Determining the availability of a deposit

The length of the delay is counted in business days from the day of your deposit. The Bank’s cut-off hour for receiving deposits is the time of branch closing which varies at different locations. A deposit or withdrawal made prior to the Bank's processing cut-off time Monday through Friday will be applied on the day it is made; a deposit or withdrawal made after the Bank's processing cut-off time or on a Saturday, Sunday, or legal holiday will be applied on the next business day.

The length of the delay varies depending on the type of deposit and is explained below.

Same Day Availability

Funds from electronic direct deposits to your account will be available on the day we receive the deposit.

Next Day Availability

Funds from the following deposits are available on the first business day after the day of your deposit:

  • U.S. Treasury checks that are payable to you.
  • Wire transfers.
  • Checks drawn on Trustco.

If you make a deposit in person to one of our employees, funds from the following deposits are also available on the first business day after the day of your deposit:

  • Cash
  • State and local government checks that are payable to you (if you use a special deposit slip available from Trustco).
  • Cashier’s, certified, and teller’s checks (if you use a special deposit slip available from Trustco).
  • Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to you.

If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available on the second day after the day of your deposit.

Checks

The first $225 from a deposit of checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit.

For example, if you deposit a check of $700 on a Monday, $225 of the deposit is available on Tuesday. The remaining $475 is available on Wednesday.

Longer Delays May Apply

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 $5,525 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.
  • You deposit a check in U.S. funds which is not drawn on a bank located in the U.S.

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.

  • 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 must use a special deposit slip available from Trustco. 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 ninth business day after the day of your deposit.