Bank Deposit Rules for Available Withdrawal

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You can't always get to your money immediately.
You can't always get to your money immediately. (Image: Photos.com/Photos.com/Getty Images)

When you make a bank deposit, you want your funds to be available as soon as possible, but the bank needs to verify your deposit before allowing access to the funds. This can cause a delay between deposit and funds availability. Understand general funds availability rules and check with your institution for bank-specific policies.

Cash Deposits

Cash deposits made through certain automatic teller machines (ATMs), at the drive-up window or inside the bank are immediately available for withdrawal. Some ATMs allow patrons to deposit cash without an envelope; the cash is counted and validated automatically, and the deposit is made immediately available. Deposits made through the night deposit box or ATMs without cash-validating capabilities are made available the following business day. Some banks allow for partial immediate availability, typically the first $100 of the deposit.

Check Deposits

Certified and government checks are made available within one business day if deposited within the bank before the cutoff time (which varies among institutions) and within two business days if deposited in a proprietary ATM. Local checks are made available within two business days of deposit, and non-local checks within five business days. The first $100 of most checks is available the same day or the business day following the day of deposit.

ATM Deposits

Checks deposited by ATM are sometimes treated with more caution than those deposited through the drive-up window or inside the bank where checks can be verified and scanned at the time of deposit. Depositing to an ATM adds verification time and increases hold times for large checks. A portion of funds may be available immediately, a second portion available several days later and still a third portion available after that. Rules vary by financial institution, and in some cases the hold may be lifted once the check has cleared.

Automatic Deposits

Funds deposited into an account automatically, such as through direct deposit, are made available immediately. The funds may still appear as pending deposits, but since the transfer was validated at the time of transmittal, the funds are not subject to holds.

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