Boonville Branch Paradise Branch Newburgh Branch

Funds Availability

Your Ability to Withdraw Funds at Peoples Trust & Savings Bank

Our policy is to make funds from your cash and check deposits made in person to an employee of the bank available to you on the same business day as the day we receive your deposit.  Once the funds are available, you can withdraw them in cash and/or we will use them to pay checks that you have written.  For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, and federal holidays.  We have different deposit cut-off hours for different locations.  Our cut-off hours are as follows:

4:00pm                 Boonville                         

3:00pm                 Newburgh

If you make a deposit in person to an employee of the bank before our cut-off hour on a business day that we are open, we will consider that day to be the day of your deposit.  However, if you make the deposit after our cut-off hour or on a day we are not open, we will consider the deposit made on the next business day we are open.

Deposits mailed to the bank are considered received on the Banking Day they are received by the bank.

Deposits made at a Peoples ATM machine are considered received on the banking day they are received at the ATM.

Deposits made to a Peoples night depository are considered received on the banking day on which the deposit is removed from the facility and is available for processing by Peoples Bank.  Deposits made to a Peoples night depository after the bank has opened for the day will not be removed for processing until the following business day.

For the purposes of this disclosure, a Banking Day is Monday through Friday, excluding federal holidays.

Reservation of Right to Hold                    

In some cases, we will not make all of the funds that you deposit by check available to you on the same business day as 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.  The first $200 of your deposit, however, may be available on the first business day after the day of your deposit.  If we are not going to make all of the funds from your deposit available on the same business day, we will notify you at the time you make your deposit.  We will also tell you when the funds will be available.  If your deposit is not made directly by one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the business day after we receive the deposit. If you need the funds from a deposit right away, you should ask us when the funds will be available.

Longer Delays May Apply

 We may delay your ability to withdraw funds deposited by check into your account an additional number of days for any of these reasons:                

  • 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;                  
  • We believe a check you deposit will not be paid;           
  • There is an emergency, such as failure of computer or communications equipment;
  • You have held a transaction account with Peoples Bank for a period of less than 30 days;
  • Your deposit is made to a savings or Money Market account.

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 ninth business day after the day of your deposit.  


Holds on Other Funds               

If we cash a check for you that is drawn on another financial institution, 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 we accept for deposit a check that is drawn on another financial institution, 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 you deposited.  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 ninth business day after the day of your deposit.