Expedited Funds Availability Act of 1987 and Federal Reserve Regulation CC require all financial institutions to disclose their specific policy as to when deposited funds are available for withdrawal. This disclosure statement explains the timelines around making your funds available to you.
Pool permits the following types of deposits:
Direct Deposit (via ACH)
ACH transfer from an external or linked bank account
A2A/AFT/OCT transfer from an external debit card or credit card
Internal transfer from a Linked Pool Account
Pool does not accept the following deposits:
ATM deposits
Wires
Personal checks, cashier’s checks, money orders, foreign currency or cash
Because we understand that having access to your funds is extremely important, we try our best to make any deposited funds available to you instantly.
Business Day Definition. 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 on a non-business day, 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.
Incoming Direct Deposits. Incoming funds from electronic direct deposits (“RDFI”) will be available on the day we receive the deposit.
Incoming Bank Transfers. When processing transfers from other banks, the timing of funds availability varies from bank to bank. A variety of other factors such as the size of the deposit may also influence the processing time. Incoming bank transfers are sometimes available instantly, but may take time to arrive from your bank. The funds will be made available to you no later than the next business day after the funds arrive to us.
Incoming A2A/AFT Transfers. When processing transfers from debit cards or credit cards, the timing of funds availability varies depending on the bank that issues the debit card. A variety of other factors such as the size of the deposit may also influence the processing time. Incoming debit card transfers are almost always available instantly.
Internal transfer from a Linked Pool Account. Internal transfers from other Pool Accounts are almost always available instantly.
Availability of Other Deposits / Your Ability to Withdraw Funds. Our policy is to make funds from your deposits available to you no later than the next day after the Bank has received the 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.
Suspicious Activity and Hold Notices. If for any reason we need to place an exception hold on your incoming deposit (e.g., due to suspected fraud), we will provide notice typically at the time of the deposit or no later than the first business day following the day the deposit was made per Regulation CC.
You will be provided with a hold notice, whether the hold is implemented on a case-by-case basis or due to an exception, as defined in by the implementing regulation and outlined below. The notice will include the reason for the exception (e.g., suspected fraud), the date the deposit was made, the length of the delay and when we expect your funds to become available, and an email address to contact Pool with any questions.
Longer Delays May Apply. In addition, funds you deposit may be delayed for a longer period under the following circumstances:
Your account has been open for less than 30 days.
You deposit funds totaling more than $5,525 on any one day.
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 seventh (7th) business day after the day of your deposit.
Special Rules for New Accounts. If you are a new customer, the following special rules will 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.