Does electronic check processing mean my deposited checks will be available for withdrawal faster?
A federal law (the Expedited Funds Availability Act) specifies the maximum amount of time your bank has to make funds available to you — but most banks (including ANB) make funds available faster than required. This law requires the Federal Reserve Board to reduce maximum hold times in step with reductions in actual check-processing times. Therefore, as check processing gets faster over time, the Board will reduce maximum hold times. NOTE: If the bank decides to place a hold on funds that you have deposited by check, this does not affect your interest. Specifically, if you deposit a check into an interest-bearing checking account, we are generally required to begin crediting interest to your account no later than the business day on which the bank receives credit for the funds.
