Funds Availability Policy

Our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit.

For administrative purposes, to be posted on a business day, your deposit must be received by a certain time. If we receive it later, we will consider the deposit made on the first business day we are open.

Concerning the availability of your funds: every day is a business day, except Saturdays, Sundays and Bank Holidays.

Once available, you can withdraw the funds in cash, use the funds for Point-of-Sale (POS) transactions, and we will use the funds to pay checks that you have written.

Electronic direct deposits will be available on the effective date of the deposit as set forth in the following information. However, holds may be placed on a case-by-case basis, and for specific reasons as allowed under applicable law, in which case we will mail you a notice the first business day after we receive your deposit and tell you when the funds will be available.

Ask, if you need to be sure, when a particular deposit will be available for withdrawal.

Deposits made by mail must be sent to:

State Farm Bank, F.S.B.
P.O. Box 2316
Bloomington, IL 61702-2316.

Deposits cannot be made in person or at any other address, including any office of a State Farm® agent.

If you make a deposit on a business day that we are open before the times below, we will consider that day to be the day of your deposit.

If you make a deposit on a day we are not open, or after the hours listed below, we will consider that the deposit was made on the next business day we are open.

Cut-off times are:

• 3:00 p.m. Central time for deposits made by mail. (Deposits by mail are deemed made upon receipt by us.)

• 6:00 p.m. Central time for Automated Teller Machine (ATM) deposits (Funds deposited at an ATM are considered deposited when they are received at the ATM), or

• 10:00 p.m. Central time for electronic funds transfers and deposits, we will consider that day to be the day of your deposit.

However, if You make a deposit on a day We are not open or after:

• 3:00 p.m. Central time for deposits made by mail (deposits by mail are deemed made upon receipt by Us),
• 6:00 p.m. Central time for ATM deposits (funds deposited at an ATM are considered deposited when they are received at the ATM), or
• 10:00 p.m. Central time fro electronic fund transfers and deposits, we will consider that the deposit was made on the next business day we are open.

Transferred Funds Availability Schedule

Internet Transfers
Internet transfers submitted before 10:00 p.m. CST will be processed and posted to the appropriate account(s) that same day, and will be available for use on the same business day. Transfers submitted after 10:00 p.m. will be available the following business day.

Transferred Funds and the Bill Payment Option
Please refer to the following schedule to ensure that the transferred funds will be available for use with the bill payment option.

Immediate Funds Transfer
Funds transferred before 1:00 p.m. CST will be available to apply towards a bill payment on the same business day.

Funds transferred after 1:00 p.m. CST will be available to apply towards a bill payment on the next business day.

Internet transfers submitted before 10:00 p.m. CST will be processed and posted that same day.

Scheduled Transfers
Scheduled transfers are dated in the future. Funds from all scheduled transfers will be available to apply towards a bill payment on the next business day. When planning ahead, the best option is to schedule the funds transfer for one business day prior to the scheduled bill payment.

Should there be insufficient funds in the account to allow for the processing of the transfer on the date scheduled, We will not process the transfer. In such event, We will not make another attempt to perform the transfer automatically.  If You wish the transfer to occur, You will need to call Us or perform the transfer online.

Same-day Availability
Funds from pre-authorized electronic transfers of government payroll or benefit payments, such as Social Security, will be made available on the payment date.

Funds from other wire transfers to your account can generally be withdrawn from your account on the same day we receive the wire transfer.

In rare cases, the funds may not be available until the business day following the day the wire transfer is received.

Next-day Availability
Funds from the following deposits are available for all purposes on the first business day after the day of your deposit:

• Cash
• U.S. Treasury checks
• Checks drawn on State Farm Bank
• State and local government checks
• Cashier's, certified, and teller's checks
• Federal Reserve Bank checks, Federal Home Loan Bank checks, and US Postal Service money orders

Wire Transfers
It is our policy to permit you to use deposited funds for outgoing wire transfers based on when we consider deposited checks collected in accordance with our Check Collection Schedule. This schedule is subject to change without notice.

Even if we do not make your funds available for wire transfer purposes until the second business day after your deposit, the first $100 from that deposit will be available for all purposes on the first business day after the day of your deposit. The remaining funds will be available for all purposes on the second business day after the day of your deposit.

Deposits at ATMs
The first $100 of all funds you deposit to any ATM will be made immediately available on the same day. The remaining funds of your deposit made to any ATM will be made available on the first business day after the day of your deposit.

Longer delays may apply
In some cases, we will not make all of the funds that you deposit available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. However, the first $100 of your deposit will be available on the first business day after your deposit.

If we are not going to make all of the funds from your deposit available on the first business day after the day of your deposit, we will mail you a notice the first business day after we receive your deposit. We will also tell you when the funds will be available.

In addition, funds you deposit by check may be delayed for a longer period 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.
• You 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 funds will be available. They will generally be available no later than the eleventh (11th) 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 effective date of the deposit. Funds from electronic transfers, and the first $5,000 of a day's total deposits of cash, 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 your deposit if the deposit meets certain conditions. The excess over $5,000 will be available on the ninth business day after the day of your deposit.

Funds from all other check deposits will be available on the eleventh (11th) business day after the day of your deposit.

Substitute Checks and Your Rights

To make check processing faster, federal law permits banks to replace original checks with substitute checks. These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: This is a legal copy of your check. You can use it the same way you would use the original check. You may use a substitute check as proof of payment just like the original check.

Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us.

The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.

In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check).

The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees).

The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less.

You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.

If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim.

We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account.

How do I make a claim for a refund?
If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us:

By telephone: 1-877-SF4-BANK / 1-877-734-2265

By Mail:
State Farm Bank
P.O. Box 2316
Bloomington, IL 61702-2316

You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later.

We will extend this time period if you were not able to make a timely claim because of extraordinary circumstance.

Your claim must include:

• A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect)
• An estimate of the amount of your loss
• An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss
• A copy of the substitute check
• The following information:
• • Check number
  • Name of the person to whom you wrote the check
  • Amount of the check