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    Amerant - Funds-Availability-Policy

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    This policy outlines Amerant Bank's funds availability for different types of deposits. Same-day availability applies to electronic deposits and deposits made in person with cash or certain checks. For other check deposits, $225 is available the first day and the remainder the second day. Longer delays may apply under certain circumstances such as large deposits or repeated overdrafts. The policy provides more details on availability timelines for new accounts, non-transaction accounts, and foreign checks.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Amerant - Funds-Availability-Policy

    Uploaded by

    scribd01
    131 views1 page
    This policy outlines Amerant Bank's funds availability for different types of deposits. Same-day availability applies to electronic deposits and deposits made in person with cash or certain checks. For other check deposits, $225 is available the first day and the remainder the second day. Longer delays may apply under certain circumstances such as large deposits or repeated overdrafts. The policy provides more details on availability timelines for new accounts, non-transaction accounts, and foreign checks.

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    This policy outlines Amerant Bank's funds availability for different types of deposits. Same-day availability applies to electronic deposits and deposits made in person with cash or certain checks. For other check deposits, $225 is available the first day and the remainder the second day. Longer delays may apply under certain circumstances such as large deposits or repeated overdrafts. The policy provides more details on availability timelines for new accounts, non-transaction accounts, and foreign checks.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    131 views1 page

    Amerant - Funds-Availability-Policy

    Uploaded by

    scribd01
    This policy outlines Amerant Bank's funds availability for different types of deposits. Same-day availability applies to electronic deposits and deposits made in person with cash or certain checks. For other check deposits, $225 is available the first day and the remainder the second day. Longer delays may apply under certain circumstances such as large deposits or repeated overdrafts. The policy provides more details on availability timelines for new accounts, non-transaction accounts, and foreign checks.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    FUNDS AVAILABILITY POLICY

    The Amerant Bank, N.A. (the “Bank”) Funds Availability Policy applies HOLDS ON OTHER FUNDS
    mainly to “transaction” accounts. Transaction accounts are accounts If the Bank cashes a check for the depositor that is drawn on another
    which permit unlimited number of payments to third persons and
    unlimited number of telephone and preauthorized transfers, such as bank, the Bank may withhold the availability of a corresponding amount
    checking accounts. of funds that are already in the depositor's account. Those funds will be
    available at the time funds from the check the Bank cashed would have
    Our policy is to delay the availability of funds that you deposit in your been available if the depositor had deposited it. If the Bank accepts for
    account. During the delay, you may not withdraw the funds in cash and deposit a check that is drawn on another bank, the Bank may make
    we will not use the funds to pay checks that you have written. funds from the deposit available immediately but delay the depositor's
    availability to withdraw a corresponding amount of funds that the
    Please remember that even after we have made funds available to you, depositor has on deposit in another account with the Bank. The funds in
    and you have withdrawn the funds, you are still responsible for checks the other account would then not be available until the time periods that
    you deposit that are returned to us unpaid and for any other problems are described elsewhere in this brochure for the type of check that the
    involving your deposit. depositor is depositing.

    DETERMINING THE AVAILABILITY OF A DEPOSIT LONGER DELAYS MAY APPLY


    The length of the delay is counted in business days from the day of your Funds you deposit by check may be delayed for a longer period under
    deposit. Every day is a business day except Saturdays, Sundays, and the following circumstances:
    federal holidays. If you make a deposit with a teller at one of our • We believe a check you deposit will not be paid.
    branches on a business day, we will consider that day to be the day of • You deposit checks totaling more than $5,525 on any one day. For
    your deposit or if you make a deposit before 12 noon local time at an example, the first $5,525 of a day's total deposits of cashier's,
    automated teller machine (ATM) located at one of our branches, we will certified, teller, traveler's and federal, state and local government
    consider that day to be the day of your deposit. However, if you make a checks will be made available on the first business day after the day
    deposit after 12 noon local time at an ATM located at one of our of your deposit, if the deposit meets certain conditions. For example,
    branches or on a day we are not open, we will consider that the deposit the checks must be made payable to you (and you may have to use
    was made on the next business day we are open. All deposits made by a special deposit slip available from our customer service area). For
    mail or courier and addressed to Amerant Bank, N.A., Bookkeeping checks not drawn on the Bank, the excess over $5,525 will be
    Department, P.O. Box 229015 Miami, Florida 33222-9015, shall be available no later than on the 7th business day for local checks and
    considered received on the day they are received by that department. the 10th business day for non-local checks, after the day of your
    Business Account Deposits placed in a night depository are considered deposit. If your deposit of these checks (other than a U.S. Treasury
    received when we remove them from the night depository, the next check) is not made in person to one of our employees, the first
    business day. $5,525 will not be made available until the second business day
    after the day of your deposit.
    The length of the delay varies depending on the type of deposit and is • You redeposit a check that has been returned unpaid.
    explained below. • You have overdrawn your account repeatedly in the last six months.
    • There is an emergency, such as failure of communications or
    SAME-DAY AVAILABILITY computer equipment.
    Funds from electronic direct deposits to your account will be available on
    the day we receive the deposit. We will notify you if we delay your ability to withdraw funds for any of
    these (or any other) reasons, and we will tell you when the funds will be
    NEXT-DAY AVAILABILITY available. They will generally be available no later than the ninth business
    Funds from the following deposits are available on the first business day day after the day of your deposit.
    after the day of deposit:
    • U.S. Treasury checks that are payable to you SPECIAL RULES FOR NEW ACCOUNTS
    • Wire transfers If you are a new customer, the following special rules will apply during
    • Checks drawn on Amerant Bank, N.A. the first 30 days your account is open.

    If you make the deposit in person to one of our employees, funds from Funds from deposits of cash, electronic direct deposits, or next day
    the following deposits are also available on the first business day after availability items will be available according to the same schedule
    the day of your deposit: already discussed for existing customers.
    • Cash
    • State and local government checks that are payable to you if you Funds from all other check deposits will be available on the fifth business
    use a special deposit slip available from one of our customer service day after the day of your deposit.
    representatives.
    • Cashier's, certified and teller's checks that are payable to you if you NON-TRANSACTION ACCOUNTS
    use a special deposit slip available from one of our customer service Our check hold policy for non-transaction accounts (savings or money
    representatives. market accounts) is that the funds from your local check deposit will be
    • Federal Reserve Bank checks, Federal Home Loan Bank checks available no later than the fourth business day after the day of your
    and postal money orders, if these items are payable to you. deposit.

    If you do not make your deposit in person to one of our employees (for FOREIGN DRAFTS/CHECKS
    example, if you mail the deposit), funds from these deposits will be Funds from foreign drafts/checks deposited will be made available upon
    available on the second business day after the day we receive your collection; net of the applicable fees, as provided in the Schedule of Fees.
    deposit. Foreign drafts/checks are generally negotiated by our correspondent bank
    via foreign collection channels and therefore these items take substantially
    OTHER CHECK DEPOSITS longer periods of time to process. These items are not subject to Regulation
    For all other check deposits, $225.00 will be available on the first CC of the Federal Reserve and, therefore, unlike domestic items (described
    business day after the day of your deposit with the remaining funds above), there will be no availability of funds until the funds are collected from
    available on the second business day after the day of your deposit. the foreign paying bank through our correspondent bank. In addition, any
    fee charged by the correspondent bank for collection of the item will also be
    charged to your account, even if the collection item is returned unpaid.

    Amerant Bank, N.A. Page 1 of 1 Version 11/6/2023

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