This policy statement applies to “transaction” accounts. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of yours with us. Checking accounts are the most common type of transaction accounts. Feel free to ask us whether any of your other accounts might also be under this policy.
Our policy is to make funds from your cash and check deposits available to you on the first business day after the business day we receive your deposit, subject to certain delays provided by law and this Agreement. Electronic direct deposits and wire transfers will be available on the day we receive the deposit, provided that we receive the deposit before 6 p.m. CT.
Once the funds are made available to you, you may make transactions with those funds. Transactions in general are: cash withdrawals at the ATM or at a branch, writing checks, debit card point-of-sale purchases, transfers from one account to another account via the branch, phone, internet, or ACH. Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
If you make a deposit at an ATM before 4 p.m. 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 at an ATM after 4 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open. On the day of your ATM deposit(s) $100 will be immediately available for withdrawal using an ATM or Debit card at a Point-of-Sale. The remaining amount of that deposit(s) will be available on the next business day.
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 that business day’s cut-off time, we will consider that day to be the day of your deposit. Cut-off times can vary by location. Bremer’s earliest branch cut-off time is 2 p.m. CT, most branches have a 3 p.m. CT cut-off time or 4 p.m. CT at the ATM. Please check with your branch to determine the local cut-off time. If you make a deposit after the cut-off time or on a day we are not open, we will consider that the your deposit was made on the next business day we are open. Deposits made after the cut-off time on Friday or on Saturday or Sunday, and Monday prior to cut-off time are all considered to be Monday’s business day.