Your Ability to Withdraw Funds
This policy statement applies to all deposit accounts.
Our policy is to make funds from your 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. ACH Debit Transfer instructions requested by you at Scottrade Bank for funds to be pulled from your registered account at another financial institution and deposited in your Scottrade Bank® account will be available to you no later than the third business day after the day of deposit. Once the funds are available, you can withdraw them in cash and we will use the funds to pay any obligations against the account.
Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for deposits that are returned to us unpaid and for any other problems involving your deposit. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before 2 p.m. Central Time 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 p.m. Central Time or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
LONGER DELAYS MAY APPLY
Funds you deposit by check may be delayed for a longer period under the following circumstances:
1) We believe a check you deposit will not be paid.
2) You deposit checks totaling more than $5,000 in any one day.
3) You redeposit a check that has been returned unpaid.
4) You have overdrawn your account repeatedly in the last six months.
5) There is an emergency, such as 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 fifth business day after the day of your deposit.