General - Lobby Sign 5

	Your Ability to Withdraw Funds at Our policy is to delay the availability of funds that you deposit in your account. During the delay, you may not withdraw the funds in cash and we will not use the funds to pay checks that you have written. Determining the availability of a deposit The length of the delay is counted in business days from the day of your deposit. Every day is a business day except Saturdays, Sundays, and federal holidays. If you make a deposit before 2:00 p.m. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after 2:00 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open. The length of the delay varies depending on the type of deposit and is explained below. 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. Wire transfers, including preauthorized credits, such as social security benefits and payroll payments. Checks drawn on The Milford Bank. If you make the deposit in person to one of our employees, funds from the following deposits are also available on the first business day after the day of your deposit. Cash. Connecticut state and local government checks that are payable to you. Cashier’s, certified, and teller’s checks that are payable to you. Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to you. If you do not make your deposit in person to one of our employees (for example, if you mail the deposit or use the ATM), funds from these deposits will be available on the second business day after the day of your deposit. Other check deposits The delay for other check deposits depends on whether the check is local or a nonlocal check. To see whether a check is a local or nonlocal check, look at the routing number on the check. If the first four digits of the routing number are local numbers, then the check is a local check. Otherwise, the check is a nonlocal check. Our policy is to make funds from these checks available as follows. LOCAL CHECKS. The first $100 from a deposit of local checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit. NONLOCAL CHECKS. The first $100 from a deposit of nonlocal checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the fifth business day after the day of your deposit. Longer delays may apply Funds you deposit by check may be delayed for a longer period of time 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. We 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 failure of communications or computer 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 no later than the sixth business day after the day of your deposit. Special rules for new accounts If you are a new customer, the following special rules may apply during the first 30 days your account is open. The first $5,000 from a deposit of U.S. Treasury checks will be available on the first business day after the day of your deposit. The excess over $5,000 will be available on the ninth business day after the day of your deposit. Funds from wire transfers into your account will be available on the first business day after the day we receive the transfer. Funds from deposits of cash and the first $5,000 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and state and local government checks will be available on the first business day after the day of your deposit if the check is payable to you. The excess over $5,000 will be available on the ninth business day after the day of your deposit. If you do not make the deposit in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will generally be available on the sixth business day after the day of your deposit. Back to list of Lobby Signs Forward to next Lobby Sign
	About Us Personal Services Business Services Community Information Locations-Hours What's New For questions or comments about this site, contact webmaster@milfordbank.com For all other banking questions, Contact Us Review our Privacy Statement Important Consumer Protection Information 33 Broad St., Milford 259 Merwin Ave., Woodmont 205 Bridgeport Ave., Devon 1455 Boston Post Road, Milford 2366 Main Street, Stratford 142 Temple Street, Suite 306 New Haven, CT 06510 (Loan Production Office) 203-783-5700 CT toll free: 800-340-4TMB Copyright © 2002-2003 The Milford Bank. All rights reserved.