’s, traveler’s, and Federal, state or local government checks, postal money orders 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 must use a special deposit slip. The excess over $5,000 will be available for withdrawal not later than the seventh business day after the day of your deposit.
- Funds from all other check deposits will be available on the seventh 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 on the second business day.
Holds On Other Funds (Other Accounts)
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. Those funds would then not be available for withdrawal until the second business day. Bryn Mawr Trust checks will be cashed up to the amount of collected funds in the account upon which the check is drawn.
Checks drawn on banks outside the United States are sent for collection instead of being deposited directly into your account. Funds will be deposited after we receive payment for the check from the bank on which it is drawn.
If there is any question concerning the availability of a particular deposit, you should address that question to any of our customer service representatives, or call us at 610-687-4BMT (610-687-4268).