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Funds Availability

FUNDS AVAILABILITY POLICY DISCLOSURE

Community First Bank 

650 Kansas Avenue 

Kansas City, Kansas 66105-1328 (913)371-1242 

www.cfbkc.com  communityfirstbank@cfbkc.com  

PURPOSE OF THIS DISCLOSURE. Our general policy is to allow you to withdraw funds deposited in an account on the first Business Day after the day of deposit. Funds from electronic direct deposits will be available on the day we receive the deposit. In some cases, we may delay your ability to withdraw funds beyond the first Business Day after the day of deposit. Our complete policy is summarized below. 

For purposes of this disclosure, the terms "you"/"your" refer to the customer and the terms "our"/"we"/"us" refer to Community First Bank. The term "account" includes any demand deposit, negotiable order of withdrawal account, savings deposit, money market account or other non-time deposit account. 

DETERMINING THE AVAILABILITY OF YOUR DEPOSIT. The length of the delay varies depending on the type of deposit and is explained below. When we delay your ability to withdraw funds from a deposit, you may not withdraw the funds in cash, and we will not pay checks you have written on your account by using these funds. Even after we have made funds available to you and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit. 

When we delay your ability to withdraw funds, the length of the delay is counted in Business Days from the day of your deposit. The term "Business Day" means any day other than a Saturday, Sunday or federally declared legal holiday, and the term "Banking Day" means that part of any Business Day on which we are open to the public for carrying on substantially all of our banking functions. 

In order to establish that a deposit is made on a particular Business Day, we establish a cut-off time. You must make your deposit before the cut-off time in order for it to be considered to have been made on that Business Day. 

LOCATION 

CUT-OFF TIME 

650 Kansas Avenue, Kansas City, Kansas 

5:30pm 

10314 Shawnee Mission Parkway, Shawnee, Kansas 

5:30pm 

10950 Parallel Parkway, Kansas City, Kansas 

5:30pm 

 
However, if you make a deposit after the cut-off time shown above or on a day that we are not open, we will consider the deposit made on the next Business Day we are open. 
 

AVAILABILITY SCHEDULE. Our policy is to make funds from your cash and check deposits available to you on the first Business Day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use them to pay checks that you have written. 

 

LONGER DELAYS MAY APPLY. In some cases, we will not make all of the funds that you deposit by check available to you according to the previously stated availability schedule. Depending on the type of check that you deposit, funds may not be available until the second Business Day after the day of your deposit. The first $225.00 of your deposits, however, may be available on the day of deposit. 

If we are not going to make all of the funds from your deposit available to you according to the previously stated availability schedule, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. 

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

  1.  if we believe a check you deposit will not be paid;
  2. if you deposit checks totaling more than $5,525 on any one day; 
  3. if you redeposit a check that has been returned unpaid;
  4. if you have overdrawn your account repeatedly in the last six months; or
  5. if an emergency condition arises that would not enable us to make the funds available to you, such as the failure of 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 no later than the 7 Business Day after the day of your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. 

HOLDS ON OTHER FUNDS FOR CHECK CASHING. If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. 

HOLDS ON OTHER FUNDS IN ANOTHER ACCOUNT. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount offunds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. 


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. 

Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,525 of a day's total deposits of cashier's, certified, teller's, traveler's, and federal, state and local government checks will be available on the first Business Day after the day of deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,525 will be available on the 9 Business Day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,525 will not be available until the second Business Day after the day of deposit. 

Other Check Deposits. Funds from all other check deposits will be available on the 9 Business Day after the day of deposit. 

ADDITIONAL DEPOSIT INFORMATION. LIABILITY FOR DELAYED OR MISSENT RETURN ITEMS 

 Federal Reserve Board Regulation "CC" establishes endorsement consent and placement standards for check payees and subsequent endorsers, depository banks, collection banks and returning banks. Variations from these standards may cause delays in the return of items from the paying (drawee) bank to the bank of first deposit with said delays creating or increasing the risk of loss to the depository bank's customer. Community First Bank, as depository bank, will transfer to our depositor or liabilities, risks, expenses, fees or loss in connection with the late return of a deposited or other check where the lateness of return is caused by endorsements or markings placed on the check by the depositor or any person acting on his behalf or by any prior endorser which are placed in the area reserved under Regulation "CC" only for the endorsement of the depository bank. Community First Bank, as paying bank, will hold account holders responsible for any liabilities, risk, expenses, fees or loss resulting from delayed or miss-sent return checks where the delay or miss-sending is caused by the endorsements or markings placed on the check by or at the request of the account holder that obscure a properly placed endorsement of a depository bank.