Funds Availability Policy

It is the policy of First National Bank of Northfield to make funds from customer deposits to transaction accounts available on the day following the day the deposit is received. Electronic direct deposits will be available on the day the deposit is received. Once the funds are available, the depositor may withdraw the funds in cash or the funds can be used to pay outstanding checks.

In some cases, the Bank will not make the funds the customer deposits by check available on the day following the day the deposit is received. Depending on the type of check deposited, all funds may not be available until the second (2nd) business day after the day of deposit.

In some circumstances, the Bank may delay funds availability for a longer period. Special rules apply to new accounts, opened less than 31 days. Funds will be available no later than allowed by the current regulation.

For determining the availability of deposits, every day is a business day, except Saturdays, Sundays, and federal holidays.

If a deposit is made before 6:00 p.m. on a business day that the Bank is open, the Bank will consider that day to be the day of deposit. However, if a deposit is made after 6:00 p.m. on a business day, on a Saturday, on a federal holiday, or on a day that the Bank is not open, the Bank will consider that deposit was made on the next business day the bank is open.