Funds Availability Policy Disclosure – Your ability to Withdraw Funds

PURPOSE OF THIS DISCLOSURE.  Our Funds Availability policy is summarized below. For purposes of this disclosure, the terms “you”/”your” refer to the customer and the terms “our”/”we”/”us” refer to Peoples Savings Bank of Rhineland (PSB). The term “account” includes any demand deposit, negotiable order of withdrawal account, money market account, or other non-time deposit account. PSB also holds this same availability timing on deposits made to savings accounts.

IMPORTANT DEFINITIONS.

• Business Day: Every day is a business day, except Saturdays, Sundays, and Federal holidays.
• Cut-Off Time: If you make a deposit Monday through Friday on a business day that we are open prior to the time listed below, we will consider that day to be the day of your deposit. However, if you make a deposit after the cut-off times or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

DETERMINING THE AVAILABILITY OF YOUR DEPOSIT.  Our policy is to make funds from your deposits available to you as quickly as possible while ensuring the security and integrity of your account. Depending on the type of deposit you make, funds may be available immediately, on the next business day, or within a specified period as outlined below.

AVAILABILITY SCHEDULE

Same Day Availability. Funds from the following will be available on the day of deposit unless suspicious activity is detected:

• Cash – If the cash deposits are made in person to an employee of PSB (at a branch or live ATM) by the cut-off time of the branch or Live ATM as shown above, then the funds may be made available on the day we receive your deposit. If the deposits are not made in person to an employee, then the funds may be made available no later than the second Business day after the day of your deposit.
• Electronic Direct Deposits
• Wire Transfers
• FedNow Deposits
• If you make a deposit at a PSB Depository ATM (not live) before 2:00pm Central Time (CT) on a business day we are open, we will consider the deposit accepted that day.
• If you make a deposit via mobile deposit before 2:00pm Central Time (CT) on a business day we are open, we will consider the deposit accepted that day.

Next Day Availability. Funds from the following must be made payable to you and deposited into your account in person to an employee of PSB (at a branch or live ATM) by the cut-off time of the branch or Live ATM as shown above . These funds will be available on the first Business day after the day of deposit:

• S. Treasury checks
• S. Postal Service money orders
• Federal Reserve Bank or Federal Home Loan Bank checks
• State or Local Government checks
• Cashier’s, Certified, or Teller’s checks
• Checks drawn on us
• If you make a deposit at a PSB Depository ATM (not live) after 2:00pm CT we will consider the deposit accepted on the next business day that we are opened.
• If you make a deposit via mobile deposit after 2:00pm CT we will consider the deposit accepted on the next business day that we are opened.

Other check deposits – 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. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.  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 at the time funds from the check we cashed would have been available if you had deposited it.

If any of these conditions are not satisfied, then the funds from these check deposits may be made available no later than the second Business day after the day of your deposit.

Longer Delays May Apply. In some cases, we will not make all 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. However, the first $275.00 of your deposit will be available on the first business day after the day of your deposit.

Funds you deposit by check may be delayed for a longer period under the following circumstances (this list is not all inclusive):

• We believe a check you deposit will not be paid for the following reasons:
  • We received notice that the check is being returned unpaid.
  • We have confidential information that indicates that the check may not be paid.
  • The check is drawn on an account with repeated overdrafts.
  • We are unable to verify the endorsement of a joint payee.
  • Information on the check is not consistent with other information on the check.
  • There are erasures or other apparent alterations on the check.
  • The routing number of the paying bank is not a current routing number.
  • The check is postdated or has a stale date.
  • Information from the paying bank indicates the check may not be paid.
  • We have been notified that the check has been lost or damaged in collection.
• You deposit checks totaling more than $6,725.00 on any one day.
• You re-deposit a check that has been returned unpaid.
• You have overdrawn your account repeatedly in the last six months.
• There is an emergency, such as a failure of computer or communications equipment.

SPECIAL NOTES FOR MOBILE DEPOSITS. For checks deposited via our mobile banking app:

• Endorse the back of the check with “For Mobile Deposit Only at Peoples Savings Bank of Rhineland” and your signature.
• Retain the check for at least seven days after the deposit is confirmed.

YOUR RIGHTS AND RESPONSIBILITIES. You will be notified if there are any delays in the availability of your funds, and we will provide you with the reason for the delay and the expected availability date. It is your responsibility to ensure that deposited funds are available in your account before initiating transactions or withdrawals.

Please remember that even after we have made the funds available to you and you have withdrawn the funds, you are still responsible for cash, checks, wires, and electronic deposits you deposit that are returned to us as unpaid, deemed to be fraudulent, and for any other problems involving your account.

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 $6,725.00 of day’s total deposits of cashier’s, certified, 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 may have to use a special deposit slip. The excess over $6,725.00 will be available on the ninth 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.

CONTACT US. If you have any questions about this policy or the availability of your funds, please call us at 573-409-4057 or visit your nearest branch. We are here to assist you and ensure your banking experience is smooth and secure.

This Funds Availability Policy Disclosure is subject to change. The most current version will always be available at www.ourpsb.com or upon request at any branch location.