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Funds Availability

Knowing when your deposits will be available is an important part of managing your account.

Determining the Availability of a Deposit

The length of the delay is counted in business days from the day of your deposit. For us, every day is a business day except Saturdays, Sundays and federal holidays. (Please note that when we are open on a Saturday, Sunday or federal holiday, it is not considered a business day.)

The cutoff time for deposits at Santander ATMs is 10:00 p.m., for Telephone Banking transfers is 8:00 p.m. and for night deposits is 7:30 a.m. The length of the delay varies depending on the type of deposit and is explained below. The cutoff time for our wire room is 6:00 p.m. for incoming wire transfers. There is no cutoff time for deposits made using a teller in the branch.

Same Day Availability

Funds from the following deposits are available on the business day we receive the deposit:

  • Funds from electronic deposits to your Accounts
  • Wire transfers
  • Cash deposits made in person to one of our Team Members
  • The first $100 from all deposits made at Santander ATMs that require the use of an envelope, during a business day, if the $100 is withdrawn at an ATM during the same day the deposit was made
  • The first $100 from check deposits made at a Santander ATM that does not require the use of an envelope, during a business day, if the $100 is withdrawn at an ATM during the same day the deposit was made
  • Cash deposits made at Santander ATMs that do not require the use of an envelope

Next Day Availability.

Funds from the following deposits are available on the first business day after the day of your deposit:

  • U.S. Treasury checks that are payable to you
  • Checks drawn on Santander Bank and Santander Bank Official Checks
  • Transfers made using Online Banking or Telephone Banking
  • Deposits made at a Santander ATM that require the use of an envelope
  • The first $200 of checks deposited at Santander ATMs that do not require the use of an envelope
  • Checks deposited into Escrow Master Checking, IOLTA and MAHT accounts

If you make the deposit in person to one of our Team Members, funds from the following deposits are available on the first business day after the day of your deposit.

  • State and local government checks and cashier’s, certified, and teller’s checks that are payable to you if you use a special deposit slip available from our Team Members at your branch.
  • Federal Home Loan Bank and Federal Reserve Bank checks and postal money orders if these items are payable to you.

If you make the deposit at a Santander ATM that does not require the use of an envelope, funds from the deposit of Federal Home Loan Bank and Federal Reserve Checks and postal money orders will also be available the first business day after the day of deposit.

If you do not make your deposit in person to one of our Team Members (for example, if you mail the deposit) or do not use a Santander ATM that requires the use of an envelope, funds from these deposits will be available as described below under Other Check Deposits.

Other Check Deposits

Our policy is to make funds from all other checks available as follows:

  • First $200. The first $200 of all checks you deposit on a business day will be available on the first business day after the day of deposit
  • Remaining Funds. The remaining funds will be available no later than the second business day after the day of your deposit. For example, if you deposit a check for $1,000 on a Monday and deposit no other checks, $200 of the deposit is available on Tuesday. No later than Wednesday, the remaining $800 is available

Longer Delays

Funds you deposit by check may be delayed for a longer period under the following circumstances:

  • We believe a check you deposit will not be paid.
  • 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.
  • There is an emergency such as a failure of the computer or communications equipment

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 6 business days after the day of your deposit. A total of $200 from all the checks you deposit will be available on the first business day after the day of your deposit.

Holds on Other Funds

If we accept for deposit a check that is drawn on another bank, we reserve the right in our sole discretion to withhold the availability of a corresponding amount of funds that you have on deposit in another Account with us. The funds in the other Account would then be available for withdrawal at the time funds from the check you deposited would have been available had it been deposited into the other Account.

Cutoff times
Bank Access Business Day Cutoff Time
Branch Teller Closing time of the branch at which you make a deposit or transfer
ATMs
  • 10 p.m. is the business day cutoff time for transactions at Santander ATMs in the 50 United States. These ATM transactions include deposits, transfers, payments, and withdrawals.
  • 3 p.m. is the business day cutoff time for transactions at ATMs located at CVS/pharmacy® locations. These ATM transactions include withdrawals and transfers.
Telephone Banking 8 p.m. is the cutoff time for transfers and payments made through Telephone Banking
Business Online Banking
  • 10 p.m. is the cutoff time for transfers made through Business Online Banking
  • Business BillPay transaction cutoff times vary by biller

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