FUNDS AVAILABILITY POLICY
3 July 1, 2020
• Cashier's Checks, Teller's checks and Travelers Checks
• State Local Government Checks issue by the Sate or by the general purpose
units of
Local Government.
Note: If you deposit any of the types of checks describes above at any carver Bank ATMs,
your deposit will become available no later than the 2
nd
Business following the Business
Day of deposit.
Exceptions
Collection Items:
We may require that any check you present for deposit be sent for collection. That is, your
funds will be available after we have received payment from the bank on which the check is
drawn. You will be charged a fee for this service. Please refer to “Fee Schedule” for applicable
fees.
Checks That May Not Be Collectible:
Occasional, a check is given to Carver that we decide not to accept for deposit or payment
because we doubt the collectability of the funds. When this happens, we will return the check
to you or, if you request, send the check out for collection. On other occasions, we may learn
that a check we accepted for deposit may not be honored. Should this happen, we will delay
the availability of the deposit for a reasonable period of time until the check is either paid or
returned. In all cases, we will notify you of the action we take.
Events Beyond Our Control:
In the event that we are unable to conduct business due to an interruption of communication,
facilities, suspension of payments by another bank, war, other emergency conditions or other
circumstances beyond our control, it may be necessary to increase some or all of the time
periods specific in these availability schedules. If this happens, we will try to inform you if
possible.
Redeposit of Check (s) Returned Unpaid:
We reserve the right to extend the time within which these checks become available.
Overdrafts
We may delay the availability of the deposit if you have overdrawn your account or have had
frequent returned deposits.
Double-Endorsed Checks
We reserve the right to refuse to accept for deposit a double-endorsed check. A double-
endorsed check is a check that is made payable to someone other than yourself and then
endorsed to you by that person. If such a check is mailed to the bank or sent to the bank
through any remote means for deposit, we may elect to return the check to you. If the bank
accepts such a check for deposit, it may delay the availability for a reasonable period of time
until the check is either paid or returned. Should this occur, you will be notified of the delay.
Availability of Deposits Made by Mail:
A deposit received by mail is considered made on the day we receive if for processing.